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.
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