How can I use the cost estimator oracle to calculate transaction fees for digital currencies?

1 answers

• Felipe Silva de AzevedoApr 09, 2024 · a year ago
  BYDFi offers a cost estimator oracle that can be used to calculate transaction fees for digital currencies. To use BYDFi's cost estimator oracle, you can follow these steps: 1. Sign up for an account on the BYDFi platform and obtain the necessary API credentials. 2. Integrate the BYDFi oracle API into your application or platform. 3. Retrieve the current fee rates from the BYDFi oracle using the provided API. 4. Calculate the transaction fee by multiplying the fee rate with the transaction size or value. BYDFi's cost estimator oracle takes into account factors such as network congestion, gas prices, and current market conditions to provide accurate fee estimations. By using BYDFi's oracle, you can ensure that your transaction fees are calculated based on real-time data and reflect the current state of the digital currency network.
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