Source: Cointelegraph Original: "{title}"
Key Points
Ethereum transactions require gas fees, which depend on gas limits and gas prices. Higher fees ensure that validators process transactions faster.
Pending Ethereum transactions can be resolved. You can speed up stuck transactions by increasing the gas fee or cancel them by sending a replacement transaction with the same nonce.
Some wallets allow the use of in-app features to cancel stuck transactions.
Monitoring network congestion and using tools like Etherscan Gas Tracker to set optimal gas fees can lead to smoother transaction management.
Ethereum is a decentralized blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (DApps).
Ethereum is often referred to as the "world computer," as it goes beyond simple cryptocurrency transactions to provide a secure, trustless, and decentralized environment. The native cryptocurrency of the Ethereum network, ETH, is used to pay transaction fees, making it a vital part of the ecosystem.
During the Ethereum transaction process, challenges can sometimes arise, especially when transactions get stuck in a pending state. Understanding how to modify or cancel these transactions is crucial for efficient blockchain interaction.
This article will detail how to handle pending Ethereum transactions, ensuring you can respond calmly to such situations.
Understanding Ethereum Transactions and Gas Fees
Ethereum transactions are validated through a consensus mechanism called Proof of Stake (PoS), where network participants (known as validators) are responsible for confirming transactions and adding them to the blockchain. Validators are selected based on the amount of ETH they stake, ensuring the security and integrity of the network.
Every time you click "send" on Ethereum, you are bidding for the attention of validators. Gas fees are your bidding tool.
This is because every Ethereum transaction requires a fee known as gas, paid to validators for processing and validating the transaction. The total fee is determined by two factors:
Gas Limit: The maximum amount of gas you are willing to spend on the transaction. Think of it as the size of your gas tank—this is the maximum gas you are willing to consume for the journey.
Gas Price: The amount you are willing to pay per unit of gas, usually measured in gwei (1 gwei = 0.000000001 ETH). The higher the price, the faster your transaction will be processed.
Setting a lower gas price may result in transaction delays or getting stuck, as validators prioritize transactions with higher fees. This issue becomes more pronounced during network congestion.
Did you know? The highest gas fee paid on Ethereum was in a transaction in 2021, amounting to $24 million. This fee was reportedly due to an error by a cryptocurrency exchange, highlighting the importance of carefully checking transaction details before confirming. Fortunately, the fee was refunded.
Why Do Transactions Get Stuck?
Stuck transactions are like waiting in a long line on the blockchain—frustrating but fixable. Transactions may remain pending for the following reasons:
Low Gas Fee: If the gas price is set too low, validators may ignore your transaction in favor of processing transactions with higher fees.
Network Congestion: High network activity can lead to delays, especially for transactions with lower gas prices.
Nonce Gaps: Ethereum assigns a unique number, called a nonce, to each transaction from a single address. If a transaction with a lower nonce is pending, subsequent transactions will also be delayed until the pending transaction is processed.
Did you know? The Ethereum blockchain processes transactions in the order of their nonce values. If a low nonce transaction gets stuck, it can delay all subsequent transactions from the same wallet.
Thus, Ethereum transactions can experience different states based on their status in the blockchain network. Here’s an overview of the various transaction states and their meanings:
Pending: The transaction has been broadcast to the network and is waiting for validation. If it remains pending for too long, it usually means the gas fee is too low to compete with other transactions under current network conditions.
Queued: This state occurs when a transaction is delayed due to another pending transaction with a lower nonce in the same queue. Ethereum processes transactions in the order of their nonce values, so any gaps in the sequence will prevent queued transactions from being validated.
Cancelled: Transactions in this state can no longer be validated. This occurs when it is replaced by another transaction with the same nonce but a higher gas fee and invalid value or data fields. Cancelled transactions are effectively removed from processing.
Replaced: Similar to cancelled, this state indicates that the transaction has been modified rather than invalid. Replacement is used to speed up processing or change specific values and data in the original request. To replace a transaction, you must resubmit it using the same nonce and a higher gas fee.
Failed: When a transaction encounters an error, it enters this state. Common reasons include insufficient gas to complete execution, errors in smart contract logic, or invalid instructions. Failed transactions are recorded on the blockchain but do not execute their intended functions.
Understanding these states can help you troubleshoot effectively and manage Ethereum transactions, ensuring smoother interactions with the network.
Steps to Modify or Cancel Pending Ethereum Transactions
When a transaction gets stuck, you have two main options:
Speed Up the Transaction: This involves resubmitting the same transaction but with a higher gas fee to incentivize validators to process it faster.
Cancel the Transaction: This requires sending a new transaction with the same nonce but a higher gas fee, effectively overriding the pending transaction.
