Friday 19 October 2018

Brave experiments with Gas price




At the picture and we see that we can set Gas price equal 2 or even 1 GWEI!

On the site we can predict the approximate time of transaction execution: https://ethgasstation.info/calculatorTxV.php

The calculator shows that for the 2 GWEI the time of the transaction will be  33335 sec. Hm almost 10 hours... The other prices and estimated times:
  • 1 GWEI = 35290 sec
  • 2 GWEI = 33335  sec
  • 3 GWEI = 13328 sec
I have enought time so let's try!

I went to my wallet and made 3 offline transactions. In the offline transactions it is possible to set the Gas price: https://www.myetherwallet.com/#offline-transaction
I set the Gas prices equal "1", "2" and "3" GWEI and the amount of transaction is 0.001 ETH (0.001 * ($203.92 USD / 1 ETH)* 60 = 12 RUB). Additionally it is necessary to set the new magic parameter: Nonce. I'm sure it is very important to set correct "Nonce" but for now I left default value "1".

The transactions start time was:


  • 14:00 (Gas price 1, Nonce = 1)
  • 14:20 (Gas price 2, Nonce = 1)  this transaction should eventually rejected by network because it is not allowed set the same values for Nonce. They should always increased by one. 
  • 14:29 (Gas price 3, Nonce = 2)

    • Now waiting and look at the wallets here:

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