A naukri.com initiative
Hackernoon
1M
255
Image Credit: Hackernoon
How Long Does It Take To Process a Transaction in Ethereum?
- In Ethereum, transactions take a median of 57 seconds to be processed, with 90% of transactions processed within 8 minutes.
- Median-priced transactions at 9 GWEI are processed within 3 minutes and 4 seconds in 90% of cases.
- Specific values for gas prices are recurrently used, such as 1 GWEI and 10 GWEI, affecting processing times.
- Different gas price categories are processed within varying times, ranging from 50 minutes to 1 minute and 8 seconds in 90% of cases.
- Higher gas prices result in faster processing times with diminishing returns, as observed in the relationship between gas prices and processing times.
- Low gas price transactions may take longer to process due to lower priority, but can be processed quickly depending on contextual factors.
- Even very expensive transactions can sometimes experience delays, potentially due to preceding pending transactions with lower prices.
- The research involves statistical analysis, including Kruskal-Wallis and Dunn's tests, to compare and measure differences in transaction processing times based on gas prices.
- The study provides valuable insights for ÐApp developers to make informed decisions about gas prices and transaction processing times in Ethereum.
- Authors of the research include Michael Pacheco, Gustavo A. Oliva, Gopi Krishnan Rajbahadur, and Ahmed E. Hassan from various institutions.
Read Full Article
15 Likes
For uninterrupted reading, download the app