Introducing Gas Price Notifications by Alchemy
Gas price notifications is a new tool that developers can use to alert their users when gas price is optimal for sending transactions.
Over the past 9 months, Ethereum gas prices have skyrocketed, going from an average of 10 Gwei per transaction in January 2020 to over 110 Gwei in September. That’s over ten times the price, with occasional spikes bringing the gas price for a single transaction to $99 or hundreds of dollars in the case of complex smart contracts!
On top of that, gas price volatility has also been dramatic — gas prices can triple over the course of any given day, caused by fluctuations in real-time traffic.
Gas Price Notifications
High fees are the direct result of heavy network congestion. Alchemy Gas Price Notifications provides intelligent real-time alerting capabilities for developers to enable their users to time transactions when network congestion and gas prices are lowest.
Alchemy Gas Price Notifications is one of the first API for developers to bring money saving gas insights directly to their apps.
Notify users when the gas price is low -> they save money -> they choose your product in the future vs competitors.
3 Minutes To Integrate
Gas Price Notifications is part of Alchemy Notify and only takes 3 minutes to integrate into your app. How does it work? Simple:
- Sign up for Alchemy.
- Create a Gas Price Webhook with gas price thresholds you’d like to be notified at.
- Alchemy sends you notifications when the gas price passes your thresholds.
What can this be used for?
- Exchanges can alert their customers whenever gas is optimal to make trades.
- Users may store transactions in a waiting pool to execute them when gas prices fall below a certain level.
- Automate the purchase of Gas Tokens. These tokens hedge against future fees by allowing you to purchase gas when prices are low, to use when gas prices are high.
Ethereum developers are hard at work bringing scalability to mainnet, but until then save your users money with Gas Price Notifications and they will love you forever.
We’re here to help — reach out if you have any questions!
Alchemy provides the leading blockchain development platform powering $7.5 billion in transactions for millions of users in 99% of countries worldwide. The majority of top blockchain apps rely on Alchemy to power their products including Maker, 0x, MyEtherWallet, Dharma, and Kyber.
Alchemy is backed by Stanford University, Coinbase, the Chairman of Google, Charles Schwab, top global founders and executives and has been featured in TechCrunch, Wired, Bloomberg and numerous other media outlets.
Originally published at https://blog.alchemyapi.io