How does Etherscan calculate gas prices?

3 answers

• Dec 25, 2021 · 3 years ago
  Sure! Etherscan calculates gas prices based on the current network congestion and the gas price recommendations provided by miners. When you send a transaction on the Ethereum network, you need to specify a gas price. Etherscan looks at the recent transactions and their gas prices to estimate the gas price required for your transaction to be included in the next block. It's important to note that gas prices can fluctuate depending on network demand and miner behavior. So, Etherscan provides an estimate, but the actual gas price may vary.
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• Dec 25, 2021 · 3 years ago
  Etherscan uses a combination of historical data and real-time analysis to calculate gas prices. They monitor the Ethereum network and collect data on recent transactions, including their gas prices and the time it took for them to be confirmed. By analyzing this data, Etherscan can estimate the gas price needed for a transaction to be processed in a timely manner. Factors such as network congestion, gas limits, and miner behavior are taken into consideration. It's a complex process, but Etherscan's algorithms do a good job of providing accurate gas price estimates.
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• Dec 25, 2021 · 3 years ago
  As an expert in the field, I can tell you that Etherscan is one of the most reliable sources for gas price information. They have been in the industry for a long time and have built a strong reputation for their accurate calculations. Etherscan takes into account various factors such as network congestion, miner recommendations, and historical data to provide users with the most up-to-date and accurate gas price estimates. So, if you're looking for reliable gas price information for your Ethereum transactions, Etherscan is definitely a great choice.
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