1. Transaction fees optimization in the Ethereum blockchain
- Author
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Arnaud Laurent, Luce Brotcorne, Bernard Fortz, Integrated Optimization with Complex Structure (INOCS), Inria Lille - Nord Europe, Institut National de Recherche en Informatique et en Automatique (Inria)-Institut National de Recherche en Informatique et en Automatique (Inria)-Université libre de Bruxelles (ULB)-Centre de Recherche en Informatique, Signal et Automatique de Lille - UMR 9189 (CRIStAL), Centrale Lille-Université de Lille-Centre National de la Recherche Scientifique (CNRS)-Centrale Lille-Université de Lille-Centre National de la Recherche Scientifique (CNRS), Département d'Informatique [Bruxelles] (ULB), Faculté des Sciences [Bruxelles] (ULB), Université libre de Bruxelles (ULB)-Université libre de Bruxelles (ULB), and Institut National de Recherche en Informatique et en Automatique (Inria)
- Subjects
Optimization ,Ethereum ,Blockchain ,General Engineering ,Gasprice ,General Earth and Planetary Sciences ,[INFO.INFO-RO]Computer Science [cs]/Operations Research [cs.RO] ,Monte-Carlo ,Ether ,ComputingMilieux_MISCELLANEOUS ,Pricing ,General Environmental Science - Abstract
International audience; 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.
- Published
- 2022