Vitalik Buterin, the co-founder of Ethereum, recently announced new strategies aimed at reducing transaction confirmation times on the Ethereum network. Recognizing the importance of faster transaction speeds, Buterin emphasized the need for latencies in the “hundreds of milliseconds or even less” for certain applications.
In a blog post on June 30, Buterin discussed Ethereum’s current progress, noting that the confirmation window is currently at 5-20 seconds, which is comparable to credit card transactions. However, he believes that there is still room for improvement through the implementation of new strategies.
One of the proposed strategies is Single-Slot Finality, which aims to simplify the existing complex slot and epoch architecture. By ensuring that each new block is finalized before the next one is proposed, Single-Slot Finality could significantly reduce transaction confirmation times. However, this proposal may present challenges, such as the additional load it could place on the blockchain due to the frequent messages sent by validators.
Another promising approach is Rollup Preconfirmations, where transaction confirmations are delegated to Layer 2 protocols like Optimism, Arbitrum, and Base. These protocols leverage Ethereum’s security while processing transactions at a larger scale and speed, allowing the network’s base layer to focus on core functions like censorship resistance and stability.
Buterin also suggested that users could offer additional fees for immediate transaction guarantees, allowing transactions to be included in the next block for improved security and reliability. This mechanism is particularly advantageous for Layer 2 solutions.
While Ethereum’s 12-second block generation time is faster than Bitcoin’s 10-minute block time, it still lags behind competitors like Solana, which achieves block times of 0.4 seconds. Buterin acknowledged that a 12-second block time may be sufficient for certain applications, but alternatives like the slot-and-epoch architecture are necessary for applications requiring greater speed.
Looking ahead, Buterin envisions a future where techniques like Single-Slot Finality and Rollup Preconfirmations are implemented together. For example, techniques like Orbit SSF could reduce the number of validators signing per slot, potentially extending slot times to 16 seconds while still reducing the 32 ETH staking minimum. These changes aim to provide better options for both L1 and L2 users, simplify tasks for L2 developers, and improve the network in the long term.