Gas accounting refers to the process of measuring and managing the computational work required to execute transactions and smart contracts on a blockchain network. Each action on the blockchain, such as transferring tokens or executing a smart contract, consumes a certain amount of computational resources, quantified as “gas.”Gas is typically paid for in the network’s native cryptocurrency. The total cost of a transaction is determined by multiplying the amount of gas used by the gas price, which can fluctuate based on network demand. Users need to estimate how much gas their transaction will require to ensure it is processed efficiently.Effective gas accounting helps users avoid failed transactions, which occur when insufficient gas is provided. It is essential for optimizing transaction costs and ensuring timely processing during periods of high network congestion. Users can analyze gas fees to make informed decisions about when to execute transactions, aiming for lower costs and faster confirmations.