How to Fix “Returned Error: replacement transaction underpriced” when Sending the ETH on Ethereum Blockchain?

ETH Sending Error: Replacement Transaction UnderPriced

The error “Returned error: replacement transaction underpriced” typically occurs in the context of Ethereum Blockchain transactions, especially when you’re trying to replace or overwrite a transaction that’s already pending in the Ethereum network (mempool). This error message is common in scenarios where users are attempting to speed up a transaction, usually because the original transaction is taking too long due to low gas fees. Here’s what’s happening behind the scenes:

Gas Price and Transaction Ordering: When you send a transaction on the Ethereum network, you have to specify a gas price, which is the amount of Ether you’re willing to pay for each unit of gas. Miners typically prioritize transactions with higher gas prices because they get paid these fees. If your transaction has a low gas price, it might be delayed, and you might want to speed it up.

Nonce Value: Each Ethereum transaction has a unique sequential number called a “nonce.” This nonce ensures transactions are processed in order and prevents double-spending. When you send a new transaction with the same nonce as a pending one, you’re essentially saying, “Cancel my old transaction and process this new one instead.” However, for the new transaction to be considered valid, it must meet certain conditions.

Replacement Transaction Conditions

Replacement Transaction Conditions: For the Ethereum network to accept the new transaction as a replacement:

• The nonce must be the same as the pending transaction you’re trying to replace.
• The gas price must be at least 10% higher than the gas price of the transaction you’re trying to replace. This is a requirement of the Ethereum protocol, incentivizing miners to prioritize the new transaction.

The error “replacement transaction underpriced” happens when the new transaction you’re sending doesn’t meet these conditions — specifically, the condition regarding the gas price. This usually means that the gas price of your new transaction is too low; it’s not the required 10% higher than the gas price of the pending transaction you’re trying to replace.

How to Fix “Returned Error: replacement transaction underpriced”?

To resolve this error, you’ll need to send another replacement transaction with a higher gas price. Make sure to increase the gas price by at least 10% compared to the initial transaction. This increase should be sufficient to incentivize miners to process your new transaction in place of the old one. Also, double-check the nonce to ensure it matches the transaction you’re trying to overwrite. If you’re using a wallet or third-party service to send transactions, there might be an option like “speed up this transaction” or similar, which automates this process for you. Keep in mind that network congestion and ETH price volatility can influence the right gas price to use, so staying informed about network conditions can be helpful as well.

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