Calculating the optimal Ethereum Gas Fees
Calculating the optimal Ethereum gas fees has always been a challenge, and GasNow was designed to overcome that problem. The system allowed its users to determine the best possible time to initiate a trade and how much the transaction fees would be.
GasNow issued an end-of-service announcement on its website confirming that it would be shutting down its services on October 15. The system further thanked its users for their continued support.
GasNow is shutting down its services due to China’s latest crackdown on cryptocurrency trading and mining. With the parent SparkPool being one of the largest ETH mining pools in the country, it has been forced to halt its services as per the nation’s regulation.
Alternatives to GasNow
The fan favorite’s exit has created an opportunity for other Ethereum gas price forecasters to take the throne.
- Ethgasstation.info — This website aims to increase the clarity around gas prices and transaction confirmation times.
- ETH Gas.watch — This website provides aggregated gas price feed from multiple data sources for the latest prices.
- Etherscan.io — This website is one of the leading blockchain explorers and the analytics platform for Ethereum.
- Blocknative.com — This website’s gas platform harnesses real-time global mempool data infrastructure to precisely and consistently estimate Ethereum transaction fees.
Furthermore, Vitalik Buterin, co-founder of ETH, proposed a cross-rollup by wrapping NFTs and shifting them entirely onto Layer two to overcome the continuous increase in traffic and gas fees. In addition, Infura had announced the public release of its Ethereum transaction relaying service called Infura Transactions (ITX), which would allow the blockchain to combat the rising transaction fees.