Estimating Solana Gas Price Using getFees RPC Method in Python with QuickNode

Understanding gas prices on Solana is essential for managing transaction costs efficiently. Gas prices dictate the fees users pay for transactions on the blockchain. In this guide, we'll explore how to estimate Solana gas prices using the getFees RPC method provided by QuickNode, and convert this estimate into Sol (SOL), Solana's native currency.

What is gas in Solana?

Gas in Solana refers to the computational effort required to process and execute operations on the Solana blockchain. Each operation or transaction on Solana consumes a certain amount of computational resources, such as processing power and memory. Gas acts as a measure of these computational costs.

Why Estimate Gas?

Why do we need to estimate gas? Currently, miners decide which transactions to include in blocks. Their decision often hinges on the amount of gas each transaction offers. Why prioritize transactions with higher gas? Because miners earn the gas fees attached to transactions they process. Transactions with insufficient gas, below the average rate, may face delays or even rejection by miners.

Paying higher gas ensures our transaction's inclusion, while inadequate payment risks rejection. Estimating the right amount of gas to incentivize miners is crucial, highlighting the importance of gas estimation.

Here are key reasons why estimating gas is important:

• Cost Prediction: Gas estimation allows users to predict the cost of executing transactions before confirming them, helping to budget expenses and avoid unexpected fees.

• Optimization: By understanding gas costs, developers can optimize their smart contracts and applications to reduce inefficiencies and minimize transaction fees.

• Transaction Priority: Gas estimation helps prioritize transactions by allowing users to set appropriate fees, ensuring faster confirmation times during network congestion.

Prerequisites

Before starting, ensure you have the following:

• Basic knowledge of Python programming.

• Access to a QuickNode account with a Solana endpoint.

• Python 3.x installed on your machine.

• An active Solana wallet address for testing.

Set Up Your QuickNode Solana Endpoint

If you don't already have a QuickNode account, sign up at QuickNode. After creating your account, follow the steps to create a new Solana endpoint.

1. Access the Dashboard: After logging in, you’ll be directed to the QuickNode dashboard.

2. Create an Endpoint:

   • Click on the "Create Endpoint" button.

     

   • Select "Solana" from the list of supported blockchains.

   • 

   • Choose your desired plan (QuickNode offers various plans, including a free tier for testing and development).

     

   • Name your endpoint and configure any additional settings as needed.

3. Deploy the Endpoint: Once you’ve configured your endpoint, click "Create Endpoint." QuickNode will take a few moments to deploy your Solana RPC endpoint.

   

4. Copy Endpoint URL: After deployment, you’ll be provided with an endpoint URL. Copy this URL as you’ll need it to connect to the Solana network.

Setting Up the Project

1. Clone the Repository:

    git clone https://github.com/Dev-suite/solana-gas-price-estimator
    cd solana-gas-price-estimator
   

2. Install Dependencies:

    pip install -r requirements.txt
   

3. Update Configuration: Modify config.py with your QuickNode HTTP provider URL.

Fetching Gas Price

To estimate the gas price using the getFees RPC method, we'll fetch fee-related information directly from the Solana network.

Example Code

# utils/quicknode.py

import requests
import json

def get_fee_estimate(quicknode_url):
    headers = {
        "Content-Type": "application/json"
    }

    payload = json.dumps({
        "jsonrpc": "2.0",
        "id": 1,
        "method": "getFees",
        "params": []
    })

    response = requests.post(quicknode_url, headers=headers, data=payload)
    if response.status_code == 200:
        result = response.json().get('result', {})
        if result:
            fee_estimate = result.get('value', {}).get('feeCalculator', {}).get('lamportsPerSignature', 0)
            return fee_estimate
        else:
            print("No fee information found")
            return 0
    else:
        print("Failed to fetch fee information")
        return 0

Explanation of the code above:

1. Imports: The code begins by importing the necessary Python libraries requests and json.

2. Function Definition: Defines a function get_fee_estimate that accepts quicknode_url as an argument, which is expected to be the URL endpoint for the QuickNode service.

3. HTTP Headers: Sets up HTTP headers with "Content-Type": "application/json" for the POST request.

4. JSON Payload: Constructs a JSON payload (payload) containing the JSON-RPC request structure (jsonrpc, id, method, params) to fetch fee information using the getFees method.

