Solana

Credits

Reddit

April

Solana validators have voted in a proposal aimed at decreasing the latency of consensus “votes” — which could speed up transactions on the blockchain.&nbsp;
The proposal calls for a “Timely Vote Credits” mechanism on Solana and was passed on April 9 with 98% votes in favor. 
It would change how validators are incentivized to make “votes” — a key part of Solana’s consensus mechanism that confirms transactions. 
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 <img src="https://s3.cointelegraph.com/uploads/2024-04/712d8c36-5852-4ba4-b1b6-5810fe8c95f9.PNG">
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 Solana Timely Vote Credits voting results. Source: Dune Analytics
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<a href="https://docs.solanalabs.com/proposals/timely-vote-credits" target="_blank" rel="noopener nofollow">According</a> to Solana Labs, up until now, validators are given a flat one vote credit whenever they submit a consensus vote on a block that becomes finalized by the network.&nbsp;
Over time, validators have found they can maximize earnings by delaying their votes just long enough to ensure they’re voting on the correct fork — at no penalty. 
The proposal, <a href="https://forum.solana.com/t/proposal-for-enabling-the-timely-vote-credits-mechanism-on-solana-mainnet/1179" target="_blank" rel="noopener nofollow">floated</a> on March 14 by “zantetsu” from Solana validator Shinobi Systems, would implement a variable number of vote credits that are awarded for votes — with more credits given to votes that have less latency. 
“This will discourage intentional ‘lagging,’ because delaying a vote for any slots decreases the number of credits that vote will earn,” Solana Labs explained. 
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 <img src="https://s3.cointelegraph.com/uploads/2024-04/864d07fe-c9a7-41a7-98ca-95eaea8c3963.PNG">
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 Solana users have raised concerns with the vote credit system in the past. Source: Reddit
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Currently, Solana Compass <a href="https://solanacompass.com/" target="_blank" rel="noopener nofollow">shows</a> the blockchain is producing approximately 1,000 “non-vote,” or user transactions per second and nearly 2,000 “vote” transactions per second.
Related: <a href="https://cointelegraph.com/news/paradigm-leads-225m-funding-solana-killer">Paradigm leads $225M funding round for new ‘Solana killer’ L1</a>
It’s not yet known what the impact of the new mechanism will be, as it’s expected to be implemented sometime after Solana’s v1.18 upgrade slated this month — which includes patches to fix priority fees and <a href="https://cointelegraph.com/news/solana-projects-delay-launch-network-congestion">network congestion issues</a> on the chain. 
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 <img src="https://s3.cointelegraph.com/uploads/2024-04/f0eccd59-e35c-4745-ab14-e7afc11824c7.PNG">
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 Source: <a href="https://twitter.com/Austin_Federa/status/1777800115131920641" target="_blank" rel="noopener nofollow">Austin Federa</a>
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Meanwhile, Solana has been battling a string of <a href="https://cointelegraph.com/news/solana-struggling-record-seventy-five-percent-trasnactions-fail-memecoin-mania">failed transactions</a> which has been blamed on an “implementation bug” from QUIC, a Google-developed data transfer protocol that loops all nodes in on the current state of the network.
A bug fix — which involves a reconfiguration for QUIC — is <a href="https://cointelegraph.com/news/solana-devs-target-mid-april-to-fix-failed-transaction-dilemma">now slated for April 15</a>, should no additional issues come about in testing.
Magazine: <a href="https://cointelegraph.com/magazine/blockchain-transactions-per-second-tps-stupid-big-questions/">Is measuring blockchain transactions per second (TPS) stupid in 2024? Big Questions</a>

Solana validators pass ‘Timely Vote Credits’ plan to speed up transactions

Cointelegraph

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