A way to estimate transaction fee to get a reasonable mining time in a high blockchain load

[davidyuk]

[subhod-i]

I am thinking if 'calculateFee` can return a floor and ceiling value. What do you think?

{
    minFee: 00000160000000
    maxFee: 00000200000000
}

this would help aepps developer to implement a fee slider too for the users.

[davidyuk]

Ideally it should be a mapping of expected time to fee

Like in Ethereum before POS https://ethgasstation.info:

• less then 2 minutes => set gas price to 53
• less then 5 minutes => set gas price to 14
• less then 30 minutes => set gas price to 8

[marc0olo]

is there already a plan how to calculate this or how to get the required info? it's good to see that this topic is finally being tackled (although not really relevant right now 😅 )

[davidyuk]

Let's assume that all transactions have the same type and size. Each mined transaction has a fee. We are looking for a minimum fee to pay to get our transaction mined in a specific time interval (like the next 5 minutes). We can't predict it by previously mined transactions for sure because demand can vary significantly due to external reasons.

As a greedy solution I propose to use the minumum fee paid by somebody in the last N minutes. Using that fee, our transaction would be probably mined in the next N minutes. Would be efficient to calculate it using middleware, but for now I can do it on the sdk (client) side.