Pending transactions Ethereum

If you have ever used an Ethereum network, you have probably encountered that your transactions take a long time to execute. Pending transaction happens because each miner prioritizes transactions based on their price. In this case, pending transactions are created in Ethereum.

If you set a low gas cost for your transaction, it will probably not completes any time soon. Of course, there must be a way to create a new transaction with a higher gas price so that it is done and the previous existence is no longer done. But how can this be done?

Introduction to pending transactions

If a transaction is approved, it can not be returned or modified in any way. But some transactions may stay on the network forever and never be processed. Stuck is likely happens when the gas price set for a transaction is low.

Consider that you have no way to cancel the transaction. But there are other ways you can speed up the transaction. You need to create a new transaction with a higher gas price to replace the previous one.

Requirements for accelerating transactions

  1. To do this, you first need a Metamask wallet or TrustWalet.

2. Private keys to enter the Ethereum wallet

3. Internet access

Why is my Ethereum transaction stuck?

Ethereum Blockchain prioritizes each transaction based on several factors so that miners can select the best available transaction. The lower the gas price of a transaction, the slower it will be. But there are three main options for prioritizing transactions: gas price, gas cost, and gas limit.

The gas cost measures the cost of the transaction calculation process. The price of each gas unit considers with the gas price. If we consider gas cost as the amount of work done, gas price is the cost paid for each hour of work. The gas limit here is the amount of gas you want to pay for a transaction.

Of course, the gas cost depends on the difficulty of your transaction and its weight. But you can set the gas price and gas limit yourself. The more you set gas prices, the more miners are interested in confirming and processing your transaction. If you set the gas price to a low number, your transaction may never take place. In this case, the transaction is suspended, and you have to create another transaction to do so.

How to speed up a transaction on MetaMask

 

  1. First, enter your Metamask wallet so that if you have pending transactions, you can perform operations on it.

2. In the activity tab, look for pending transactions and then select the speed up option.
3. This option allows you to once again send your transaction with different variables and more gas prices. In this case, click on the fast option and then select save.
4. If this method does not work for you, you can go to the advanced section and manually change the gas price and gas limit values.

How to replace a transaction on MetaMask

  1. To change a transaction in Metamask, first, log in to your Metamask wallet.

2. Find the activity section and then scroll down to find the nonce.

3. If you have several pending transactions in this section, you must activate the oldest with the lowest amount of nonce.

4. Go back to the Metamask settings section and the advanced option.

5. Scroll down and activate the Customize transaction nonce button.

6. Then go back to the main page and copy the address of your wallet.

7. In this case, with the send option, you can create a new transaction and put the address of your copied wallet in the add Recipient section.

8. Now you have to send 0 Ethereums with the nonce that you had from the pending transaction. You must click OK to process.

9. If you still lower the gas price, this transaction will also stop and remain in the queue.

10. Wait for the new transaction to be approved and move with the pending transaction.

11. If this is done correctly, go to the settings section again and set the Customize transaction nonce option to the previous state.

How to cancel a transaction with Trust Wallet

  1. To cancel a TrustWallet transaction, open it and select the pending transaction option. Look for nonce here.

2. Create a new transaction and enter your wallet address in the recipient address field. Here the address must be the same as the pending transaction. Set the sending Ethereum to 0 in this case.

3. Now select the settings option from the top section.

4. Replace the Nonce amount with the number you wrote down earlier. In this case, set the gas price to a higher level to confirm your transaction.

5. Wait for the new transaction to be confirmed, so the pending one gets replaced.

Conclusion

Ethereum Blockchain uses a bidding system to verify transactions. Millions of users trade on the blockchain simultaneously, so there should be an advantage for every miner to know which transaction to choose sooner. It is better to increase the gas price and gas limit to have a better chance for faster transaction processing. If you have any questions, you can ask in the comments section.

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