Buterin proposes faster Ethereum trades with single-slot finality

Ethereum co-founder Vitalik Buterin intends to quicken up transactions on the Ethereum network by utilizing technologies that could reduce layer-1 confirmation times from several seconds to milliseconds. On June 30, Buterin wrote a blog post titled “Epochs and slots down ways to give Ethereum users faster transaction confirmation times.”He suggested switching from Ethereum’s present epoch-and-slot mechanism to a single-slot finality (SSF) scheme while highlighting some of the major implementations.

L1 transaction confirmation times have lowered to 5–20 seconds by Ethereum Merge’s 2022 switch from proof-of-work to proof-of-stake, making it competitive with credit card payments. Co-founder of ETH Buterin thinks there’s room to improve transaction speed because certain apps can run with latency as little as a few hundred milliseconds. Modifying the design of slots and epochs which is a reference to Ethereum 2.0 and the Ethereum Gasper consensus is one method to enhance the user experience.

To describe it simply, a random ETH validator, or staker, has 12 seconds to submit a block proposal. This is known as a slot.One epoch is made up of every 32 slots, hence 32 committees or groups of validators are needed to finish the Ethereum blockchain validation process.

The goal of the Gasper consensus mechanism is to support finality, a crucial Ethereum idea. In essence, this means that after a transaction, slot, or epoch is completed, 33% of the total Ether staked must burn for a block to change or be removed from the blockchain.

Buterin Advocates for Single-Slot Finality

Buterin believes that the Ethereum Foundation is becoming more and more restless with the present epoch-by-epoch finality method and slot-by-slot voting process.A system like this is prone to a lot of complexity and interaction issues. He pointed out that the present 12.8-minute wait time for finality is likewise excessive due to such infrastructure.

Moreover, he proposed switching from slot-by-slot finality to single-slot finality, which would resemble the Tendermint consensus method, to address these problems. Buterin underlined that SSF has a major problem with possible consequences, such as every Ethereum staker having to broadcast two messages every 12 seconds, which would cause network congestion.