How does web3 estimategas function work and how accurate is it?

3 answers

• Clinton AveryNov 07, 2021 · 4 years ago
  The web3 estimategas function is a feature in the web3 library that allows developers to estimate the amount of gas required for a transaction on the Ethereum network. It analyzes the complexity of the transaction and calculates an estimate based on historical data. However, it's important to note that the estimategas function is not always 100% accurate. The actual gas cost may vary depending on network congestion and other factors. It's always a good practice to add a buffer to the estimated gas value to ensure the transaction is successful.
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• ArkaszJul 26, 2021 · 4 years ago
  The web3 estimategas function is like a crystal ball for gas estimation in cryptocurrency transactions. It uses a combination of magic and algorithms to predict the amount of gas needed for a transaction. While it's generally accurate, there can be some discrepancies due to network conditions and other variables. It's always a good idea to double-check the estimated gas value and make adjustments if necessary. Remember, the estimategas function is a helpful tool, but it's not infallible.
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• JeyaJul 20, 2023 · 2 years ago
  As an expert in the field, I can tell you that the web3 estimategas function is a valuable tool for developers. It provides an estimate of the gas required for a transaction, which is crucial for optimizing transaction costs. However, it's important to understand that the estimategas function is just an estimate and may not always be 100% accurate. Factors such as network congestion and gas price fluctuations can affect the actual gas cost. It's recommended to use the estimategas function as a starting point and adjust the gas value based on real-time conditions.
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