Solana’s validators approved a proposal called “Timely Voting Credits” to reduce consensus voting delays and incentivize timely voting, potentially speeding up blockchain transactions, before the mechanism is implemented.
Solana (SOL) validators have voted in favor of a proposal called “Timely Voting Credits” that aims to reduce the delay of consensus votes, potentially speeding up blockchain transactions. This proposal introduces a mechanism to incentivize validators to make timely votes, addressing a problem where some validators delay their votes to maximize profits without penalties.
Solana validators currently receive a fixed credit of one vote for each consensus vote they cast for a finalized block. However, this incentive structure resulted in a deliberate delay in voting, as validators wait until they are sure they are voting on the correct fork to optimize their profits. This delay in voting can contribute to increased delays in the consensus process and slower transaction processing times.
The “Timely Voting Credits” proposal, originally proposed by validator Solana Shinobi Systems, introduced a variable number of voting credits based on vote latency. Votes with lower latency will receive more credits, incentivizing validators to submit their votes in a timely manner. By rewarding timely votes, the proposal aims to discourage deliberate delays and reduce the overall delay of consensus votes on the Solana blockchain.
The impact of the Early Voting Credits mechanism on transaction speeds remains to be determined. However, Solana Compass data shows that the network currently processes about 1,000 user transactions and nearly 2,000 voting transactions per second. By reducing the latency of consensus votes, Solana aims to improve transaction processing times and improve the overall efficiency of the blockchain.
The implementation of the “Timely Voting Credits” mechanism is expected to happen after the v1.18 upgrade on the Solana network. This upgrade will also address network congestion and priority fee issues, further optimizing blockchain performance. Additionally, Solana is actively working to fix a bug in the QUIC implementation that caused transactions to fail, with a fix scheduled for April 15 pending successful testing.
In conclusion, Solana’s validators approved the “Timely Voting Credits” proposal, which aims to reduce the delay of consensus votes and potentially speed up blockchain transactions. By incentivizing timely votes, Solana aims to improve transaction processing times and improve overall network efficiency. The implementation of the Timely Voting Credits mechanism is expected to happen after the v1.18 upgrade, along with other optimizations to address network congestion and priority fee issues.
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