Noticed the relatively lower gas fees recently? It may be attributed to a somewhat unexpected scalin...

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Noticed the relatively lower gas fees recently? It may be attributed to a somewhat unexpected scaling mechanism

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Lower gas prices may be attributed to flashbots outcompeting PGA (priority gas auction) bots leading to somewhat of a scaling effect for Ethereum. A thread explaining flashbots: https://twitter.com/bertcmiller/status/1381296075802353666?s=21

This could be causing PGA bots to be turned off. Normally PGA bots would be looking for arb opportunities on transactions and creating a gas war. With flashbots outcompeting these opportunities, it is resulting in less bots creating gas wars and better gas prices for the average ethereum user.

Interestingly, flashbots may also be paying miners more than PGA bots would have creating a nice win-win scenario.

More info: https://twitter.com/thegostep/status/1381241040351412224?s=21

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Posted: 3 years ago
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