What does “gasprice” mean (translated from “garlic” means)?

What does “gasprice” mean? According to official sources, gasprice allows users to decide how much gas (or tokens) they need to spend on the blockchain. Specifically, when the gas price of a block exceeds the set value, transaction fees are incurred.

Due to the significant fluctuations in gas prices on the chain, many consider it to be a waste. However, to resolve this, one can choose to set the gas price to zero to avoid such problems. But if we set the GasPrice to 0, the network will not achieve the expected gas cost, so gas quoting also has its limitations.

What does “garlic” mean? (translated)

Original author: William M. Peaster

Translator: Qin Xiaofeng

Editor: Lu Xiaoming

What is “garlic”? In Chinese, it translates to a cryptocurrency that is automatically controlled by computer code. It works similar to Bitcoin and offers specific functionalities (such as transactions and sending) within the Bitcoin network. Garlic is also referred to as a security token that allows individuals to protect their assets. It has a special role in storing and exchanging digital assets and providing value to the holders as a security token. Therefore, it is a technical means based on cryptographic algorithms to create, verify, and manage its virtual assets.

Although it remains unclear what “garlit” (or “莱特利” in Chinese) exactly refers to, we know what it means and what it is related to. This article will explain in detail why it is a name without confusing any vocabulary with synonyms. (Reference: https://www.gatelab.com/)

If a project wants to be successful, it must first publish a white paper on the blockchain. Then, by using this white paper to achieve the goals, it can better understand the operation and risks of the project.

So, how can one determine if the expected returns can truly be obtained?

1) Purchase tokens from the market.

2) Distribute tokens from the market.

3) Sell tokens from the market.

4) Buy tokens from the market.

Anyone who has not sold tokens for more than 5 years can obtain tokens by using this white paper.

5) Earn fees from market sales instead of paying them to third parties. This is due to protocol design.

6) To prevent price fluctuations, developers choose lower prices to increase liquidity. For example, they decide to set the price estimation value at $1 and increase it to over $2 after one day. Finally, they will rebalance the price difference to achieve the best results.