Sequencer

Metis has completed the second phase of the decentralized sequencer upgrade, introducing new features such as sequencer mining

ChainCatcher news, Layer 2 scaling solution Metis announced that the second phase of its decentralized sequencer upgrade has officially gone live through a hard fork at block height 16500000. This upgrade mainly introduces new features such as multiple transactions within a block, a transaction pool, and sequencer mining.In this upgrade, Metis has increased the number of transactions that a single block can contain from 1 to multiple, and has fixed the transaction confirmation time to 2 seconds. A transaction pool has also been introduced to cache pending transactions. These two improvements will significantly enhance network throughput and reduce block production costs.Additionally, this upgrade introduces a sequencer mining mechanism aimed at better coordinating the incentives of all participants in the network. Sequencer nodes will receive METIS token rewards for sorting, packaging, and submitting transactions to the Ethereum mainnet. Users can stake METIS tokens to receive liquid staking tokens as a receipt, which can be used in other DeFi protocols.Currently, the Metis community has selected Artemis Finance and Enki Protocol as the two liquid staking service providers for the Alpha phase through the CEG mechanism. Users can now participate in staking mining through Artemis, and Enki will also launch on the mainnet soon.In the coming year, sequencer nodes will receive 20% of the mining rewards, and related DeFi products such as DEX liquidity pools and lending pools are expected to provide deeper use cases for METIS staking token holders. Metis will also establish strategic partnerships with several crypto institutions to ensure the full decentralization and high participation of its decentralized sequencer.
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