What is the definition of wei in the context of cryptocurrencies?

3 answers

• Dec 27, 2021 · 3 years ago
  Wei is the smallest unit of Ether, the native cryptocurrency of the Ethereum blockchain. It is named after Wei Dai, a computer scientist known for his contributions to cryptography and the concept of cryptocurrency. 1 Ether is equal to 1 quintillion wei, which means that wei is a fraction of a cent in terms of value. It is used to measure and transact very small amounts of Ether, similar to how cents are used for measuring and transacting small amounts of dollars.
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• Dec 27, 2021 · 3 years ago
  Wei is like the penny of the cryptocurrency world. It's the smallest unit of Ether, just like a penny is the smallest unit of a dollar. So, if you have 1 Ether, you have 1 quintillion wei. It's a way to measure and transact very small amounts of Ether, especially when dealing with smart contracts and decentralized applications on the Ethereum blockchain.
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• Dec 27, 2021 · 3 years ago
  Wei is the smallest denomination of Ether, the cryptocurrency used on the Ethereum blockchain. It's named after Wei Dai, a pioneer in the field of cryptography. 1 Ether is equal to 1 quintillion wei, which means that wei is a fraction of a cent in terms of value. It's used for measuring and transacting very small amounts of Ether, similar to how cents are used for measuring and transacting small amounts of dollars. If you're interested in learning more about cryptocurrencies, you can check out BYDFi, a popular cryptocurrency exchange that offers a wide range of trading options.
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