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Balancing Transaction Speed and Fees in Decentralized Apps
- The article discusses the importance of balancing transaction speed and fees in decentralized applications (DApps), focusing on Ethereum.
- It presents a motivating example of a DApp development organization aiming to provide a certain quality of service within budget constraints.
- The article emphasizes the significance of accurate transaction processing time estimations for achieving the desired time-expense balance.
- It simulates a scenario where a developer uses an imperfect estimation service to make transaction decisions based on predicted processing times and budget limitations.
- Results show the impact of estimation accuracy on the time-expense balance, indicating the need for improved estimation services in DApp development.
- Enhanced accuracy in estimations leads to better time-expense balance and cost-effectiveness for DApp developers.
- The paper aims to study transaction processing times on Ethereum and assess the accuracy of existing estimation services.
- Transaction processing time is defined as the duration from the pending state to the processed state of a transaction on the blockchain.
- Results are obtained by mining data from the Etherscan website, focusing on pending and processed timestamps rather than blockchain-recorded timestamps.
- The study's authors include members from Queen’s University, Canada, and the paper is available under CC BY-NC-ND 4.0 DEED license.
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