Managing Transactions on EVM blockchains
A quick overview of some key concept related to transaction management and ordering on EVM blockchains (It works exactly the same way for the other chains).
Transactions on the EVM blockchains are validated thanks to a consensus of miners or validators (depending on the blockchain). They can clear very fast, take a long time, or even fail. This page helps you understand why that happens.
On the EVM blockchains, everything starts by submitting a transaction - which can then succeed, fail or be replaced:
Gas cost Incurred & satuts
Expected cost (not paid yet)
Actual Gas Cost (lower than expected)
The gas cost is still incurred
Canceled or Replaced
No gas cost incurred
If the gas price of a given transaction is too low to be picked up within a reasonable amount of time, your transaction will most likely fail because of the price changed.
Transaction can fail for various a range of other reasons, such as invalid input parameters
On top of all their other parameters, transactions are submitted with a “nounce”. The nounce represents the order of transaction made by an address -- it increases with each transaction. Several transactions can be submitted on the same as long as no transaction was cleared on that nounce yet. In such a case, once the first transaction succeeds (most likely one with the highest gas price), all others will be “dropped and replaced”.
It means that to replace or cancel a transaction that has not been validated yet, you can submit another one on the same nounce with a higher gas cost than the original.