This article examines the intricacies of computing transaction processing times on the Ethereum blockchain, illustrating the difficulties in obtaining pending and processed timestamps. It highlights that Ethereum's decentralized architecture complicates timestamp tracking, as each miner maintains its own pending transaction pool without central record-keeping. The study explores the accuracy of transaction time estimates provided by platforms like Etherscan and EthGasStation, proposing simpler model derivations based on data collected from multiple nodes. The results emphasize the necessity for accurate transaction time estimations for better user experiences in the Ethereum ecosystem.
Obtaining accurate values for pending and processed timestamps remains a complex challenge in Ethereum due to the decentralized nature of its network and varying miner nodes.
Transaction processing time in Ethereum is significantly influenced by gas prices and network congestion, leading to variable processing times and the need for accurate estimation models.
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