📣 Proposed Ethereum Upgrade: Speed Gains at Validators' Expense?
posted 7 Oct 2024
Ben Adams, co-founder of Illyriad Games, proposed an initiative to speed up the Ethereum blockchain. His proposal, submitted as Ethereum Improvement Proposal (EIP) #8931, recommends reducing Ethereum's slot time* from 12 seconds to 8 seconds.
Related: Explaining Complex EIPs in Simple Terms
*A slot time is the period needed to verify and add a new block in a decentralized network. Reducing the slot time increases the network's capacity to process more transactions per second.
Benefits of the Proposal:
- Reducing the slot time by 4 seconds would increase Ethereum's transaction throughput by 33%, which is a significant improvement.
- Rollup scaling solutions for Ethereum would see increased efficiency and speed.
- Shorter slot times would also help balance the load during peak network periods, such as during airdrops.
Challenges of Adams' EIP
Any major change to a complex system like Ethereum can have both positive and negative impacts.
One of the critical concerns highlighted by commentators is the increased complexity of validation.
More blocks being generated means a higher load on the network, demanding greater computational resources from validators. If validators cannot quickly adapt to these hardware requirements, it could destabilize the network and increase the risk of errors.
What's Next?
Discussions around Adams' proposal reveal concerns about additional investments needed for validator infrastructure and the potential rise in gas fees. The final decision by the Ethereum community will depend on these discussions, and we should have more clarity soon.
More breaking news
More breaking news
Breaking news
🚀 Do Salvadorans Really Need Bitcoin? Survey Results
Breaking news
📣 Grayscale Eyes Major Crypto ETF Conversion
