Filecoin(FIL) F3 Launch

F3 is here! Fast Finality in Filecoin speeds up transaction finality by 450x, cutting it from 7.5 hours to minutes.

Perfect for developers building fast, efficient apps like smart contracts & bridges.

ast Finality in Filecoin (F3) is coming to the network, speeding up finality on the network by 450X. The finality period is the amount of time that must elapse before a block is considered completely immutable. With F3, finalization times are reduced from 7.5 hours (900 epochs) to just minutes, improving user experience and opening the door for applications, exchanges, and interoperability to build on the network.

How it Works

Currently, the Filecoin network uses Expected Consensus (EC) as the mechanism to reach an agreement on transactions. On other blockchains, blocks and transactions represent the network's state at any given time, but this structure has drawbacks, such as network latency. Network latency can hinder potential block producers, not all valid work gets rewarded, and decentralization and collaboration in block production are not incentivized.

Unlike other blockchains, Filecoin is essentially a chain of groups of blocks called tipsets, rather than a chain of individual blocks. Since all valid blocks submitted in a given round are included in the consensus, the network benefits from improved efficiency and throughput by incorporating all valid blocks in each round. This ensures incentivized block production, reduced centralization, and more collaboration. Additionally, EC allows for rapid convergence during forks since all blocks within a tipset share the same height and parent.

However, EC can take a long time for finality, creating challenges for applications built on Filecoin, especially for transactions involving smart contracts and bridges with other chains. To address this challenge and reduce finality time, FIP0086 was introduced and the change was soft-launched as part of the NV23 Waffle upgrade to enable mainnet readiness testing.

For the Filecoin network, reduced finality times can be achieved in two incremental steps. First, the Easy Finality Calculator tool optimizes finality times by analyzing chain conditions and dynamically assessing the confidence level in the current chain state — all without requiring any changes to the core protocol. Second, for more deterministic faster finality, F3 integrates a new consensus protocol called GossiPBFT. F3 aims to give the best of both worlds: the properties of EC that give us availability and throughput, along with a dramatically faster finality.

Blijf op de hoogte van CoinCarp Social Media en discussieer met ons:

X (Twitter) | Telegram  | Reddit

Download nu de CoinCarp-app: https://www.coincarp.com/app/