Solana validators have approved a proposal called “Timely Vote Credit” to reduce consensus vote latency and incentivize timely votes before implementing the mechanism, potentially speeding up blockchain transactions.
Solana (SOL) validators have voted in favor of a proposal called “Timed Vote Credit” that aims to reduce the latency of consensus votes, potentially speeding up blockchain transactions. This proposal introduces a mechanism to incentivize validators to vote on time, addressing an issue where some validators delay their votes to maximize earnings without penalty.
Currently, Solana validators receive a fixed one-vote credit for each consensus vote submitted on the last block. However, this incentive structure has led to an intentional delay in voting, as validators wait until they are certain they are voting on the correct fork to optimize their earnings. This delay in voting can contribute to increasing latency in the consensus process and slowing down transaction processing times.
The “timed vote credit” proposal, initially suggested by Solana validator Shinobi Systems, offers a variable number of vote credits based on the latency of votes. Votes with lower latency will receive a higher number of credits, incentivizing validators to submit their votes promptly. By rewarding timely votes, the proposal aims to discourage intentional delays and reduce the overall latency of consensus votes on the Solana blockchain.
The impact of the “timed vote credit” mechanism on transaction speed has not yet been determined. However, Solana Compass data shows that the network currently handles about 1,000 user transactions and about 2,000 vote transactions per second. By reducing the latency of consensus votes, Solana aims to improve transaction processing times and increase the overall efficiency of the blockchain.
The implementation of the “Timed Vote Credit” mechanism is expected after the v1.18 upgrade on the Solana network. The upgrade will also address network congestion and priority fee issues, further optimizing the performance of the blockchain. Additionally, Solana is actively working on fixing the QUIC implementation bug that caused transactions to fail, which is scheduled for successful testing on April 15.
Finally, Solana validators have approved the “Timed Vote Credit” proposal, which aims to reduce the latency of consensus votes and potentially speed up blockchain transactions. By encouraging timely votes, Solana seeks to improve transaction processing times and increase the overall efficiency of the network. The implementation of a “timed vote credit” mechanism is expected after the v1.18 upgrade, along with other optimizations to address network congestion and priority fee issues.
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