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Ethereum gas price statistics

Author

Listed:
  • David Carl
  • Christian Ewerhart

Abstract

For users of the Ethereum network, the gas price is a crucial parameter that determines how swiftly the decentralized consensus protocol confirms a transaction. This paper studies the statistics of the Ethereum gas price. We start with some conceptual discussion of the gas price notion in view of the actual transaction-selection strategies used by Ethereum miners. Subsequently, we provide the descriptive statistics of what we call the threshold gas price. Finally, we identify and estimate a seasonal ARIMA (SARIMA) model for predicting the hourly median of the threshold gas price.

Suggested Citation

  • David Carl & Christian Ewerhart, 2020. "Ethereum gas price statistics," ECON - Working Papers 373, Department of Economics - University of Zurich.
    • Handle: RePEc:zur:econwp:373
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    File URL: https://www.zora.uzh.ch/id/eprint/194455/1/econwp373.pdf
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    More about this item

    Keywords

    Ethereum; gas price; confirmation time; forecasting;
    All these keywords.

    JEL classification:

    • C57 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Econometrics of Games and Auctions
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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