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by CryptoKnight
May 18, 2023

How to speed up or cancel a pending transaction on PulseChain Mainnet

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Are you familiar with MetaMask Activity?

It’s a recently developed tool designed to examine your transactions and provide helpful suggestions for resolving any issues. Additionally, it includes a specialized feature specifically designed for handling pending transactions. It might be worth giving it a try. For additional details, check out this link.

When you submit a transaction on PulseChain network, a portion of the gas fees you pay serves as a bid to prioritize the processing of your transaction. This portion is referred to as the priority fee. While MetaMask calculates an estimated total gas fee to increase the chances of your transaction being picked up promptly, using a low gas price can result in significant delays. To determine gas prices that will ensure timely transaction finalization, you can consult resources Gas Now on PulseChain gas tracker or a similar tool for your specific network.

there are instances where transactions become stuck or remain pending for an extended period due to unforeseen circumstances. Regardless of how you arrived at this situation, there are several approaches to address it.
Before taking any further steps, the initial course of action should be to completely close and reopen your browser or, in the case of mobile usage, close and reopen the MetaMask app. If the issue persists, you can proceed with the following methods to expedite the transaction:

Speeding up a transaction

  1. Wait until the network is willing to process transactions at this price
  2. Speed Up: If you haven’t already, you can click on the “Speed Up” button. This will enable you to resubmit the same transaction with a higher gas fee, increasing the likelihood of faster processing. Since this process reuses the original nonce, you won’t need to pay for gas twice.
Keep in mind that speeding up the transaction will result in higher transaction costs as you’ll be paying more for the increased gas fee.

Cancelling a transaction - In-Metamask cancellation

If you haven’t already done so, you can cancel the transaction by selecting the “Cancel” option, as shown in the screenshot provided. It’s important to keep in mind that cancellations are only possible for transactions that are still pending on the network. Once a transaction has been confirmed, it cannot be reversed.

Cancelling a transaction - Set a Custom nonce

To initiate this process, you need to send a new transaction with the same nonce, which is a unique identifier assigned to each transaction (derived from the phrase ‘number only used once’). It’s important to note that the value of the transaction is not significant; for example, you can send 0 PLS. The crucial factor is ensuring that you provide enough gas to the network to prioritize the transaction.

When utilizing this approach, you must proceed in reverse order, starting from the oldest pending transaction in the queue that you wish to cancel. For instance, you cannot attempt to cancel a transaction with a nonce of 10 without first canceling nonce 9.

When you perform these steps yourself, MetaMask will automatically update in real time to reflect the current market rates.

Instructions:

In advanced settings, turn on Customize transaction nonce. You’ll need this turned on to enable you to send a replacement transaction (using the same nonce).

Send a new transaction. In the new transaction, send TO yourself, meaning your MetaMask public address. Fill in ‘Custom Nonce’ with the same nonce as the transaction that is still pending:

Next to the displayed gas fee on the transaction confirmation screen, you’ll see a button that reads ‘Market’ (it can also read ‘Low’ or ‘Aggressive’ depending on your last used setting). 

Click it, and then click ‘Advanced’ at the bottom:

To make sure your cancellation request is picked up as a priority, and before the original, you will need to pay more for gas. On this screen, follow these instructions:

Set your gas limit comparable to or slightly higher than your original transaction.

Set your priority fee to at least 10% higher (in Beat) than the gas fee of the original (pending) transaction (e.g. if that transaction had a gas fee of 30 Beat, set the max priority fee in the replacement/cancellation transaction to 33-35 Beat).

Make sure your max fee is at least 30% higher than the max fee of the transaction you’re replacing. For example, if your previous fee was 150 Beat, choose something nearer 200 Beat this time.

*** Cryptocurrencies and NFTs are volatile and those who invest in them should be prepared to lose all their money. NOTHING www.howtopulse.com states, shares, expresses, or allude to should be considered professional advice or recommendations of action. This blog is intended for educational and entertainment purposes only. Consult a professional (or two…or more) for any tax, accounting or legal related questions you may have. Howtopulse did not receive any payments to write this blog or any other post on this site***

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