I am using Web3JS 1.0+ to send transactions to my smart contract.
I've been using the following constant for the gas price in my code that I got a long time ago from a tutorial. What is the "professional" strategy for determining what gas price to pass to
sendSignedTransaction() on the Ganache, Rinkeby and main networks?
What Web3JS method(s) do I call to determine the correct gas price? Note, in my dApp paying a bit extra for gas is the preferred choice over trying to save some money on gas at the risk of transactions mining more slowly.
const DEFAULT_GAS_PRICE_GWEI = '0x09184e72a000';
I found the following post on the subject, but I'm wondering if there is something more nuanced:
The top answer on that post outlines the technique of using the gas price found in recent blocks or using the gas price oracle available from Web3JS, which uses the median value for the gas price found across recent blocks. My concern with using the median value is that if there is a temporary surge in gas price you could end up with orphan or slow transactions on the network that were submitted before the gas price surge.