Guide to Using eth_sendRawTransaction on BNB Chain

Introduction

The eth_sendRawTransaction method is a powerful tool for executing transactions on the BNB Chain. This guide walks you through the process step-by-step, ensuring you understand how to send transactions securely and efficiently.

Prerequisites

Before proceeding, ensure you have:

• A Chainstack RPC node (replace YOUR_CHAINSTACK_RPC_NODE with your endpoint).
• A private key for the sender’s account (keep this secure).
• The recipient’s address and the amount to send.

Step-by-Step Code Implementation

Below is a JavaScript example using the web3.js library to send a transaction via eth_sendRawTransaction:

const { Web3 } = require("web3");

// Initialize Web3 instance using a provider
const web3 = new Web3(
 new Web3.providers.HttpProvider("YOUR_CHAINSTACK_RPC_NODE")
);

/**
 * Sends a specified amount from a given account to another.
 *
 * @param {string} secretKey The private key of the sender's account.
 * @param {string} to The recipient address.
 * @param {string} amount The amount to send in Ether.
 */
async function sendAmount(secretKey, to, amount) {
 const account = web3.eth.accounts.privateKeyToAccount(secretKey);
 web3.eth.accounts.wallet.add(account);
 const senderAddress = account.address;
 console.log(
 `Attempting to send ${amount} ETH from ${senderAddress} to ${to}`
 );

 const MAX_RETRIES = 3; // Maximum number of retries
 const COOLDOWN = 5000; // Time waited between retries in ms

 let retries = 0; // Initialize retry counter

 async function sendTransaction() {
 try {
 const balance = await web3.eth.getBalance(senderAddress);
 console.log(
 `Current balance: ${web3.utils.fromWei(balance, "ether")} ETH`
 );

 const gasPrice = await web3.eth.getGasPrice();
 console.log(
 `Current gas price: ${web3.utils.fromWei(gasPrice, "gwei")} Gwei`
 );

 const gasLimit = await web3.eth.estimateGas({
 from: senderAddress,
 to: to,
 value: web3.utils.toWei(amount, "ether"),
 });
 console.log(`Estimated gas limit: ${gasLimit}`);

 const gasCost = BigInt(gasPrice) * BigInt(gasLimit);
 console.log(
 `Estimated gas cost: ${web3.utils.fromWei(
 gasCost.toString(),
 "ether"
 )} ETH`
 );

 const amountToSend = web3.utils.toWei(amount, "ether");
 const totalCost = BigInt(amountToSend) + gasCost;

 if (BigInt(balance) >= totalCost) {
 console.log(`Amount to send: ${amount} ETH`);

 const transaction = {
 to: to,
 value: amountToSend,
 gas: gasLimit,
 gasPrice: gasPrice,
 nonce: await web3.eth.getTransactionCount(senderAddress, "latest"),
 };

 console.log("Signing transaction...");
 const signedTx = await account.signTransaction(transaction);

 console.log("Transaction signed. Sending...");
 const receipt = await web3.eth.sendSignedTransaction(
 signedTx.rawTransaction
 );

 console.log(
 `Transaction successful with hash: ${receipt.transactionHash}`
 );
 console.log(
 `Find the transaction in the explorer: https://sepolia.etherscan.io/tx/${receipt.transactionHash}`
 );
 } else {
 console.log(
 "Not enough balance to cover the transaction cost. Transaction aborted."
 );
 }
 } catch (error) {
 console.error(`Failed to send transaction: ${error.message}`);

 if (retries < MAX_RETRIES) {
 retries++;
 console.log(`Retrying... (${retries}/${MAX_RETRIES})`);
 await new Promise((resolve) => setTimeout(resolve, COOLDOWN)); // Wait for 5 seconds before retrying
 await sendTransaction(); // Retry the transaction
 } else {
 console.error("Maximum retries reached. Giving up.");
 }
 }
 }

 await sendTransaction();
}

// Replace with your secret key, recipient address, and the amount to send
const secretKey = "0x_YOUR_PRIVATE_KEY";
const recipientAddress = "DESTINATION_ADDRESS";
const amountToSend = "1.0"; // Amount in Ether

sendAmount(secretKey, recipientAddress, amountToSend);

Key Features of This Code

1. Retry Logic: Automatically retries failed transactions (up to 3 times).
2. Gas Estimation: Calculates gas costs dynamically to avoid overpaying.
3. Balance Checks: Verifies the sender has sufficient funds before proceeding.

Best Practices for Using eth_sendRawTransaction

• Security: Never expose private keys in client-side code.
• Gas Optimization: Use tools like ETH Gas Station to monitor gas prices.
• Error Handling: Implement robust retry mechanisms for network issues.

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FAQs

What is eth_sendRawTransaction?

It’s an Ethereum/BSC JSON-RPC method for broadcasting signed transactions to the network.

Why use Chainstack’s RPC node?

Chainstack offers reliable, low-latency access to BNB Chain, ensuring fast transaction processing.

How do I check my transaction status?

Use a block explorer like BscScan with the transaction hash.

What happens if a transaction fails?

The code includes retries, but always verify gas fees and nonce values.

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**Notes**: