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How to Analyze Ethereum Gas usage and other fees on Blockchain

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Session 9.1 - Finalizing a Product with IOTA Drip-Drop Code

with h3xadecimal|4 years experience

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How to Analyze Ethereum Gas usage and other fees on Blockchain

  • English
  • Cryptocurrency
  • EthereumEthereum
  • (1854)
  • Project length: 4h 33m

During this project, we'll have a look at the mechanics of gas on the Ethereum blockchain, different ways to analyze and consume the information in order to make educated decisions about spending gas. We'll also look at fees on other blockchains, why they're important and how they may be either prohibitive or enabling.

Overview

What are the requirements?:

This section will cover the requirements of the programming language, skills viewers should have to understand and follow this tutorial.

  • Familiarity with Blockchain

  • Familiarity with Ether, Eth tokens and Ethereum, specifically

  • And the most important is: don’t panic!

What is the target audience?:

  • You want to make use of Eth and want to know how Gas works

  • You have any interest in the usage aspect of crypto

When are the streaming sessions (streaming schedule)?

  • 6 pm Eastern 10/08/2018

Project Outline

Project Overview:

Session 1: Eth gas explained

  • What is Eth gas? How is it defined?

  • How to set gas limit and gas price on MEW, MetaMask, EtherDelta, other Blockchain interfaces (Ethfinex, Ethlend...)

Session 2: Eth's fees in gas around the blockchain

  • Looking through old Etherscan tx, we can see the importance of Eth and blockchain in reducing fees globally

Session 3: Eth Gas Station

  • Landing page: what info is here?

  • Tx calculator - how to use? - TxPool Vision - what does it tell us? - Gas burners - wow look at those whales!

Session 4: Bitcoin Fees

  • Why did bitcoin fees become prohibitively high? Why are they now decreasing? What solutions exist to offset high Bitcoin tx fees (SegWit, Batching, Ditching Bitcoin...)?

Session 5: Different Gas Requirements for Publishing Smart Contracts

  • Using our trusty Truffle.js framework + MetaMask + MyEtherWallet, we'll look at how much gas various smart contracts take to publish (on the Rinkeby testnet)

Session 6: 0 tx-fee Blockchains: EOS, GAS, etc...

  • How can a Blockchain work without fees?

Session 7: Drip-drop Payments on Feeless Blockchains

  • Potential use-cases: drip-drop financial rewards and wages -- create a drip-drop payment system on IOTA Testnet, trying to do some basic IOTA JS stuff

Session 8: More IOTA Drip-Drop Code!

  • Now our SSL error is broken, running the first bit of code. Figuring out how to read the 'message' value from incoming feeless TX

Session 9: Finalizing a Product with IOTA Drip-Drop Code!

  • Adding a modest fee, a basic web interface & pushing our code to Heroku & GitHub

https://github.com/DunnCreativeSS/LiveEduDripDropIotaHourlyPayments

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