How Gas/Gas price/ Maximum Gas Amount work?

According to the reference guide on this website:

  • Gas is a way to pay for computation and storage on a blockchain network. All transactions on the Libra network cost a certain amount of gas.

  • The gas required for a transaction depends on the size of the transaction, the computational cost of executing the transaction, and the amount of additional global state created by the transaction (e.g., if new accounts are created).

  • The purpose of gas is regulating demand for the limited computational and storage resources of the validators, including preventing denial of service (DoS) attacks.

  • Each transaction specifies the gas price (in microlibra/gas units) it is willing to pay.

  • The price of gas required for a transaction depends on the current demand for usage of the network

  • The Maximum Gas Amount of a transaction is the maximum amount of gas the sender is ready to pay for the transaction.

  • The gas charged is equal to the gas price multiplied by units of work required to process this transaction. If the result is less than the max gas amount, the transaction has been successfully executed.

  • If the transaction runs out of gas while it is being executed or the account runs out of balance during execution, then the sender will be charged for gas used and the transaction will fail.

Question is:

Will LBR users have to outrightly set gas amount through chosen wallet with every transfer they run?

Also, who sets the Maximum Gas Amount/ will user have to set this too?

How does/will validator nodes collect this gas money?

If gas price pays validator nodes, what/how will wallet providers charge it users to make money?

PS: I understand wallet providers like Calibra will charge on every transfer. What I’m trying to know is if it will be worthwhile providing that service on the crumbs(microlibra) they will charge. It doesn’t seem logical to want to onboard billions of people but charge them fee that could potentially make you money but slow LBR adoption. how does/could wallet providers plan to make money apart from transaction fees?


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