How to interpret the gasPrice?

Question

How to interpret the gasPrice? Which unit is it and how to calculate how much SMR it is?

I followed this tutorial and I have following transactionReceipt:

{
  hash: '0x299db77d4ac8d33b3507fa0a0eb58ee40a2996ea628e7e1348f6283b4813cdee',
  type: 0,
  accessList: null,
  blockHash: '0xa249044d9a6b3884a1933375c334c2467bdd6eea73e4ecc746d331ced610a85e',
  blockNumber: 663576,
  transactionIndex: 0,
  confirmations: 1,
  from: '0x157EF7ADDc804397CB5966dbCc003e163a473D0c',
  gasPrice: BigNumber { value: "1000000000000" },
  gasLimit: BigNumber { value: "87237" },
  to: '0xD2e1b57affAB75BC4cd571e6A8C2AcbfAc73016B',
  value: BigNumber { value: "0" },
  nonce: 12,
  data: '0x131a06800000000000000000000000000000000000000000000000000000000000000020000000000000000000000000000000000000000000000000000000000000002a7b22417869732d58223a313537382c22417869732d59223a313232372c22417869732d5a223a3433317d00000000000000000000000000000000000000000000',
  r: '0xd37ec6bf465902ae11001ccebedf9dda428632812de2ae48036cd074da404b57',
  s: '0x25bff9d5d4ca4f61770c8022ea040a4d50db914992bebc94903de0cc952ff226',
  v: 2178,
  creates: null,
  chainId: 1071,
  wait: [Function (anonymous)]
}

score 2 · Answer 1 · answered Apr 24 '23 at 12:30

SMR on ShimmerEVM has 6 decimals.

Like mentioned in that receipt gasPrice: BigNumber { value: "1000000000000" }, means 1000 gwei.

It is possible to find it on explorer as well on the transaction page.

Credit goes to milo5464 and Kumar on the IOTA&Shimmer Discord

score 2 · Accepted Answer · answered Apr 24 '23 at 14:14

The EVM compatibility in ISC page is worth a read. I'm sharing the most important note below.

There is a difference in the decimal precision of ether (18 decimal places) to MIOTA/SMR(6 decimal places). Because of this, when sending native tokens in the EVM, which are expressed in wei (ether = 1e18wei), the last 12 decimal places will be ignored.

example: 1,999,999,999,999,999,999 wei = 1.999,999 SMR/MIOTA

With this in mind it means:

1 ETH = 1e18 wei
1 SMR = 1e6 glow
1 glow = 1e12 wei, which is the smallest amount that can be charged/paid in ShimmerEVM (Testnet) or more generally speaking for a chain whose base token has only 6 decimals
The gasPrice determines how many wei users have to pay for 1 gas
The gasPrice of ShimmerEVM Testnet is set to 1e12 wei, or 1 glow respectively
This means with the current setting the price for 1 gas is set to the lowest possible value of 1 glow

How to interpret the gasPrice?

2 Answers2