Ethereum charges a commission of $ 430,000 for a failed transaction

Fibo Quantum

A user of the decentralized system Ethereum has paid a commission of $ 430,000 in cryptocurrency for nothing, then your transaction turned out to be a failure.

Subject was participating in the sale of tokens Strips on the platform MISO, but the auction was very competitive and ended in just six seconds, informs The Block.

During the event, the user used Flashbots, a protocol that allows Ethereum miners to be bribed to prioritize their transaction in a queue of data blocks awaiting confirmation.

However, this algorithm had a bug. Instead of remaining private as transactions are usually done in Flashbots, the affected user was seen in a mempool public, the database where all transactions await confirmation. A miner processed it and included it on the blockchain.

Since the auction was already sold out, the transaction failed leaving the user without the desired tokens, but the commission with which remunerates the work of the miner ―And that depends on the Ethereum system of the demand― he equaled 123 etheres (ETH), the $430,000.

If the transaction had been processed normally through Flashbots, it would not have been completed in the absence of tokens to obtain.

The same user undertook a second transaction to buy Strips, also through Flashbots. Perhaps, seeing the value of the commission for the first one, the user tried to cancel it. To communicate the cancellation to the network, he had to make a new transaction, which ended up costing him 30 ETH (about $ 105,000).

The incident occurred a few weeks after a record commission in the Etehreum system, about $ 27.3 million, for a transaction valued at $ 100,000. However, in this case the money was returned by the miner.

Ethereum is undergoing an update aimed at stabilizing commissions, the value of which depends on the transaction pressure about the system. Recently driven by projects like non-fungible tokens (NFT, for its acronym in English) and decentralized finance (DeFi) using the Ethereum protocol, these charges have periodically experienced unexpected exorbitant jumps.

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