IDEAS home Printed from https://ideas.repec.org/a/wly/intnem/v31y2021i3ne2113.html
   My bibliography  Save this article

An analysis of the fees and pending time correlation in Ethereum

Author

Listed:
  • José Eduardo de Azevedo Sousa
  • Vinícius Oliveira
  • Júlia Valadares
  • Glauber Dias Gonçalves
  • Saulo Moraes Villela
  • Heder Soares Bernardino
  • Alex Borges Vieira

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.

Suggested Citation

  • José Eduardo de Azevedo Sousa & Vinícius Oliveira & Júlia Valadares & Glauber Dias Gonçalves & Saulo Moraes Villela & Heder Soares Bernardino & Alex Borges Vieira, 2021. "An analysis of the fees and pending time correlation in Ethereum," International Journal of Network Management, John Wiley & Sons, vol. 31(3), May.
    • Handle: RePEc:wly:intnem:v:31:y:2021:i:3:n:e2113
    DOI: 10.1002/nem.2113
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/nem.2113
    Download Restriction: no
    File URL: https://libkey.io/10.1002/nem.2113?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:intnem:v:31:y:2021:i:3:n:e2113. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1002/(ISSN)1099-1190 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.