5. HTTP POST Request: Sends a POST request to quicknode_url with the specified headers (headers) and payload (data=payload).

6. Response Handling: Checks the HTTP response status code (response.status_code). If the response is successful (200), it parses the JSON response (response.json()) and extracts the result object.

7. Result Processing: If result exists, it retrieves the lamportsPerSignature value from the nested structure (result['value']['feeCalculator']['lamportsPerSignature']). If result is empty, it prints "No fee information found" and returns 0.

8. Error Handling: If the HTTP request fails (status code is not 200), it prints "Failed to fetch fee information" and returns 0.

9. Return Value: The function returns either the extracted fee_estimate (if available) or 0 in case of errors or missing information.

This function effectively fetches and parses fee information from a Solana blockchain node via a QuickNode endpoint, providing developers with an estimated gas price (in lamports per signature) for executing transactions on the Solana network.

Converting Gas Price to SOL

Solana gas prices are typically denoted in lamports (where 1 SOL = 1,000,000,000 lamports). Convert the fetched gas price to SOL for clarity and user convenience.

Example Code

# main.py

from utils.quicknode import get_fee_estimate
import config

def main():
    fee_estimate_lamports = get_fee_estimate(config.QUICKNODE_URL)
    fee_estimate_sol = fee_estimate_lamports / 1_000_000_000  # Convert lamports to SOL
    print("Estimated Gas Price (in lamports per signature):", fee_estimate_lamports)
    print(f"Estimated Gas Price (in SOL per signature): {fee_estimate_sol:.8f}")

if __name__ == "__main__":
    main()

Explanation of the code above:

• Imports:

  • from utils.quicknode import get_fee_estimate: Imports the get_fee_estimate function from the utils.quicknode module, allowing the script to use this function to fetch the gas fee estimate.

  • import config: Imports the config module, which typically contains configuration settings such as QUICKNODE_URL.

• Function Definition:

  • def main(): Defines the main function, which serves as the entry point of the script.

• Calling get_fee_estimate:

  • fee_estimate_lamports = get_fee_estimate(config.QUICKNODE_URL): Calls the get_fee_estimate function with config.QUICKNODE_URL as an argument. This URL is expected to be the endpoint for the QuickNode service where the RPC request for fee estimation will be sent.

• Conversion to SOL:

  • fee_estimate_sol = fee_estimate_lamports / 1_000_000_000: Converts the fetched fee estimate from lamports (where 1 SOL = 1,000,000,000 lamports) to SOL, Solana's native currency.

• Output:

  • print("Estimated Gas Price (in lamports per signature):", fee_estimate_lamports): Prints the estimated gas price in lamports per signature retrieved from get_fee_estimate.

  • print(f"Estimated Gas Price (in SOL per signature): {fee_estimate_sol:.8f}"): Prints the estimated gas price in SOL per signature with 8 decimal places for precision.

• Conditional Execution:

  • if __name__ == "__main__":: Checks if the script is being executed directly (not imported as a module).

  • main(): Calls the main function, initiating the process of fetching and displaying the estimated gas prices.

If the code gets executed successfully, it should look something like this.

Conclusion

Estimating Solana gas prices using the getFees RPC method is straightforward and provides accurate fee estimates directly from the Solana network. By converting the fee estimate from lamports to SOL, developers can better understand transaction costs and optimize their applications for efficiency.

This guide offers a foundational approach for integrating gas price estimation into Solana applications using QuickNode's powerful RPC capabilities, enhancing transaction management and user experience on the Solana blockchain.

Additional Resources

• QuickNode website: quicknode.com

• QuickNode blog: blog.quicknode.com

• QuickNode Solana Documentation: QuickNode Solana RPC Overview | QuickNode?ref=devsuite

• QuickNode Discord Community: discord.com/invite/quicknode

• QuickNode Documentation: docs.quicknode.com

• QuickNode Video Tutorial Guide: youtube.com/@QuickNode

• QuickNode Tutorial Guide: quicknode.com/guides/

• QuickNode Twitter Page: twitter.com/quicknode?lang=en

About QuickNode

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