Metaverse Information Bureau News: Proposal to halve Ethereum block time! Speed improvement and efficiency are expected. #Ethereum #Blockchain #EIP7782
Video explanation
Ethereum could become twice as fast? Explaining the news of the "block time halving" that will have a major impact on the metaverse!
Hello, I'm John, a blog writer bringing you the latest news on the Metaverse in an easy-to-understand way!
Recently, there has been a lot of buzz about a big change that may be coming to Ethereum, the key technology that supports the metaverse and the world of NFTs. The processing speed may double.
Don't worry if you think it sounds difficult! In this article, we will explain in detail how this news affects us, without using technical terms as much as possible, so that even beginners can understand.
First of all, what is Ethereum?
Before we get into the main topic, let’s first briefly review what Ethereum is.
Ethereum is famous as a type of cryptocurrency (virtual currency) just like Bitcoin, but it is actually much more than that."A platform for running a variety of internet-based services"The role of the organization is very important.
Many of the metaverse spaces, NFT art, and blockchain games that you enjoy run on the foundation of Ethereum. Think of it as a very important entity, like the OS (Windows or Mac) of a computer.
The crux of the news: Will "block time" be halved?
Now, the main point of this news is"Decrease block time from 12 seconds to 6 seconds"The point is that this proposal (technically known as EIP-7782) is attracting attention.
You may be wondering, "What is a block time?" Let's think of Ethereum as one big train system.
- Transaction DataPassengers and luggage
- block：A "vehicle" that carries passengers and luggage
- Block Time: The interval at which trains depart from a station
In Ethereum, data from transactions (such as buying and selling NFTs and transferring money) conducted around the world is packed into boxes called "blocks" and recorded. Until now, these blocks (vehicles)12 every 1 secondsThey departed at intervals of .
The current proposal is to shorten this departure interval to6 every 1 secondsIn other words, it would be like trains running twice as frequently. If this were to happen, it would significantly shorten the time it takes for our "baggage (transaction data)" to reach its destination.
What are the benefits? (Advantages)
Shorter block times bring many benefits to us, the users.
- Transactions are approved faster!
When you buy an item or send an NFT in the Metaverse, the wait time until the transaction is "confirmed" will be halved. This will allow for smooth and comfortable operation, greatly reducing stress. - Enjoy the metaverse and games more comfortably!
This extra speed is especially important in games where real-time responsiveness is required, resulting in a smoother, less lag-prone experience. - Reduces network congestion
Because the number of transactions that can be processed at one time increases, the network is less likely to become congested even if many people use it at the same time. It's like increasing the number of trains running, making it less crowded.
What are the challenges and concerns? (Disadvantages)
Of course, it's not all good: this change comes with some technical challenges.
Going back to the railroad example mentioned earlier, if the intervals between trains were suddenly halved, there is a risk that station staff (computers around the world that support the Ethereum network) would be unable to keep up. The next train would arrive too early, and they wouldn't be able to get ready in time.
If that were to happen, there would be a risk that some station staff would miss their trains (technically known as missing a block), and the whole system would become unstable. Therefore, in order to realize this change, stakeholders around the world need to work together to carefully update the system and conduct thorough testing.
A word from John
Personally, I'm very excited about this news. It has the potential to make the metaverse a more familiar and comfortable place. Of course, the prerequisite is to overcome the technical hurdles, but I'm looking forward to seeing how the Ethereum community tackles this big challenge.
This article is based on the following original articles and is summarized from the author's perspective:
Proposal To Halve Ethereum's Block Times Gains
Traction