[Ethereum] gas price limit

gas-price

Every transaction on the Ethereum blockchain must consume less gas than the block gas limit, which can fluctuate depending on the weighted average sentiment of miners. To help incentivize inclusion of transactions when the gas limit is low, relative to the number of gas being consumed, a higher gas price can be set.

Is there an upper limit on gas price? Put another way, is there an upper bound on an individual transaction's transaction fee which is equal to quantity gas price x gas consumed? Or is the limit simply the amount of ether that the transaction's sender is willing to spend and has available?

(I came up empty-handed after a quick scan of the geth source code and couldn't find the answer on the web)

Best Answer

Transaction calls have a gasLimit and gasPrice attribute.

The block itself has gasLimit, but does not have any check on gas price. This is left to the tx sender to specify.

Now, this doesn't mean the miners will not discard tx's with low gasPrice.

http://ethgasstation.info/ This shows average gas price over time and many other cool metrics.

The maximum gasPrice is ultimately decided by the funds of the tx sender. If the gasPrice (the amount you are willing to spend for 1 gas worth of computation) is greater than the accounts balance in wei the tx will through.

So, max GasPrice = account.balance

Related Solutions

[Ethereum] ‘default’ gas price and does it change when price of ether relative to fiat rises

Yes, there is a default gas price in the clients. For Geth, its gas price oracle (Gpo) has nothing to do with fiat.

https://github.com/ethereum/go-ethereum/blob/master/cmd/utils/flags.go is Geth's code for the default gas price:

GpoMinGasPriceFlag = BigFlag{
    Name:  "gpomin",
    Usage: "Minimum suggested gas price",
    Value: big.NewInt(20 * params.Shannon),
}

The Gpo code is at:

https://github.com/ethereum/go-ethereum/blob/master/eth/gasprice/gasprice.go

In short, Geth's Gpo looks at how full previous blocks have been, to determine the direction of the gas price (see How does "Gas Price Oracle" work?). If blocks are full, the Gpo will adjust the gas price upwards even if ETH has increased in fiat terms.

[Ethereum] Gas Price Calculation

I've added a mock struct and mapping to your example and compiled it in Remix.

pragma solidity ^0.4.11;
// mock contracts
contract c{
 // mock mapping
 mapping (address=>uint) balances;
 // mock struct
 struct foo  {
     uint vault;
 }
function withdraw() returns (bool) {
    // init struct
    foo memory balance; 

    uint customerBalance = balances[msg.sender];
    if(customerBalance == 0) {
      throw;
    }

    balance.vault -= customerBalance;
    balances[msg.sender] = 0;
    return msg.sender.send(customerBalance);
}
}

The compiler returns. You spend your gas somewhere else. Please provide full contract.

Transaction cost: 160457 gas. Execution cost: 81525 gas.

UPD: Full contract cost

Transaction cost: 379244 gas. Execution cost: 245228 gas.

Best Answer

Related Solutions

[Ethereum] ‘default’ gas price and does it change when price of ether relative to fiat rises

[Ethereum] Gas Price Calculation

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