Company
Date Published
Author
Circle Research
Word count
3092
Language
English
Hacker News points
None

Summary

Circle Internet Financial conducted research on a fast confirmation rule for Ethereum consensus, aiming to reduce the time it takes to confirm transactions and finalize blocks on the Ethereum blockchain, which typically takes about 15 minutes. The study involved mainnet testing of the rule, which showed that blocks could be confirmed in approximately one minute, maintaining long-term inclusion in the blockchain. This rule differs from the traditional k-depth policy by considering the votes observed for a given block rather than just its depth, under certain network assumptions. The research revealed that all blocks confirmed by the new rule remained in the canonical chain, despite some reorganization events. The study also highlighted the potential for further optimization and integration of this rule into Ethereum clients, which could improve performance, reduce confirmation times, and offer new use cases while maintaining security. However, the fast confirmation rule is not intended to replace Ethereum's finality mechanism but rather to provide a tool for applications that require quicker confirmations.