Transaction fees optimization in the Ethereum blockchain

Laurent, A.; Brotcorne, L.; Fortz, Bernard

doi:10.1016/j.bcra.2022.100074

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Article (Scientific journals)

Transaction fees optimization in the Ethereum blockchain

Laurent, A.; Brotcorne, L.; Fortz, Bernard

2022 • In Blockchain: Research and Applications, 3 (3)

Peer reviewed

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https://hdl.handle.net/2268/308573

DOI
10.1016/j.bcra.2022.100074

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Keywords :

Pricing; Blockchain; Ethereum; Optimization; Gasprice; Ether; Monte-Carlo

Abstract :

[en] In blockchains, transaction fees are fixed by the users. The probability for a transaction to be processed quickly increases with the fee level. In this paper, we study the transaction fee optimization problem in the Ethereum blockchain. This problem consists of determining the minimum price a user should pay so that its transaction is processed with a given probability in a given amount of time. To reach this goal, we define a new solution method based on a Monte Carlo approach to predict the probability that a transaction will be mined within a given time limit. Numerical results on real data highlight the quality of the results.

Disciplines :

Quantitative methods in economics & management
Computer science

Author, co-author :

Laurent, A.

Brotcorne, L.

Fortz, Bernard ; Université de Liège - ULiège > HEC Liège Research > HEC Liège Research: Business Analytics & Supply Chain Mgmt

Language :

English

Title :

Transaction fees optimization in the Ethereum blockchain

Publication date :

2022

Journal title :

Blockchain: Research and Applications

Volume :

Issue :

Peer reviewed :

Peer reviewed

Additional URL :

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85136051644&doi=10.1016%2fj.bcra.2022.100074&partnerID=40&md5=c422a3e11ffcd1274260d2c38c08f055

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