Ethereum FAQs

Frequently Asked Questions

Why have you built your platform on Ethereum blockchain?

The reasons why we leveraged the Ethereum blockchain include the following:

  • All of the code of the DAOZedXe system is uploaded to the Ethereum network. This means that the code cannot be altered or deleted in that network, thereby safeguarding your account and the DAOZedXe network against any hack.
  • Your Ethereum wallet cannot be hacked, changed, or deleted.
  • Ethereum smart contract eliminates human involvement in our system. The transactions are public and are automatically executed by a smart contract. The funds are directly transferred to your wallet through the smart contract.
  • The DAOZedXe platform is driven by the Ethereum blockchain and smart contract. Even if the DAOZedXe website stops existing or if the Admin functions come to a halt, the system will continue to work and hence your account and payments.
  • Ethereum smart contract enables direct, peer-to-peer transfer of funds between the parties.

What is Gas, Gas Price (Gwei), and Gas Limit?

  • Gas
    It is the unit used to calculate and pay the commission for given transactions.
  • Gas Price
    It is the price paid by the miners for the calculations. The higher the amount, the faster are the transactions. You can stay up-to-date about the current Gas Price here https://etherscan.io/gastracker
  • Gas Limit
    It is the maximum amount of Gas that anyone can pay during a transaction.

Why is my transaction pending?

Most likely, your transaction is pending due to the low price of Gas (Gwei). You can stay up-to-date about the current Gas Price here https://etherscan.io/gastracker

Why is my transaction rejected?

This is more likely to happen when the value of the Gas Limit is small. The recommended Gas limit is 400,000.