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Why Ethereum transactions are performed at different times: a deeper dive into gas rates
Ethereum, a decentralized platform to create intelligent contracts and decentralized applications (Dapps), depends on transactions being performed in a timely manner. One of the main factors that influence this process is the gas rate system, which determines how much cryptocurrency an actor must pay to perform a transaction.
In Ethereum, two types of gas rates are used: price of base gas (bgasprice) and priority price of gas (pgasprice). Base gas prices determine the minimum amount of gas required for a transaction to be performed. Priority prices of gas, on the other hand,
In this article,
Understanding base gas prices
Gas base prices are defined by protocol reserve holders. These prices determine the minimum. The current
Understanding Gas Priority Prices
Gas priority prices, also known as priority rates or priority levels, are determined by the Ethereum network priorities list. This list assigns higher priority transactions to run faster than the lowest priority within a specified deadline (eg a block). The current priority level is defined based on the number of pending transactions and their priorities.
Why transactions are performed at different times
Now that we understand the basic prices and the priority prices of gas, let’s examine why Ethereum transactions are usually executed at different times. There are several reasons for this:
- Base gas price :
- Gas priority prices : Ethereum network ensures that important transactions (for example, those with high -value transactions or urgent problems) can be performed quickly, even if they require more gas.
- Transaction priorities : When a transaction is created, its priority is attributed this means that lower priority transactions receive higher execution times than those of the highest priority.
Example: transaction with greater priority
It supposes that we have two transactions:
1.
.
In this scenario, tx1 would be performed faster than TX2, although TX2requires more gas (due to its highest base price). This is because the Ethereum network prioritizes high priority transactions over the lowest priority. As a result,tx1` would be executed earlier, regardless of the total cost.
Conclusion
In conclusion, the execution of the transaction of Ethereum the current when