Blockchain Transaction Fee Forecasting: A Comparison of Machine Learning Methods
Conall Butler, Martin Crane
Mathematics
School of Computing
Abstract

Ethereum cryptocurrency network transactions are cryptographically signed instructions between accounts. These instructions can be as simple as a transfer of ETH or more complex contract deployments that enable a variety of decentralized applications. Gas is the unit of computational work used when processing a transaction on the network. The number of gas units consumed by a transaction is dependent on the computational complexity of the transaction. Gas has a price per unit in ETH, and the price is submitted by the sender with the transaction.

Gas is the transaction-fee metering system of the Ethereum network. Users of the network are required to select a gas price for submission with their transaction, creating a risk of overpaying or delayed/unprocessed transactions involved in this selection. In this DCU research project, we investigate data in the aftermath of the London Hard Fork and shed insight into the transaction dynamics of the network after this major fork.