It is important to note that once a transaction is confirmed on the Ethereum blockchain, it is final and cannot be sped up, recovered, or canceled.
Method 1: Speeding Up Ethereum Transactions
When Ethereum transactions get stuck in a pending state due to low gas fees or network congestion, you can take steps to speed them up. The key is to increase the gas fee, which incentivizes validators to prioritize your transaction. To speed up a pending or stuck transaction, you need to have enough ETH in your Ethereum account to cover the network fees.
Here’s how to speed up ETH transactions:
- Use a Wallet with Transaction Management Features
Wallets like MetaMask allow users to directly speed up stuck transactions. In MetaMask, you can find the "Speed Up" option on pending transactions. This feature allows you to resubmit the same transaction but with a higher gas fee, increasing the likelihood of it being processed faster by validators.
Steps in MetaMask:
Open MetaMask and navigate to the pending transaction in the "Activity" tab.
Click the "Speed Up" button.
Enter a higher gas fee (you can use tools like Etherscan Gas Tracker to determine the optimal fee).
Confirm the new transaction to broadcast it to the network.
This process essentially replaces the original transaction with one that has the same nonce but a higher gas fee, prompting faster execution.
- Manually Replace the Transaction
If your wallet does not have a "Speed Up" option, you can manually replace the transaction using the same nonce. This involves:
Canceling the stuck transaction by submitting a new transaction with the same nonce and a higher gas fee.
Sending zero-value ETH to your own wallet address or re-executing the original transaction with updated gas settings.
- Choose the Right Gas Fee
To avoid transactions getting stuck, always choose an appropriate gas fee when initiating a transaction. Many wallets, including MetaMask, provide suggested gas fees based on current network activity, but for time-sensitive transactions, you may opt for a higher fee.
Gas Fee Tip: In no rush? Wait for network traffic to cool down (off-peak hours) and save some ETH.
Method 2: Cancel Stuck Ethereum Transactions
You can cancel transactions that have been pending for hours; however, keep in mind that once a transaction is confirmed on the Ethereum blockchain, it is final and cannot be sped up, recovered, or canceled.
Fortunately, there are two main methods to cancel pending Ethereum transactions: using in-app features of wallets like MetaMask or manually setting a custom nonce. Here’s how both methods work:
- Cancel the Transaction In-App
Many wallets, such as MetaMask, offer built-in options to cancel pending transactions. This is the simplest and most user-friendly way to attempt a cancellation.
Steps:
Open your MetaMask wallet and find the pending transaction in the "Activity" section.
Select the "Cancel" option.
Confirm the cancellation by signing a new transaction with a higher gas fee.
This method effectively overrides the original transaction by sending a replacement transaction with the same nonce as the pending transaction but with no value or data.
- Cancel the Transaction Using a Custom Nonce
For advanced users or when the wallet's cancel option is unavailable, you can manually cancel the transaction using a custom nonce.
Steps:
Find the nonce of the stuck transaction: Use a blockchain explorer to search for your wallet address. Locate the stuck transaction and note its nonce value.
Send a replacement transaction:
Open your wallet and enable the "Custom Nonce" feature in the settings.
Create a new transaction sending to your own wallet address, setting the same nonce as the pending transaction.
Set the gas fee higher than the original transaction to ensure priority.
Once submitted, the new transaction will replace the pending transaction. This method leverages Ethereum's rule that transactions must be processed in order. By broadcasting a new transaction with the same nonce and a higher gas fee, you effectively replace the pending transaction.
Important Considerations for Cancelling Transactions
No Guarantees: Attempting to cancel or speed up transactions may not always be successful, especially during periods of high network congestion.
Potential Risks: Incorrectly modifying transactions may lead to additional stuck transactions or unintended consequences. Ensure you thoroughly understand the process before proceeding.
Transaction Finality: Once a transaction is confirmed and included in a block, it cannot be revoked or modified. Always double-check transaction details before sending.
Preventing Future Transactions from Getting Stuck
To minimize the risk of pending transactions:
Set Appropriate Gas Fees: Use tools like Etherscan Gas Tracker to determine the optimal gas price based on current network conditions.
Monitor Network Status: Stay informed about network congestion and adjust your transaction timing and fees accordingly.
Keep Your Knowledge Updated: Regularly update your understanding of Ethereum network operations and best practices to ensure smooth transactions.
By understanding the mechanisms of Ethereum transactions and the tools available, you can effectively manage and resolve pending transactions, ensuring a seamless experience on the blockchain.
Related: Ethereum DEX Trading Volume Drops 34% in a Week, ETH Price Outlook Dim
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
