Gas price in ETH unit

Question

I am wondering if there's a website that provides the price of the standard gas limit (21000 Gas, transaction cost for sending ETH) in ETH unit.

I checked Ether.Fund site, but it provides the gas price in BTC and is based on ether pre-sale rate.

score 29 · Answer 1 · edited Aug 25 '17 at 00:13

29

There is no fixed gas price that transactions must have.

You can specify the gas price, and if you set a gas price within certain bounds, the transaction will be accepted by miners using their default values and oracle.

The default gas price is now 0.02 microether which is equivalent to:

0.00000002 Ether (.02 * 1e-6)
0.02e12 wei
20000000000 wei
20e9 wei
20 Gwei (gigawei)
0.02 szabo

When you send ETH, your client (Geth or Parity) will use the default gas price of 0.02 microether.

If 1 ETH is $10, 1 gas will cost 0.00000002 * 10 dollars.

If ETH is $10, 21000 gas will cost 0.00000002 * 10 * 21000 = 0.0042 dollars, which is 0.42 cents.

If ETH is $1000, 21000 gas will cost 0.00000002 * 1000 * 21000 = 0.42 dollars, which is 42 cents.

edited Aug 25 '17 at 00:13

pfrank

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answered May 15 '16 at 06:22

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Um, wouldn't it be .0042 cents, not .42 cents? – Brain2000 Jul 21 '16 at 02:51
@Brain2000 0.5 dollars would be 50 cents, so is there a mistake elsewhere? – eth Jul 21 '16 at 05:22
Oh, I see. My bad. The way it's written I was mistaking it for $0.42, not 0.42 of one single cent as you intended. – Brain2000 Jul 21 '16 at 12:49
@eth Is the gas price for public and private network same? Because in my private network I can see gas price=0.02 ether per million gas but from this link gas price is 10 szabo= 0.00001 ETH. I don't know which price should I consider? – Prashant Prabhakar Singh Jul 29 '16 at 06:54
@PrashantPrabhakarSingh: What you see in your network is correct; the link is old. – eth Jul 29 '16 at 07:20
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Same calculation with current ether price (250$) is 0,105$ and probably get larger. Is there any miners having less than default gas price (0.02 microether)? And what would the probability for miners having very low gas price to deploy a transaction? @eth – alper Jun 07 '17 at 23:16
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@Avatar http://ethgasstation.info suggests that a gas price of 2 Gwei (0.002 microether) will be confirmed in less than 5 minutes on average. – eth Jun 11 '17 at 08:17
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Just corrected the dollars to cents conversion, I believe? @CaptainBli confirm? – pfrank Aug 24 '17 at 17:52

score 0 · Answer 2 · edited Dec 24 '23 at 13:52

There is no fixed gas price that transactions must have.

However, you can use the fast gas feed from the Chainlink decentralized oracle service to tell you what gas price you need to set for your transaction to go through "fast". The fast gas feed gets independent updates from different oracles and posts an aggregate of it on-chain, so anyone can know what the current price of "speed" on the network is.

A transaction going through in under 2 minutes at the moment is considered to be fast.

Gas price in ETH unit

2 Answers2

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