On the 9th of April, there was a proposal in Solana that gained an impressive approval of 98% from validators. The objective was to decrease the delay in reaching consensus on votes and possibly enhance the speed at which blockchain transactions are processed.
The proposal puts forth a new system called “Prompt Validation Rewards,” designed to influence validators in confirming transactions more efficiently. At present, validators are given an equal one-vote incentive for every consensus vote they cast. Consequently, some validators may postpone casting their votes to optimize earnings without repercussions.
The suggested new mechanism by Shinobi Systems, a validator on the Solana network, aims to incentivize quicker votes by rewarding them with more credits. This would minimize deliberate delays. According to Solana Compass data, approximately 1,000 user transactions and close to 2,000 vote transactions occur each second.
The effects of the change are still uncertain; it’s set to be implemented following the v1.18 update, focusing on resolving network congestion and priority fee concerns. Simultaneously, Solana experiences transaction failures due to a QUIC implementation flaw. A remedy is planned for April 15, subject to successful testing first.
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2024-04-10 09:08