Blocknative | mempool.eth 🔮 Profile picture
Sep 23, 2020 10 tweets 5 min read Read on X
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.

Read the blog ➡️ blog.blocknative.com/blog/explorer
Go hands-on ➡️ explorer.blocknative.com
Thread ⬇️ Mempool Explorer from Block...
What can you do with #MPEX?

💸 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.
To make mempool data easy to work with, we need new building blocks: mempool primitives. The first involves real-time mempool data streams consisting of:
1⃣ A real-time data stream,
2⃣ Based on one or more unique addresses, & (optionally)
3⃣ Subject to one or more filters.
And to make this mempool primitive easy to work with, we are now introducing Mempool Explorer: the industry’s first front-end interface for building real-time mempool data streams.
#MPEX has a powerful host of features:
➕ Add & combine subscriptions
🔎 Filters for getting only the events you care about
👉 Selectors for the fields you want
🚀ABI upload support to decode contract inputs on the fly
🧱 Full #composability via webhooks
To help you get started, we’ve created several Mempool Explorer screencasts:

1⃣Quickstart & Walkthrough:
2⃣How to Add Custom ABIs:
3⃣Composability via Webhooks:
Mempool Explorer is powered by our proven Mempool Platform. This constantly captures, normalizes, & enriches the global mempool. So you get unmatched data coverage & transaction resolution. Note that while MPEX is free to access, it is subject to the rate limits of our API.
The Mempool Explorer experience is the result of 6+ months of development work and in-depth customer feedback about how to make mempool data easier to work with. It also encapsulates everything we know about how to extract maximum value from real-time mempool data.
We like to think of Mempool Explorer as a new building block in the #DeFi stack. And we're excited for you to go hands-on.

Get started and share what you build with #MPEX

Explorer.blocknative.com

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More from @blocknative

Apr 3
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.
Read 6 tweets
Nov 11, 2021
🚨 New data shows the surprising reality of Ethereum Gas Fees during major #NFT launches.

Hint: it’s not what you might expect.

It turns out that the Base Fee and Priority Fee combine during NFT launches to create a tabletop in Ethereum Gas Fees.

🧵
First, we will explore the @galaxy_eggs drop:

💸 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
Read 8 tweets
Aug 24, 2021
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.
Read 5 tweets
Aug 13, 2020
🚨 Mempool Congestion Alert 🚨

We are seeing sustained high rates of transaction eviction over the past several days.

For more on the impact of transaction eviction, see our Black Thursday post: blog.blocknative.com/blog/mempool-f… Rapid Increase In Transacti...
For perspective: Last night we tweeted that one of our large North American nodes had ~160,000 pending transactions in its mempool.


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.
Read 4 tweets
Jul 22, 2020
1/14

Just published: “Evidence of Mempool Manipulation on Black Thursday: Hammerbots, Mempool Compression, and Spontaneous Stuck Transactions”

blog.blocknative.com/blog/mempool-f…

⬇️
2/14

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:

⏰💳 Stuck Transactions
🧠🪗 Mempool 'Compression’
🔨🤖 Hammerbots

Let's explore:
3/14

⏰💳 Stuck Transactions

Mempool congestion significantly increased stuck transaction rates, effectively blocking subsequent transactions from the same address. Image
Read 14 tweets
Jun 4, 2020
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: Image
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: Image
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
Read 11 tweets

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