I would like to understand how the Ethgasstation algorithm works. I did not find its explanation of reasoning. I found the explanation of another algorithm that looks like Ethgasstation but not exactly that of Ethgasstation. Thank you.
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2Which part exactly? It has lots of information – Lauri Peltonen Sep 26 '19 at 9:58
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Tx calculator, thank you. – AA05 Sep 26 '19 at 10:08
It's probably quite straightforward:
- Check the previous X blocks
- See what gas prices have been used in them
- See how long the transactions have taken with certain gas prices
- Possibly extrapolate results into the near future
- Display the results in the TX calculator to estimate near-future gas prices and how long transactions take with them
answered Sep 26 '19 at 10:23
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1Anything is possible, but I doubt it uses any sophisticated methods such as deep learning. Simple extrapolation is probably enough. – Lauri Peltonen Sep 26 '19 at 11:02
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1I don't think they just make use of a linear trend for example. Probably the more recent tx will be weighted more than the other ones. Thus giving a result that is more accurate. Either way great job +1 – Niklas Feurstein Sep 26 '19 at 12:33
