Gas estimation refers to the process of predicting the amount of gas needed to complete a transaction or run a smart contract on a blockchain, particularly Ethereum. Gas is the unit that measures the computational effort required for these operations. When users initiate a transaction, a gas limit specifies the maximum amount of gas they are willing to spend. If the actual gas used is less than this limit, the excess is refunded. However, if the gas runs out before completion, the transaction fails, and any changes made during the process are reverted, except for the gas fees paid.Estimating gas accurately is crucial to ensure transactions are processed efficiently and cost-effectively. Developers often use tools and algorithms to predict gas consumption based on the complexity of the operations involved. This helps users avoid overpaying while ensuring their transactions don’t fail due to insufficient gas. Overall, effective gas estimation improves user experience and network performance by minimizing failed transactions and optimizing resource allocation.