useETHPrice

The useETHPrice hook fetches the real-time ETH price from the Chainlink oracle on-chain. This hook provides accurate, decentralized price data that can be used for gas cost calculations and other price-related features.

Usage

import { useETHPrice } from 'ethereum-identity-kit'
 
function MyComponent() {
  const { ethPrice, isLoading, error } = useETHPrice()
 
  if (isLoading) return <div>Loading ETH price...</div>
  if (error) return <div>Error loading price</div>
 
  return (
    <div>
      Current ETH Price: ${ethPrice?.toFixed(2)}
    </div>
  )
}

Features

• Real-time Updates: Fetches current ETH price from Chainlink oracle
• Decentralized: Uses on-chain oracle data instead of centralized APIs
• Gas Cost Calculations: Ideal for calculating transaction costs in USD
• TypeScript Support: Fully typed return values

Return Value

The hook returns an object with the following properties:

Example: Gas Cost Calculator

import { useETHPrice } from 'ethereum-identity-kit'
 
function GasCostCalculator({ gasAmount, gasPrice }) {
  const { ethPrice } = useETHPrice()
 
  if (!ethPrice) return null
 
  const gasCostInETH = (gasAmount * gasPrice) / 1e9 // Convert gwei to ETH
  const gasCostInUSD = gasCostInETH * ethPrice
 
  return (
    <div>
      <p>Gas Cost: {gasCostInETH.toFixed(6)} ETH</p>
      <p>≈ ${gasCostInUSD.toFixed(2)} USD</p>
    </div>
  )
}

Notes

• The hook uses Chainlink’s ETH/USD price feed for accurate pricing
• Price updates automatically when the oracle updates
• No API keys or configuration required
• Works on all supported networks with Chainlink oracles