I am developing a smart contract in truffle. I’m having some trouble understanding how GAS works in Ethereum. I used the following parameters in my Rinkeby test net:
gas limit: 4600000 gas price: 10000000000 (10Gwei)
This means that the Gas limit is set at: 4600000 * 10000000000 ~ 0.046 ETH ~ 17 $
On the other side, I have 0.0303 ETH (~11$) on the mainnet and according to this site ETH Gas Station I put 100Gwei as gas price and then I set 30000 as gas limit (because 100Gwei * 30000 is about 10$).
I’ve got this error during deploy in dry run:
My question is: what values I need to use to deploy and use a contract? Who decides these values? Gas price seems to change very fast. Do I need to constantly update these values? Do I need to have more money in my wallet to deploy a contract ? How can I estimate all costs?
Ten-tools.com may not be responsible for the answers or solutions given to any question asked by the users. All Answers or responses are user generated answers and we do not have proof of its validity or correctness. Please vote for the answer that helped you in order to help others find out which is the most helpful answer. Questions labeled as solved may be solved or may not be solved depending on the type of question and the date posted for some posts may be scheduled to be deleted periodically. Do not hesitate to share your response here to help other visitors like you. Thank you, Ten-tools.