But a default configuration Geth node has 4,096 slots (and shared memory at that).
🤔
So… most of the nodes on the network have room for ~2.56% of all pending TX.
In other words, many (most?) of the nodes on the network are wedged. 😲
This is mempool pressure. And the result is decreased predictability in transaction behavior.
We recommend that anyone transacting – shout out to the #yieldfarmers#liquidityminers#degens – monitor every transaction for unexpected behavior (dropped and stuck transactions).
Web3 Onboard is proud to support EIP- 6963. But what is EIP-6963 and how does it help? Let’s break it down for you… 🧵👇
Connecting wallets to dapps is a critical interface that can make or break a user’s experience. Until recently, dapp developers grappled with a significant challenge: if a user has multiple browser extensions/wallets (most of us these days!), it is completely unpredictable as to which wallet actually connects to the dapp.
This “race condition” to be the first wallet to connect to the dapp meant new wallets have a harder time connecting to dapps than incumbent wallets, creating unfair competition among wallet providers. Enter EIP-6963.
💸 Fees are effectively 2,000 GWEI
📈 Initially the Base Fee is low, so the Priority Fee drives the market until Base Fees catch up
(note we are looking at Min Priority Fee)
Let’s explore this launch in detail.
⚙️ The Base Fee is driven by market dynamics — and it ratchets up based upon how full the block is.
🧠 But the Priority Fee is driven by psychology. For highly anticipated NFT launches, you will spend about 2,000 Gwei while it's happening
EIP-1559 adoption is growing — now accounting for nearly 50% of all Ethereum transactions.
Here are updated preliminary results from our Mempool Data Archive:
🪡
Over the past day, Type 2 transactions represented an average of ~46% of total Ethereum transaction volume — up from ~21% (+119%) since we last looked.
Also, at least one hour saw a burst above 55%.
EIP-1559 📈
Type 2 transaction volumes continue to increase as leading wallets roll out their EIP-1559 support.
Our team is excited to introduce Mempool Explorer, a net-new way to build real-time streams of in-flight transaction data. Builders & traders can now easily work with live mempool data.
💸 Detect when >$10k of liquidity BEGINS to move in or out of a protocol
💬 Send slack messages for every inbound or outbound pending TX associated with your hot wallet
🪄 Know when an Oracle is in the process of updating
& much more.
Mempool data enables you to see #Ethereum events BEFORE they happen.🧙
However, because mempool data is pre-consensus, there is no single source of mempool-truth. This makes working with mempool data resource-intensive & error-prone for most builders and traders.
This is the first time we have published results from our forensic Mempool Archive. The investigation surfaced 3 major contributing mempool factors to the events on March 12 and 13:
Stablecoins are driving growth in #blockchain transactions for 2020 — now sustaining over $1B/day in avg. transaction volumes.
To better understand this market, we created a new report: “From Stablecoins to Crypto Dollars.”
🔎 Let's dig in to the highlights:
To better understand the growth of the stablecoin market, we leveraged @coinmetrics’ public data set in creating this report.
Since the market launched in 2017, the issuance and adjusted transfer value have seen impressive growth:
Drilling down, there are 3 major trends in stablecoins:
1⃣ @Tether_to's transition to Ethereum
2⃣ @MakerDAO's transition from SAI to DAI
3⃣ The emerging transition of Reserve Backed Stablecoins to Crypto Dollars