0

I've been observing this chart on ethgasstation.info for some time. enter image description here

Those values are average from last 1500 blocks. Every time I look at the chart, confirmation time is shorter for gasPrice 1 gWei, but it should be shorter when gasPrice is 2 gWei. What do you think: is there some issue with this chart itself, or is it a rule of thumb for low gasPrice values?

1

The speed at which a transaction is mined is dependent on not just the gas price, but also on the overall number of pending transactions and the number of miners currently operating. It's a basic supply/demand model.

If there is not a lot of work pending, miners are not going to sit idle just waiting for the high gas price transactions to come in. They will still work on transactions @ 1 Gwei (assuming it's profitable...the miner can set a minimum price). If there is no other work, those transactions will get mined quickly, reducing the average processing time. Once transactions start coming in that pay a higher gas price, the miners will focus on those to try to increase revenue. At that point, the processing time on 1 Gwei transactions will go up as miners prioritize their work.

To take an extreme example, say (for simplicity) that those 1500 transactions were mined in a 10 minute period. Over the first 5 minutes, 100 1 Gwei transactions were submitted/processed. During this time, everything is humming along nicely without any saturation. Then, in the last 5 minutes 1400 2 Gwei transactions are processed. There's now a backlog causing the average response time of 2 Gwei transactions to be higher than 1 Gwei transactions.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.