Download This PaperEthereum Gas Price Statistics
University of Zurich, Department of Economics, Working Paper No. 373, 2020
26 Pages Posted: 15 Jan 2021
Date Written: December 22, 2020
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.
Keywords: Ethereum, gas price, confirmation time, forecasting
JEL Classification: C57, C22, D85, E37
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