Infura, an infrastructure platform developed by ConsenSys, has released a developer tool to prevent overpayment of Ethereum transaction fees during network congestion.
Developers of the cloud-based Infura node network, which many projects use to connect to the Ethereum blockchain, have released a new tool, Infura Transactions (ITX). It is designed to reduce transaction fees on the Ethereum network. ITX makes it easier for developers to send transactions, such as handling pending transactions, managing one-time random numbers, and gradually increasing tipping to encourage miners to prioritize transactions.
While EIP-1559 helped developers of decentralized applications (dApps) avoid overpaying gas fees to ensure transactions are verified in most cases, ITX helps prevent overpayment for fees when the Ethereum network is heavily congested.
DApps developers may need to rebroadcast transactions with higher fees if the network is overloaded with pending transactions, or manage their transaction queue to ensure that high-priority transfers are processed on time and do not conflict with other transactions. These actions burden dApps developers and increase costs and uncertainty for end users.
Infura says the industry’s first algorithm for dynamically increasing gas prices and adjusting fees in real time ensures fast transaction processing at an optimal price. ITX automatically raises the gas price and adjusts the tip commissions in real time, avoiding stuck transactions and sending transactions to the network even if the sender does not have ETH on the account.
ITX opens up opportunities for developers within large and complex enterprises to create new products and services on the Ethereum backbone. With ITX, enterprise developers can transact from prepaid accounts without holding ETH on their balances and allowing Infura to manage transactions. Michael Godsey, Product Manager at Infura, said:
“Sending transactions to Ethereum can be a huge barrier to a quality user experience. Moreover, direct interaction with ETH can be inconvenient for many companies. ITX not only addresses these issues, but also helps reduce transaction costs by completely eliminating the need to actively manage a transaction after it has been sent. ”
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