Ethereum is one of the most popular platforms for the development of blockchain-powered applications. These applications are known as Dapps. When engineering Dapps, developers need to translate requests captured in the front-end of their application into one or more smart contract transactions. Developers need to pay for these transactions and, the more they pay (i.e., the higher the gas price), the faster the transaction is likely to be processed. Therefore developers need to optimize the balance between cost (transaction fees) and user experience (transaction processing times). Online services have been developed to provide transaction issuers (e.g., Dapp developers) with an estimate of how long transactions will take to be processed given a certain gas price. These estimation services are crucial in the Ethereum domain and several popular wallets such as Metamask rely on them. However, their accuracy has not been empirically investigated so far. In this paper, we quantify the transaction processing times in Ethereum, investigate the relationship between processing times and gas prices, and determine the accuracy of state-of-the-practice estimation services. We find that transactions are processed in a median of 57s and that 90% of the transactions are processed within 8m. The higher gas prices result in faster transaction processing times with diminishing returns. In particular, we observe no practical difference in processing time between expensive and very expensive transactions. In terms of accuracy of processing time estimation services, we note that they are equivalent. However, when stratifying transactions by gas prices, Etherscan's Gas Tracker is the most accurate estimation service for very cheap and cheap transaction. EthGasStation's Gas Price API, in turn, is the most accurate estimation service for regular, expensive, and very expensive transactions.
翻译:Eterum 是开发链路应用程序最受欢迎的最廉价平台之一。 这些应用程序被称为 Dapps 。 当工程设计 Dapps 时, 开发商需要将应用程序前端记录的请求转换成一个或多个智能合同交易。 开发商需要支付这些交易的费用, 交易的处理速度可能越快( 天然气价格越高 ) 。 因此, 开发商需要优化成本( 交易费) 和用户经验( 交易处理时间的准确性) 。 已经开发了在线服务, 以提供交易发行商( 如 Dapps 开发商), 并估算在一定的天然气价格下, 开发者需要将其应用前端记录的请求转换为一个或多个智能合同交易。 这些估算服务在Ethetenum域中非常关键, 以及Metamask 等一些流行的钱包依赖这些交易。 然而, 他们的准确性还没有被调查到。 在本文中, 我们量化了交易处理时间与天然气价格的关系, 并且确定价格估算服务的准确性。 我们发现, 交易的处理速度在57 G 交易的中, 最接近于E 定期交易中, 我们观察了 的正常的 的 价格 。