High gas price refers to the cost required to execute transactions or smart contracts on a blockchain, particularly on networks like Ethereum. This cost is paid in the form of gas, which is a unit that measures the amount of computational effort needed for a transaction.Gas prices can fluctuate significantly based on network demand. When many users are trying to conduct transactions simultaneously, the competition for limited block space drives prices up. This can lead to longer confirmation times and increased costs, making it expensive to send funds or interact with decentralized applications.High gas prices can deter users from executing transactions, prompting some to wait for more favorable conditions. This can affect trading strategies and the overall usability of decentralized platforms. Understanding gas prices is essential for anyone looking to engage with blockchain technology efficiently.