In cryptocurrency, a “Wei” is the smallest denomination of Ethereum (ETH).

Ethereum is a blockchain platform that allows for the creation of smart contracts and decentralized applications (DApps), and Ether (ETH) is its native cryptocurrency.

The Ethereum network uses multiple denominations to represent different amounts of Ether, and the Wei is the smallest unit in this system.

Origin

It is named after Wei Dai, a computer scientist known for his contributions to cryptography and the creation of the concept of “b-money,” which influenced the development of cryptocurrencies.

One Ether (ETH) is equivalent to 1,000,000,000,000,000,000 Wei.

In other words, there are 10^18 Wei in one Ether.

In summary, Wei is the smallest unit of the Ethereum cryptocurrency and is named after Wei Dai, a prominent figure in cryptography and early cryptocurrency concepts.

It’s not commonly used for everyday transactions.

Still, it is a fundamental unit for precise calculations and programming in the Ethereum ecosystem, particularly regarding gas fees for smart contracts and transactions.