The highest amount users on the Ethereum network are willing to pay for transactions.
The gas limit is the highest amount per transaction that a user is willing to pay for using the Ethereum network. It is a kind of guarantee mechanism for the speed of a transaction since it means that a user can ‘inspire’ miners to verify transactions quicker by setting a higher gas limit. Similarly, when a user sets overly low gas limits, the transactions usually take longer to verify since miners may not immediately pay the transaction any mind.
Thus, in the same way that gas is determined by miners who confirm transactions and oversee Ethereum blocks, it is also the prerogative of miners to agree to or ignore the fees imputed by users. The gas limit acts as the indicator for how committed a miner can be to a transaction.