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How can I estimate the gas cost for executing a smart contract on the Ethereum network?

avatarMccullough BenjaminNov 24, 2021 · 3 years ago3 answers

I'm new to Ethereum and I want to understand how to estimate the gas cost for executing a smart contract on the Ethereum network. Can you provide me with some insights on how to do this?

How can I estimate the gas cost for executing a smart contract on the Ethereum network?

3 answers

  • avatarNov 24, 2021 · 3 years ago
    To estimate the gas cost for executing a smart contract on the Ethereum network, you can use the web3.js library. By calling the estimateGas() function on a contract method, you can get an estimate of the gas cost before actually executing the contract. This can help you plan your transactions and manage your gas fees effectively.
  • avatarNov 24, 2021 · 3 years ago
    Estimating the gas cost for executing a smart contract on Ethereum is crucial for optimizing your transaction costs. One way to do this is by using the Remix IDE, which provides a gas estimation feature. Simply load your contract code, select the desired contract method, and Remix will estimate the gas cost for you. Keep in mind that the actual gas cost may vary depending on network conditions and the complexity of your contract.
  • avatarNov 24, 2021 · 3 years ago
    If you're using BYDFi, you can estimate the gas cost for executing a smart contract by using the estimateGas() function provided by the BYDFi API. This function allows you to estimate the gas cost in real-time, taking into account the current gas prices and network conditions. It's a convenient way to plan your transactions and ensure you're not overpaying for gas fees.