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Questions tagged [gas-price]

Questions dealing with the gas price of a transaction.

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16
votes
1answer
6k views

How much does it cost to use a contract?

Still new to ethereum and would like to know the price for a contract.
12
votes
2answers
13k views

how to estimate gas cost?

I have a function that iterate through an array, which could cost a lot of gas. But I still want to test out the estimate gas cost, then decide if I should maintain the design or not. function ...
18
votes
2answers
21k views

Can I set the gas price to whatever I want?

The default gas price is 0.02e12 Wei. But while creating transactions on the command line or Geth's Javascript console you can define your own gasPrice: web3.eth.sendTransaction({/* ... */, gasPrice: ...
3
votes
2answers
513 views

Would a minimal gas price tx ever be mined?

I want to mine and charge a minimal gas price (like the minimum required to prevent infinite loops and such), to enable many smaller transactions to be confirmed super cheaply and to lower the cost of ...
20
votes
1answer
3k views

What were the key assumptions and analyses that went into setting Ethereum's gas price?

Frontier was launched with a default gas price of 0.05e12 wei. In Homestead, the default was reduced to 0.02e12 wei. If this gas price is too low and operations on Ethereum are too cheap, for ...
6
votes
1answer
1k views

Is there a 'default' gas price and does it change when price of ether relative to fiat rises?

I understand how gas pricing works, so that is not my question. My question is, as the price of ether relative to fiat (US $) rises, does the 'default' gas price lower (if there is such a thing as ...
4
votes
2answers
2k views

What gives ether it's intrinsic value? [duplicate]

Trying to understand how ethereum and blockchain work. I keep hearing that miners are needed to do the computations to unlock a block (don't know if that's the correct term). My question is this: ...
20
votes
1answer
61k views

Gas price in ETH unit

I am wondering if there's a website that provides the price of the standard gas limit (21000 Gas, transaction cost for sending ETH) in ETH unit. I checked Ether.Fund site, but it provides the gas ...
4
votes
2answers
3k views

How can I estimate price of data storage? [duplicate]

I'd like to make estimations of the cost of an application, and one of the things I need is the price to store n kB of data on a contract. In ether and in USD. Where could I find rates or prices of ...
15
votes
1answer
1k views

How does “Gas Price Oracle” work?

How does "Gas Price Oracle" work? "Gas Price Oracle" is explained here in go-ethereum wiki, but it doesn't explain how it works. Where does it get the data from? How does it do its calculations?
8
votes
3answers
6k views

How to get the actual Gas price?

Is there a way to get the lowest and average price miners are asking for gas? Some statistics sites seem to have prices but they are outdated.
4
votes
1answer
3k views

Why “Insufficient funds” error?

I'm trying to send a transaction into testnet from an account having a balance of 516,561,000 Babbages. According to my calculations, this is exactly the cost of the transaction to perform. ...
10
votes
1answer
1k views

Geth Gas price too low for acceptance

Why is geth not letting me post a transaction with a low gasPrice? > ./geth console > eth.sendTransaction({ "from": "...", "to": "...", "gas": "30000", "gasPrice": "10", "value": "0.1" }) Gas ...
5
votes
2answers
1k views

With the rising Ether price to $9, doesn't this mean gas costs more?

With the increase in the ether price, doesn't gas cost more, hence higher price to execute a contract? What is the current gas price today to execute a typical contract or send a transaction?
3
votes
1answer
1k views

When calling a smart contract function, who gets paid and how much does the caller pay?

This is an extended question to What is "gas" and transaction fee in Ethereum?. Who gets paid and how much does the caller pay? Let's make some assumptions: There is a function F which ...
5
votes
2answers
2k views

How to get the transaction cost in a Truffle unit test?

How can I get the actual gas consumed by a sendTransaction inside a truffle test? In the following test, buyer sends an amount of 50 ETH to a contract: const EmptyContract = artifacts.require("...
7
votes
1answer
320 views

eth.gasPrice is returning less value than expected

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 ...
7
votes
4answers
3k views

How are miners minimum acceptable gas price determined?

In section 5 of the yellow paper, it states "there will be a (weighted) dustribution of minimum acceptable gas prices.." My question is what, if any, is the enforcement mechanism that ensures this ...
3
votes
1answer
652 views

what is difference between “gas” “gas price” and “fee”?

Can we say that gas is the unit of transaction fee ? And gas price is the same transaction fee ? If so, why we do not use ether and wei instead of gas ?
4
votes
1answer
522 views

How do you provide a GasPrice and GasLimit to overcome the “low tx nonce or out of funds” log message

I am getting the following logged by my private chain geth node when running a test in truffle: removed tx ( TX(ff8ec4f713e64fb25df07d153607e29629c9276b57e0b7e331f17b5a3c31fdd1) Contract: ...
3
votes
1answer
5k views

Can gas price be fixed under 2 gwei?

I see that 20 gwei is the default gas price. A simple token exchange fee is around 0.5$ at the current price (230$). Reducing gas to 2 gwei takes more time to confirm transaction but reduce the fee. ...
8
votes
3answers
858 views

trouble matching gas used in transaction with difference in account balance

I've fired up my testrpc and deployed a simple HelloWorld contract using truffle. I send a simple transaction to my contract and I log my account balance before and after the transaction. ...
3
votes
1answer
182 views

Determine network congestion, min required gas/gas price based on current conditions

Say I have an application that is making some low priority transactions. I'd like to keep them as low priority as possible without having them take 20+ minutes or poof and disappear. What's the best ...
2
votes
2answers
118 views

Will sharding allow for a much lower gas limit?

The current gas costs are for all nodes to process a transaction or contract function call. Once we have sharding, only a subset on the nodes(1 shard) will process that transaction/contract function ...
2
votes
4answers
1k views

Is there a gas price limit?

Every transaction on the Ethereum blockchain must consume less gas than the block gas limit, which can fluctuate depending on the weighted average sentiment of miners. To help incentivize inclusion of ...
1
vote
1answer
172 views

Alternative for String type in smart contract and Solidity?

Regarding the fact using String in contract is expensive, is there any alternative type in Solidity ? The input value (Payload) I want to set is as follows : {"SQN":4,"Node_ID":"...
1
vote
1answer
205 views

How to caculate/estimate Gas Limit and Gas Price based on current state of the ether network?

Ethgasstation and similar websites estimate proper Gas Price based on current state of Ethereum network. Is there any way of using working with Geth/web3 to estimate proper Gas Price? and similar to ...
0
votes
1answer
112 views

Question about Gas and Gas Price

In my transaction: gasPrice: 210000 blockHash: "0x69bd71736f2a5d2c83919a0de81a7de0b6b690bb6bdda3acff254d5c68f634bc", blockNumber: 3178, from: "0xc8caa71c16299b40b8579742a27ee53162886040", gas: ...
-1
votes
1answer
21 views

GAS price validation for transactions in OLD blocks

How does Ethereum verify GAS price stated within transaction, to be high enough for transactions stored in past blocks? Does each block include an average GAS-bid experienced by miner at the moment ...