ETHEREUM : 2.6 Milllions Fees for one transaction : THE EXPLANATION !

ETHEREUM : 2.6 Milllions Fees for one transaction : THE EXPLANATION !

By Talibamba | Talicrypto | 11 Jun 2020



Two errors with far too many zeros

Yesterday, the 11 june 2020, two transactions on the Ethereum network included toootally exorbitant gas costs.

On the first, we saw trading 0.55 ETH - or about $ 136 - for a total transaction fee of more than 10,668 ethers, or about $ 2.6 million! And again this other : 350 ETH - or $ 86,400 - were exchanged for fees of 10,668 ethers once again.


Here is the first $ 2.6 million “error” (?), Wednesday June 10 - Source:
The person behind these transactions was probably mistaken in entering the price of the gas charges. Even if the Ethereum network is well saturated, they are between 20 and 50 Gwei great maximum in recent times. Now, the price of gas has been set at 508,034,850 Gwei (0.508 ETH) for these transactions, 10 million times more than necessary!



The second “error”, which occurred on Thursday June 11 - Source:
When we multiply this gas price by the gas limit usually necessary to carry out a standard transaction on Ethereum, this gives 0.508 x 21,000 = 10,668 ETH of charges!



Some miner are now very happy :D !!

And thanks to lejournalducoin to this details :D


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