Ethereum users

Research: An increasing number of experienced Ethereum users are choosing to conduct private transactions on the blockchain

ChainCatcher news, according to CoinDesk, based on the latest research from Blocknative, an increasing number of experienced Ethereum users are choosing to conduct private transactions on the blockchain—relying on so-called dark pools to avoid trading bots set up for front-running, but this may obscure the openness and transparency that should characterize a decentralized public network.Private transactions are sent directly to validators or block proposers, rather than the public mempool. In terms of total gas usage, private transactions now account for about half of the total on Ethereum, reflecting the computational power required to process transactions. In September 2022, when Ethereum transitioned to a PoS proof network, this proportion was about 7%, but it began to surge this year, remaining around 15% since the beginning of 2024.Blocknative wrote in a blog post discussing this finding that the result of this trend is that "private transaction order flow is accessible only to permissioned network participants," and if a few seasoned participants gain more rewards, this could become a centralizing force. Blocknative CEO Matt Cutler stated in an interview, "Only a few participants can see private flow. Some people can see things, while others cannot, which creates opportunities and advantages."For professionals who have previously observed such statistics, these figures may seem somewhat strange. A more typical way to measure the prevalence of private activity is by transaction volume, which is currently about 30%. Just in 2022, this proportion was close to 4.5%. However, Blocknative indicates that private transactions tend to be more complex, thus requiring more "gas." Blocknative wrote in the post, "By shifting the focus to the amount of gas used by private transactions, we can gain a more accurate understanding of network dynamics."

Vitalik published an article discussing ways to provide Ethereum users with faster transaction confirmation times

ChainCatcher message, Ethereum co-founder Vitalik Buterin published an article titled "In-depth Slot-and-Epoch Architecture: A Method for Providing Faster Transaction Confirmation Times for Ethereum Users." The article states that, although transaction confirmation times on Ethereum L1 have been reduced to 5-20 seconds, comparable to credit card payment experiences, thanks to EIP-1559 and stable block times after the merge, further reducing latency still holds significant value, especially for applications that require hundreds of milliseconds or even less latency.In the paper, Buterin introduces practical options that Ethereum is exploring to accelerate transaction confirmation speeds, with a focus on single-slot finality (SSF) in existing technologies. Currently, Ethereum's Gasper consensus mechanism employs a slot-and-epoch architecture, but this mechanism is complex and has a long finality confirmation time (12.8 minutes). SSF, on the other hand, allows blocks to be finalized before the next block is generated using a mechanism similar to Tendermint, while retaining the "inactive leakage" mechanism to ensure the stable operation and recovery capability of the chain. The main challenge of SSF is that it imposes a significant load on the chain, but new proposals like Orbit SSF are working to mitigate this issue. Additionally, the paper discusses rollup pre-confirmation and pre-confirmation-based mechanisms.Buterin emphasizes that the slot-and-epoch architecture is clearly the right choice, but not all slot-and-epoch architectures are equal. He advocates for a more comprehensive exploration of the design space, particularly options that have a stronger separation of concerns between these two mechanisms to reduce transaction confirmation times and enhance user experience.
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