A massive surge is expected for the ethereum network as the project's co-founder and cryptocurrency enthusiast Vitalik Buterin has announced… x.com/VitalikButerin/status/1807503026548289862″ target=”_blank” rel=”noopener nofollow”>Discovered A new feature on the ethereum blockchain that promises to significantly speed up transaction confirmation times. The new Single Slot Finality (SSF) feature has the potential to make ethereum transactions very instantaneous, by streamlining the process of building consensus on the network.
ethereum network transactions experience a significant improvement
As ethereum continues to develop, Vitalik ButerinThe announcement highlights ongoing efforts to address efficiency and scalability issues. The debut of Single Slot Finality (SSF) is a critical step toward improving the network’s ability to process more transactions quickly and securely.
Buterin revealed the latest innovative solution in a blog post titled “Epochs and slots until the end: ways to give ethereum users faster transaction confirmation times.”
Now, ethereumGasper consensus employs a slot-epoch architecture. Under this system, a subset of validators can cast a vote at the head of the chain every 12 seconds, and all validators have 32 slots (6.4 minutes) to vote. After two epochs (12.8 min), these votes are reinterpreted as messages in a consensus mechanism that resembles PBFT and provides strong economic assurance known as finality.
Because the current procedure is very long, users have become increasingly uncomfortable with it in recent years. This is because the slot-by-slot voting method and epoch-by-epoch finalization mechanism are intricate and often have interaction flaws, and 12.8 minutes is an excessively long time, as no one is interested in waiting that long.
However, with the introduction of Single Slot Finality, this is all about to change, as SSF will replace this approach with a process more akin to Tendermint consensus, where block N is finalized before block N+1 is created. The main distinction with Tendermint is that users can maintain the “idle leak” method, which keeps the chain alive and helps it recover in case more than a third of the validators go offline.
Although the new feature promises fast transaction times for the ethereum NetworkThere are also challenges that it could face. Using the initiative ignorantly would mean that every ethereum participant would have to publish two messages every 12 seconds, which could put a huge burden on the chain.
Two different pre-confirmation systems
According to the blog post, the SSF feature has two distinct approaches including Rollup pre-confirmations and Rollup-based pre-confirmations.
Rollup confirmations create a division of concerns within the ethereum ecosystem. As a result, eth layer 1 solutions will focus on being censorship-resistant, reliable, stable, and preserving and improving a specific core of functionality, while layer 2 solutions will focus on interacting directly with users by making different technological and cultural trade-offs.
Meanwhile, the strategy of pre-confirmations based on the assumption that Ethnicity Proposers would become highly skilled actors for FSM-related purposes. By providing incentives for these expert proposers to take on the task of offering pre-confirmations as a service, the approach capitalizes on this expertise.
Featured image from Adobe Stock, chart from Tradingview.com
