We're all familiar with those transaction that get stuck where gas prices jump up. Your wallet is basically useless at this point and you keep refreshing etherscan to see if anything happens. It's a major headache and can easily disrupt auto tasks.
Reason is Ethereum processes each nonce in order. Until the previous transaction is cleared, no new transaction will be picked up by miners. This is a native feature to prevent theft and I think it's decent. Now the problem is, if for some reason, a transaction is not being picked up by miners, it could be just stuck for a long unknown period of time. Just search 'transaction stuck' or 'cancel transaction' in this subreddit to see how common this problem is.
While looking into this, I read somewhere transactions on Ethereum used to automatically cancel if not picked up after a day or two. However that was changed later and now that time limit is not there.
There are a couple of hacky ways of dealing with this. For example, you can send a new transaction using the same nonce as the stuck transaction but with higher gas. This way the tx will be picked up and canceling the old one.
My question is why isn't there any native feature to cancel a transaction if not picked up by miners yet? All the current work around require user to pay for gas again. It seems such a necessity feature to implement that can prevent so much headache.
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