Infura, a ConsenSys service that provides a toolkit for blockchain developers, today announced the public release of its Ethereum transaction relay service. Infura Exchange (ITX). ITX makes it easier for developers to send transactions, such as processing stuck transactions, managing random numbers, and gradually adding prompts to attract block producers to prioritize their transactions.
Although EIP-1559 helps DApp developers avoid paying excessive gas fees for their transactions most of the time, ITX helps prevent excessive payments when the Ethereum network is highly congested.
If the network becomes crowded due to pending transactions, the DApp may need to republish transactions at a higher fee or manage its own transaction queue to ensure that high-priority transactions are mined first and will not conflict with other transactions. These considerations increase the burden on DApp developers and increase the cost and uncertainty for end users.
Tai Oh, the founder and CEO of Gluwa, recently announced the integration of Gluwa with ITX. “Infura transactions will help Gluwa wallet users achieve a better user experience, and it is expected that the average fees paid by users for ETH transactions will be reduced by 10-15% after the integration.”
ConsenSys and Infura are stepping up their efforts to provide developers on Ethereum with the simplest and most accessible tools. Infura’s industry-first dynamic natural gas price increase algorithm and real-time fee adjustments ensure that transactions are processed quickly at the most favorable price.
With ITX, developers can now:
- Pay the best gas price when the Ethereum network is congested
Infura’s dynamic gas price upgrade algorithm and real-time fee adjustment of transaction tips ensure fast processing at the best price.
- Avoid discarded transactions
Ensure that your transactions are always received by the network, because ITX will republish your transactions regularly at a competitive gas price.
- Rely on transaction queue managed by ITX
Save the trouble of manually managing transactions. ITX arranges all transaction queues in descending order with the highest fees.
- Trade on Ethereum without holding ETH
The flexible payment schedule allows businesses to conduct transactions on the Ethereum network without having to hold ETH on their balance sheet.
Importantly, ITX paved the way for developers in large and complex enterprises to build new products and services on the Ethereum mainnet. Currently, due to the tax and regulatory requirements for holding encrypted assets, many companies may be hesitant to establish a blockchain.
With ITX, corporate developers can use prepaid accounts to trade without having to hold ETH on the balance sheet, and without having Infura manage their transactions.
“Sending transactions on Ethereum can be a huge obstacle to high-quality user experience. In addition, for many companies, direct interaction with ETH tokens may not be possible. ITX not only solves these problems, but also helps reduce Transaction costs, while completely eliminating the need to actively manage transactions after you send them. ITX further consolidates Infura’s position as a leading web3 developer tool provider, and addresses the needs of web3 local developers and companies that want to develop their businesses. “
= Michael Godsey, General Manager and Product Owner of Infura