Step on the Gas? A Better Approach for Recommending the Ethereum Gas Price

Werner, Sam M.; Pritz, Paul J.; Pérez, Daniel

doi:10.1007/978-3-030-53356-4_10

Cited by 25 publications

(17 citation statements)

References 7 publications

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“…We also use sampling methods to construct our results, though we draw a representative sample of blocks appended to the Ethereum blockchain per day, in attempt to capture the complete and natural behavior of the network during this period. Seasonal trends are known to impact the blockchain [17,49] and therefore may have affected the insights and conclusions derived in our study. As a result, we suggest that future studies should validate our findings by replicating it using different and longer time frames.…”

Section: Threats To Validitymentioning

confidence: 99%

What makes Ethereum blockchain transactions be processed fast or slow? An empirical study

Pacheco¹,

Oliva²,

Rajbahadur³

et al. 2022

Preprint

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The Ethereum platform allows developers to implement and deploy applications called ÐApps onto the blockchain for public use through the use of smart contracts. To execute code within a smart contract, a paid transaction must be issued towards one of the functions that are exposed in the interface of a contract. However, such a transaction is only processed once one of the miners in the peer-to-peer network selects it, adds it to a block, and appends that block to the blockchain This creates a delay between transaction submission and code execution. It is crucial for ÐApp developers to be able to precisely estimate when transactions will be processed, since this allows them to define and provide a certain Quality of Service (QoS) level (e.g., 95% of the transactions processed within 1 minute). However, the impact that different factors have on these times have not yet been studied. Processing time estimation services are used by ÐApp developers to achieve predefined QoS. Yet, these services offer minimal insights into what factors impact processing times. Considering the vast amount of data that surrounds the Ethereum blockchain, changes in processing times are hard for ÐApp developers to predict, making it difficult to maintain said QoS. In our study, we build random forest models to understand the factors that are associated with transaction processing times. We engineer several features that capture blockchain internal factors, as well as gas pricing behaviors of transaction issuers. By interpreting our models, we conclude that features surrounding gas pricing behaviors are very strongly associated with transaction processing times. Based on our empirical results, we

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Section: Threats To Validitymentioning

confidence: 99%

What makes Ethereum blockchain transactions be processed fast or slow? An empirical study

Pacheco¹,

Oliva²,

Rajbahadur³

et al. 2022

Preprint

View full text Add to dashboard Cite

show abstract

“…Once a transaction has been logged in the blockchain, the details of the transaction, including the asset, price, and ownership, are immediately confirmed within a matter of seconds throughout all nodes, with a verified alteration on one ledger being instantaneously recorded on every other ledger. A specific node on the Ethereum blockchain is used to create a wallet address, which means that, with the aid of an API, it is easy to check the balance of a fee that an admin must pay, and the mining fee is deduced automatically by the Ethereum wallet address (Werner et al, 2020).…”

Section: Transaction and Gasmentioning

confidence: 99%

Design, Implementation, and Evaluation of Blockchain-Based Trusted Achievement Record System for Students in Higher Education

Awaji¹,

Solaiman²

2022

Preprint

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With a growing number of institutions involved in the global education market, it has become increasingly challenging to verify the authenticity of academic achievements such as CVs and diplomas. Blockchain is an enabling technology that can play a key role in solving this problem. This study introduces a blockchain-based achievement record system that produces a verifiable record of achievements. The proposed system aims to facilitate the process of authentication and validation of certificates reliably, easily and quickly, leveraging the unique capabilities offered through Blockchain technology (public Ethereum Blockchain) and smart contracts. We present the design and implementation of the system and its components and tools. We then evaluate the system through a number of studies to measure the system's; usability, effectiveness, performance, and cost. A System Usability Scale (SUS) test gave a scale of 77.1. Through a literature survey we demonstrate that this system is a significant improvement on legacy systems, being both more user-friendly and more efficient. We also conduct a detailed cost analysis and discuss the positives and limitations of alternative blockchain solutions.

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“…Accordingly, the capacities of Ethereum blocks are decided by the network in terms of gas units. Some studies investigate the precision of gas as a measure of true transaction execution cost [14], and others investigate how transaction gas prices can be set effectively [15]. In AC/DC, we use blockchain gas consumption as a measure of C-TX publication opportunity.…”

Section: Related Workmentioning

confidence: 99%

AC/DC: Adaptive Cutoffs and Disputable Cutoffs for Robust Critical Transactions in Smart-Contracts

Khalil

Dulay

2022

IEEE Trans. Netw. Serv. Manage.

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To guarantee delivery of their intended functionalities in the presence of unresponsive parties, current smartcontracts cut users off from being able to commit their responses after a fixed period of time has elapsed. However, current blockchains have limited transaction processing capacities, so a fixed amount of time will not always be sufficient to receive every critical transaction (C-TX). This paper presents a mechanism for adaptive cutoffs (ACs) which ensures that users retain the opportunity to commit C-TXs despite blockchain congestion, and enables early cutoffs when the number of required C-TXs is low. A non-interactive argument system for setting adaptive cutoffs under the current Ethereum Virtual Machine is described. Additionally, disputable cutoffs (DCs) are presented, which are a more efficient approach used in parallel to ACs based on a bisection-based dispute. Furthermore, it's empirically demonstrated that an AC/DC-enabled smart-contract can receive a larger number of C-TXs than its non-adaptive counterparts when user responsiveness is slowed due to denial of service or congestion.

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Step on the Gas? A Better Approach for Recommending the Ethereum Gas Price

Cited by 25 publications

References 7 publications

What makes Ethereum blockchain transactions be processed fast or slow? An empirical study

What makes Ethereum blockchain transactions be processed fast or slow? An empirical study

Design, Implementation, and Evaluation of Blockchain-Based Trusted Achievement Record System for Students in Higher Education

AC/DC: Adaptive Cutoffs and Disputable Cutoffs for Robust Critical Transactions in Smart-Contracts

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