As mentioned in documentation eth.gasPrice returns the current gas price. The gas price is determined by the x latest blocks median gas price.
I was relying on this method to estimate current gas price that I send along with my transactions. But recently I faced an issue, most of my transactions are pending.
When I looked at the transactions, the gas price provided was 35 GWei, while on eth gas station, the safe low gas price is 57 GWei.
I checked the value of eth.gasPrice` on my node and this resulted to 25000000000 (25 GWei).
Why the value of eth.gasPrice is so low when the gas price of the network is increased to double.
I also checked some recent transactions on etherscan : 0xf5ccc6ecc36b318c8ac9794e2b472fa2f9b3acc0b2adf662b4f858b76a69c278, 0x123789fd42ad2037fff8bfaca3caeb6bec179b4630588902ae95c9515c742432, 0xf78960adb886d9a31549a04154ce459e00896dac6c7156e749c63f6755c5a4c9
All of them has gas price of 60 Gwei. So why is
eth.gasPrice is giving me 21GWei? Can I rely on this method to estimate current gas price? Are there any alternatives?
edit: Recently the values returned by eth.gasPrice has been to 2 GWei, and the transactions (here) are pending for more than a day. While I can see the safe-low is around 12 Gwei.This function ditched me again.