I am planning to buy an ESTATE. However, just to let know an owner I am interested on their land(to bid), I paid a fee of $25. It is ignored and I am moving on.
Now, when I want to bid on another land, I have to pay another $25. Is there anyway to make this cost less? I believe this is a huge barrier for people who want to invest.
“gas” refers to the computational effort required to execute operations or transactions on a blockchain network, particularly on platforms like Ethereum.
There is no way a simple bid should cost $25 !
You must learn how to instruct you wallet application to limit gas fees to agreeable amounts.
That way if network congestion happens to be high, your bid will simply stay in queue until the Base Gas Fee goes back down.
On a separate note, one key thing to understand about “getting transactions unstuck”, is that it is only the Priority Fee which needs to be increased by 10% for a transaction to replace a previous one (using a Custom Nonce).
When you replace a previous transaction, you can even set the Max Total Fee to lower than before !
This would be done for example in a scenario where urgency is needed, but not so much as to want to pay currently astronomical gas fees.
A high Max Total Fee would still be placed, in the hopes the fees would drop back down enough.
If that hope is dashed, and the transaction doesn’t take place on time, it can still be replaced with a new one having the 10% bump-up on the Priority Fee.
But then the Max Total Fee can actually be placed much lower, to cheap levels again, as the urgency will no longer be required.
The Priority Fee is the money the miners get to keep for their efforts.
Even when the Base Gas Fee has surged due to network congestion, and the Max Total Fee needs to be increased, the Priority Fee should be kept around the same low levels.
right, a bid shouldn’t need to execute a transaction, there should be ways to implement bids with signature which is a free action, but the devs should put effort on it.
Maybe you can try a canny request, let me know and I will upvote it: