Shardeum Evolves: Advanced EVM with eth_estimateGas and eth_feeHistory
Shardeum implements Ethereum RPC methods, eth_estimateGas and eth_feeHistory, providing precise gas estimates and historical fee insights for enhanced user...
Shardeum implements Ethereum RPC methods, eth_estimateGas and eth_feeHistory, providing precise gas estimates and historical fee insights for enhanced user...
Salutations, Shardians! We’re thrilled to announce the integration of two essential RPC methods on Shardeum: eth_estimateGas and eth_feeHistory towards the end of 2023. Both of these RPC methods improve the experience of users interacting with the EVM and wider network in multiple ways and also show our continued commitment to the completion of key components that will make developers life easier building dApps on Shardeum. Every addition brings us one step closer to realizing the full Shardeum vision towards and beyond the mainnet!
Don't miss to read our blog that explains Shardeum's integration of all the necessary Ethereum JSON-RPC methods like the two methods we will be discussing in this blog.
eth_estimateGas is a JSON-RPC method used to estimate the amount of gas that would be required to execute a specific transaction on Ethereum Virtual Machine (EVM) compatible networks. Basically, eth_estimateGas provides a forecast of how much gas a particular transaction might require. It’s like getting a gas gauge reading before setting off on a road trip!
On the other hand, eth_feeHistory is a JSON-RPC method introduced as part of the EIP-1559 which was activated in the London hard fork in August 2021. eth_feeHistory gives insights into the past fee behavior on Shardeum, offering a clear picture of how transaction fees will evolve over time. Integrating these methods means our network is more transparent and user-friendly.
Utilizing eth_estimateGas lets users forecast gas needs with precision, meaning improved accuracy for users and dApps! This helps in ensuring transactions are neither overpaying nor running out of gas prematurely.
Developers can better structure and optimize their dApps by having an accurate gas estimation tool and can use this method to provide users with feedback on potential transaction costs, ensuring smoother user experiences.
Developers can use eth_estimateGas to understand how changes to their smart contract code might increase or decrease gas consumption. This can be particularly useful when trying to optimize a contract to be more gas-efficient.
Wallets can provide users with real-time, accurate fee suggestions. This enhances the user experience by removing the guesswork and offering clear transaction cost insights.
By providing a good estimate of the required gas, users can ensure they provide enough gas for their transactions. If a transaction is sent with too little gas, it will fail, and the gas provided will be consumed without the intended operation being completed. It’s worth noting that while eth_estimateGas provides a good approximation, it is still an estimation and not infallible!
eth_feeHistory provides a transparent lens into past transaction fees. It’s like having a financial history book of the Shardeum network at your fingertips. Knowledge is power, and this tool empowers users to make more informed transaction decisions.
Wallets can use the historical fee data to give users context about current fee rates. This helps in setting smarter, more economical transaction fees.
Developers gain a better grasp of transaction fee fluctuation patterns, allowing them to fine-tune their dApps for optimal performance.
By studying past fee trends, network enthusiasts and analysts can gain insights into Shardeum’s global usage patterns, aiding in strategic planning and forecasting.
It offers a transparent way to verify and understand how fees have been changing over time. Users can ensure that they are not overpaying and get a better sense of what to expect for future transactions.
By integrating fee history data, user interfaces can provide better feedback and visualizations about expected transaction costs, leading to a more informed and improved user experience.
Adopting eth_feeHistory would make sense for consistency and to allow easy integration with existing tools. As users become familiar with EIP-1559 on Ethereum and the tools that utilize eth_feeHistory, they might expect similar functionality on other EVM-based chains. Implementing similar fee mechanisms and supporting functions can help meet these user expectations.
These benefits highlight the tangible improvements both RPC methods bring to the Shardeum network, enhancing the experience for users, developers, and the broader community.
Every step we take is with the vision of offering the most scalable smart contracts platform with permanently low fees. With these new integrations, we’re not just advancing on our roadmap, but we’re also ensuring that Shardeum remains at the forefront of Web3 innovation. As we navigate the cosmos of code, rest assured, the sky’s not the limit – it’s just the beginning! Onward, Shardians! Thank you for being a part of this journey and keep soaring with Shardeum! 🚀🌌
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