Buffalu, the founder of the encrypted infrastructure company Jito, stated in a post on X: "The Jito Labs Block Engine team has been advancing development work, focusing on reliability and performance:
- Reducing reliance on centralized databases;
- Better and faster network retries;
- Improved load balancer performance;
- Enhanced auction logic leading to lower latency and more transactions.
These improvements have been reflected in the user experience: more transactions can be completed faster. Jito tips are paid at a ratio of about 1:1 to normal priority fees, but the block space used is very small (the average CU per block in the past 12 hours has been about 9.3M, totaling 48M).
To achieve this, we ran simulations on the customized internal fork of Jito-Solana (> 500k/s). Our system and validator clients remove execution-failed bundles, saving block space and improving the experience for all users on the network.
We have cared for stakers from day one by establishing a protocol that transparently distributes tips to stakers. This has led to increased staking rewards for validators and LST across Solana (priority fees were only shared with stakers until SIMD-0123). Now, about 20-30% of staking rewards come from Jito tips.
Since its launch at the end of 2022 (early validator adopters), validators and stakers have earned over 31 million SOL in additional income. This month, it generated 9.2 million SOL ($208 million) in revenue for validators and stakers.
There is still much work to be done:
- Improving auction efficiency and tip prediction work;
- Platform performance;
- Infrastructure redundancy and global footprint expansion;
- (Revised) v2, scheduled for release early next year."