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Infura's new feature optimizes Ethereum gas payments, allowing enterprises to trade without holding ETH!

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Infura

After the London upgrade, Ethereum, EIP-1599 has significantly changed the Gas fee mechanism, aiming to achieve greater stability and predictability in Gas fees. However, due to the recent surge in transactions on the NFT market and token exchange platforms, the issue of high Gas fees on Ethereum has not been effectively resolved. In order to assist Ethereum users in this predicament, Ethereum infrastructure development company Infura has launched a new service.

What is Infura?

Infura is a service platform that provides tools for blockchain developers, supporting fast and reliable access to the Ethereum and IPFS networks, allowing developers to focus more on developing DApps. Yesterday, Infura announced the launch of a new tool on its Twitter: Infura Transactions ITX, aiming to assist developers when high Gas fees due to transaction congestion occur on the Ethereum network.

What Infura Transactions ITX Can Offer

According to Infura Transactions' Twitter, it provides the following four types of assistance to developers.

  1. Avoid Missing Transactions: ITX ensures your transactions are always accepted by the network as it periodically resubmits your transactions with competitive gas prices.
  2. Automatically Order Transaction Sequence: ITX transaction management system eliminates the hassle of manually managing transactions. ITX queues all transactions in descending order based on fees.
  3. Pay the Best Gas Price When Ethereum Network is Congested: Through Infura's dynamic gas pricing algorithm and real-time adjustment of miner fees, it ensures quick transaction processing at the most favorable price.
  4. Trade on Ethereum without Holding ETH: Flexible payment schedules allow businesses to transact on the Ethereum network without holding ETH on their balance sheet.

Many well-known DeFi protocols are already using Infura's services, and with the launch of Infura Transactions, it may effectively address the issue of poor transaction efficiency on Ethereum. According to Decrypt, Ben DiFrancesco, CEO of the crypto consultancy group ScopeLift, praised the new feature, stating:

We made a few ITX API calls, and it did all the hard work for us. We can now spend more time on things that are more important to our users.