This article presents the first empirical investigation into transaction processing times on the Ethereum blockchain, essential for potential app developers. It details data collection methods and results, revealing that three-quarters of transaction processing times fall between 33 seconds and 2 minutes 23 seconds. Additionally, it evaluates the accuracy of estimates provided by platforms like Etherscan and EthGasStation. By categorizing gas prices, the study supplies vital information to developers regarding cost-effectiveness when using the Ethereum platform for their applications.
To the best of our knowledge, our study is the first one to empirically investigate transaction processing times in Ethereum, providing valuable insights for developers.
Our findings show that three quarters of the processing times lie in the range of 33 seconds to 2 minutes and 23 seconds, which is crucial for developers.
We analyze gas prices, grouping them into categories, which helps developers understand what constitutes cheap versus expensive in terms of gas price.
This study offers app developers a baseline for transaction processing times in Ethereum, aiding those evaluating its suitability for app development.
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