Vitalik Buterin, the founder of Ethereum, has just announced a new strategy to speed up transaction confirmation times on the Ethereum network. 🚀

Buterin acknowledged that faster transaction speeds are urgently needed, especially for applications that require latencies in the "hundreds of milliseconds or even less."

The new strategy includes Single-Slot Finality (SSF) which will streamline the current complex slot and epoch architecture. By ensuring each new block is completed before the next block is submitted, SSF can greatly reduce transaction confirmation times.

Additionally, there is also the Rollup Preconfirmations approach, where transaction confirmation is delegated to Layer 2 protocols such as Optimism, Arbitrum, and Base.

Buterin also advised users to offer additional fees for guaranteed immediate transactions. This will allow transactions to be included in subsequent blocks, increasing security and reliability.

Compared to Bitcoin's block time of 10 minutes, Ethereum's block creation time of 12 seconds is much faster. However, it is still less fast than competitors like Solana, which achieves block times of 0.4 seconds.

Buterin said he sees a future where SSF and Rollup Preconfirmations are implemented together. So, what do you think about this new strategy? Come on, discuss it in the comments column! 😄