 An analysis of the fees and pending time correlation in EthereumJosé Eduardo de Azevedo Sousa, Vinícius Oliveira, Júlia Valadares, Glauber Dias Gonçalves, Saulo Moraes Villela, Heder Soares Bernardino and Alex Borges Vieira International Journal of Network Management, 2021, vol. 31, issue 3 Abstract: Ethereum is a new blockchain‐based platform that is also capable of running smart contracts. Despite its increasing popularity, there is a lack of studies on characterizing this system, in special the fees paid by users and the respective delay to confirm the transactions, that is, the pending time. In this sense, we study the main features of Ethereum transactions and evaluate the common belief—for blockchain systems that rely on proof of work—that users who pay higher fees will have their transactions confirmed faster. Specifically, we collect information about 7.2 million of transactions in Ethereum and correlate their pending time to several fee‐related features. Moreover, we conduct our study evaluating different ranges of values for the features, such as default and unusual values adopted by users as well as clusters of users with similar behaviors. Our empirical analysis shows strong evidence that there is no clear correlation between fees‐related features and the pending time. Overall, we conclude from our investigation that transaction's features, including gas and gas price defined by users, cannot determine the pending time of transactions. Date: 2021 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:wly:intnem:v:31:y:2021:i:3:n:e2113 Access Statistics for this article More articles in International Journal of Network Management from John Wiley & Sons |
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