As the most important indicator of the ecological activity of the Ethereum network, the ” Gas price ” has always been one of the most important data of the Ethereum network participants, because it can be used to understand the network’s congestion level, ecological development or on- chain transactions Urgency.
With the increasing importance of gas price data, there are more and more third-party tools based on gas prices, which can be roughly divided into two categories:
- ” History ” of Gas price
- ” Prediction ” of future gas prices
Among them, the history of Gas price can assist research institutions to understand what has happened on the chain and the user behavior characteristics of various applications, and the prediction of gas price in the future can provide more accurate data for users, wallets, and applications that have transaction needs on the chain. reference.
For most users, the demand for gas fee forecasting should be more common. Many users may not know or directly perceive the existence of such services, because most of them are built into the function of cryptocurrency wallets , and users can use them directly without special attention. Choosing a suitable service will help the wallet calculate more accurate values for users, improve user experience, or save costs .
This article will introduce the 6 most noteworthy third-party data services related to Gas: GasNow, Blockchair, ETH Gas Station, Etherscan, ETH Gas.watch, fees.wtf.
For advanced players, this article will also introduce an advanced usage for quickly obtaining Gas prices.
What is Gas?
Let’s start with what Gas is.
In the Ethereum network, whether it is a transfer transaction or the execution of a smart contract, it needs to consume the computing or storage resources of the entire network, and the consumption of these resources is called Gas. For each on-chain transaction, two gas-related parameters need to be set, namely the ” Maximum Gas Consumption ” and ” Gas Price ” of this transaction. The multiplication of these two is the maximum Gas consumption cost of this transaction.
“Gas consumption” depends on the complexity of a single transaction . Some cross-smart contract transactions or very complex transaction logic require more gas. For the most common transfer transactions, the gas consumption is 21,000 . The unit of “Gas Price” is Gwei , which is completely priced by the market. It can be as high as 500 Gwei or more during network congestion, and as low as 10 Gwei during bear market.
Gwei is a measurement unit of ETH, where wei is the smallest unit of ETH. Wei comes from the name of Chinese-American cryptography expert Dai Wei . The B-money invented by him is considered to be the spiritual leader of Bitcoin. The specific conversion method is:
1 ETH = 10^9 Gwei = 10^18 wei
GasNow: The most real-time and accurate Gas price recommendation
Many of the services mentioned in this article provide real-time Gas price recommendations , but GasNow is the most recommended.
GasNow gives instructions based on the gas price distribution of real-time transactions in the Spark Pool node trading pool. Its data has the characteristics of real-time and accuracy. Users can judge the current Gas price more quickly and accurately based on real-time data.
So recently many wallets have announced the use of GasNow services, such as imToken, Maizi Wallet, MYKEY, TokenPocket, Trust Wallet.
What’s interesting is that GasNow also launched a macOS- based desktop gadget to facilitate heavy users. After installation, users can check the gas price that is regularly refreshed in real time in the title bar.
Highlights : The recommended gas price launched by the largest mining pool in Ethereum is currently the most worthy of reference data.
Applicable scenarios : For most users, you may not need to use this service directly, because the mainstream wallets have built-in GasNow, and they have already enjoyed the more accurate price predictions provided by GasNow. For heavy users, the experience of installing a macOS version will be better.
Blockchair:
Reflect the most real overall load of the Ethereum network
For Ethereum Gas price data, the most noteworthy tool provided by Blockchair is the median gas price per day on the Ethereum network-the median is better than the average gas price per day provided by other companies Reflect the actual operation of the network. For example, there have been many cases in history where users set a sky-high Gas Price. Such extreme abnormal values will cause the average gas price to fail to reflect the overall situation of the day. In contrast, the median can not be affected by these extreme outliers , reflecting the true load of the network.
Blockchair is also an old-brand block explorer that supports multiple blockchains. It currently supports block data searches for 16 public chain networks, and has also produced various charts for the data of various public chain projects. They provide a diverse and rich data interface , which is also one of their profit models.
Highlights : Compared with other companies using the average value as a reference for historical data, Blockchair’s use of the median can effectively eliminate outliers in Gas prices.
Applicable scenario : Based on other data or events, refer to the median gas of a certain day in history. For example, as of today, the highest single day in history is the day when Uniswap issued the governance token UNI. The median gas price reached 542. It also means that half of all transactions on the Ethereum network on September 17th had Gas prices exceeding 542 Gwei.
ETH Gas Station: The most comprehensive application gas consumption statistics
Before the launch of GasNow, ETH Gas Station has always been a source of ” recommended gas prices ” for various wallets or the industry’s main reference. But in addition, the gas consumption of each application or smart contract calculated by ETH Gas Station is also a data worthy of reference and research.
ETH Gas Station provides a ranking of gas consumption by a single chain contract in the past 30 days on the homepage. Through this list, you can observe some of the most active projects in the last 30 days, as well as specific gas consumption, average gas price of a single contract and other data .
Highlights : Gas consumption data accurate to a single smart contract.
Applicable scenarios : You can discover emerging or popular smart contracts on the chain through the Gas consumption list.
Etherscan: The most comprehensive Ethereum block data query and chart
Etherscan is the block explorer with the largest ecological traffic in Ethereum, and it is also the default choice for most Ethereum users and applications. Etherscan provides diversified block data searches and charts , as well as Gas price recommendations and gas price average charts similar to GasNow. Etherscan functions are relatively comprehensive, but the individual functions are not as professional as these services.
Highlights : More comprehensive data and more chart types.
Applicable scenarios : Provides diversified Ethereum block data and trend charts, suitable for more long-tail needs.
ETH Gas.watch: Ethereum Gas Price Email Alert Tool
For users whose transaction needs are not particularly urgent, ETH Gas.watch can help you find low gas prices and reduce transaction costs on the chain. You can use it to set up an email reminder , for example, when the Gas price is lower than 50 Gwei, send an email reminder, and then perform tasks that are less urgent on-chain interactions.
ETH Gas.watch is a brand-new gadget. In addition to monitoring the gas price and alerting via email, it also aggregates multiple gas price prediction services and can query multiple data sources on one website.
Highlights : Email alerts, aggregation of multiple Gas price prediction services.
Applicable scenarios : For low-frequency and non-urgent transaction needs, you can find low-price opportunities through ETH Gas.watch.
fees.wtf:
Account Gas Consumption Record Query
Users can query the total amount of Gas consumed by an Ethereum address through fees.wtf . After using this service, many people find that they have consumed so much ETH. For example, one of my addresses consumes more than 1 ETH of Gas cost. , The average gas price per transaction is 55 Gwei.
Similar services: [https://oh.mygas.io]
Advanced usage for advanced players: iOS “shortcut”
Some of the above data services provide API interfaces to the outside world. Users with a little knowledge of programming or advanced users can use the interface to build services that suit them. Professional users can use Python or other programming languages and servers to build dedicated services, but for ordinary users, some simple tools can actually improve efficiency, especially for heavy users .
Taking the interface provided by GasNow as an example, the simplest solution is that iOS users can quickly or regularly obtain Gas prices through the ” shortcut ” App. I also made a shortcut for download and trial, and run it directly after downloading, and the real-time Gas price will be displayed through push .
You can also use the “shortcut” automatic setting to get the function regularly, or use the iOS 14 ” tap back ” function to set up gestures to trigger quickly.
