A naukri.com initiative
Hackernoon
1M
200
Image Credit: Hackernoon
Making Ethereum Transactions Faster and Cheaper
- The article focuses on understanding Ethereum transaction processing times, which is crucial for the development of cost-effective decentralized applications (ÐApps).
- Data was collected from sources like Etherscan, EthGasStation, and Google BigQuery to determine the typical processing times for transactions in Ethereum.
- The accuracy of estimation models used by services like Etherscan and EthGasStation was evaluated, revealing room for improvement especially for cheaper transactions.
- The study suggests that ÐApp developers should avoid very expensive transactions as their processing time does not significantly differ from expensive transactions.
- A simple linear regression model developed outperformed existing services for very cheap and cheap transactions.
- Further research can explore processing times under different settings and using alternative techniques, providing valuable insights for developers.
- The study's findings help optimize the balance between transaction fees and processing speed, benefiting end-users' experience on the Ethereum blockchain.
- The article stresses the need for more precise estimation services to enhance the efficiency of transaction processing in Ethereum.
- Disclaimer: Opinions expressed in the article are solely those of the authors and do not represent the views of Huawei.
- References include studies on smart contracts, blockchain technologies, and cryptocurrency-related topics, contributing to the existing body of research.
Read Full Article
12 Likes
For uninterrupted reading, download the app