Infura, a ConsenSys Service which provides a suite of tools for blockchain developers, today announced the public launch of its Ethereum transaction relay service, Infura Transactions (ITX). ITX makes it easy for the developer to submit transactions such as handling stuck transactions, managing nonces, and ramping up the tip to entice block producers to prioritize their transactions.
Weather EIP-1559 has helped DApp developers avoid overpaying gas fees so that their transactions are mined most of the time, ITX helps avoid overpaying fees when the Ethereum network is heavily congested.
DApps may need to republish transactions with a higher fee if the network becomes congested with pending transactions or to manage their own transaction queue to ensure that high priority transactions are pulled first and do not collide with your other transactions. These considerations are a burden on DApp developers and increase costs and uncertainty for their end users.
Tae Oh, founder and CEO of Gluwa, recently announced Gluwa’s integration with ITX. “Infura Transactions will help Gluwa Wallet users achieve an improved user experience, and users are expected to pay 10-15% less on average for ETH transactions after integration.”
ConsenSys and Infura are accelerating efforts to provide the easiest and most accessible tools for developers on Ethereum. Infura’s industry-first dynamic gas price scaling algorithm and real-time rate adjustments ensure transactions are processed quickly and at the best price.
Using ITX, developers can now:
- Pay the best price for gas when the Ethereum network is congested
Infura’s dynamic gas price scaling algorithm and real-time rate adjustments for the tip of a transaction ensure that it is processed quickly and at the best price.
- Avoid dropped transactions
Make sure your transactions are always picked up by the network, as ITX will periodically republish your transactions with competitive gas prices.
- Trust ITX-managed transaction queues
Save yourself the hassle of manually managing your transactions. ITX organizes all transaction queues in descending order with highest rate first.
- Trade on Ethereum without having ETH
Flexible payment programs allow companies to transact on the Ethereum network without having ETH on their balance.
Importantly, ITX paves the way for developers from large and complex companies to create new products and services on the Ethereum mainnet. Currently, many companies may be hesitant to build on the blockchain due to tax and regulatory requirements to hold crypto assets.
With ITX, business developers can transact with prepaid accounts without having ETH on their balances and without allowing Infura to manage their transactions.
“Sending transactions on Ethereum can be a huge barrier to a high-quality user experience. Also, direct interaction with the ETH token can be a stumbling block for many businesses. ITX not only solves these problems, it also helps reduce the cost of transactions, while at the same time completely eliminating the need to actively manage your transaction after it has been submitted. ITX further solidifies Infura’s position as the leading provider of web3 development tools, addressing the needs of both native web3 developers and companies looking to evolve their business. “
= Michael Godsey, General Manager and Product Manager, Infura