Solana community approves Timely Vote Credits mechanism to speed up transaction confirmations News ▸ Solana ▸ Technology
Solana community approves Timely Vote Credits mechanism to speed up transaction confirmations
The TVC mechanism introduces a new incentive structure for validators, rewarding faster transaction processing with higher vote credits.
2 min read
Updated: Apr. 9, 2024 at 8:19 pm UTC
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The Solana community has voted to activate the Timely Vote Credits (TVC) mechanism on its mainnet to improve the blockchain’s transaction processing speed and overall efficiency.
The TVC mechanism introduces a new incentive structure for validators, rewarding faster transaction processing with higher vote credits.
The decision to activate the mechanism follows comprehensive testing and discussions within the community, as outlined in the Solana Improvement Document 33 (SIMD-0033) — published on March 14.
Incentivizing faster votes
Traditionally, Solana validators employed various strategies to maximize vote credits, including cautious voting on fork outcomes to avoid committing to a dead fork. This practice, known as “vote lag,” often led to delayed block confirmations, directly impacting the network’s performance.
By adjusting the rewards system to favor quicker votes, the TVC feature aims to mitigate these delays, encouraging validators to accelerate their voting processes and thereby improve transaction confirmation times.
The activation of TVC involves two critical updates. The first replaces the existing vote account structure with “LandedVote,” which incorporates vote latency data, preparing the system for the new rewards mechanism. The second enables the vote program to consider this latency when distributing vote credits, with the goal of significantly rewarding promptness.
Testing completed
Prior to its mainnet deployment, the TVC feature was rigorously tested on the Solana testnet via unit tests and a specialized test cluster. The community verified the feature’s effectiveness and reliability, ensuring that it functions as intended and supports the network’s goals without compromising security or integrity.
The process leading to TVC’s mainnet activation included an initial eight-epoch testing phase on the testnet, followed by a period for discussion and verification of stake weights among validators.
The community engaged in a thorough decision-making process, employing a voting system that allocated tokens based on stake weights to facilitate a fair and democratic assessment of the proposal.
The vote’s successful outcome and overwhelming support — 98% in favor — highlight the Solana community’s dedication to fostering innovation and enhancing the blockchain’s capabilities.
The Solana Developer Forums and the Solana Tech Discord channel played crucial roles in the process, providing platforms for vigorous discussion, collaboration, and dissemination of information regarding the TVC feature.
As the Solana network prepares for the TVC feature’s implementation, the blockchain community anticipates notable improvements in the speed of transaction processing and overall network performance.
Posted In: Solana, Technology
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Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
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Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.