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— SKALE (@SkaleNetwork) July 10, 2024
Technical Enhancements and Future Roadmap
Pacifica V3 shows much faster block mining speed (the average time is 1.85 seconds while in Pacifica it was as high as 3.84.). Overall, the improvement has driven block creation time down almost 2X from previous version on the SKALE Network for even faster confirmations and optimized transaction experience in all applications.
The upgrade also increased the network’s transaction processing capabilities from 144 transactions per second (TPS) to a significant 320 TPS. These developments make sure SKALE has the capacity to accommodate massive numbers of transactions at one time without it reaching its ceiling, which is crucial for enterprise-scale applications.
Further enriching the user and developer experience, Pacifica V3 introduces several new features such as EIP-1559 support for Type 1 & 2 transactions, which helps in automating fee adjustments based on network demand, thereby stabilizing transaction costs.
Additionally, the Interchain Messaging Agent has been improved that allows for 50% faster transfers thus ensuring better reliability in cross-chain communication. These efforts are furthered by smart contract enhancements enabling the smarter and more secure management of deployment permissions, which allows verifiers to fairly restrict changes unauthorized from being deployed into their contracts.
Stan Kladko, Co-Founder and CTO of SKALE Labs, expressed his enthusiasm about the upgrade, noting the substantial improvements in transaction speed and system efficiency. He went on to underscore that not only do these improvements streamline operations, but they also greatly cut operational costs – as demonstrated by SKALE users saving $400m in gas fees just last month.
Looking ahead, SKALE plans to continue this trajectory of innovation with the upcoming V3.1 update, which will introduce additional features like disk partitioning for chains and expanded pre-deployment capabilities in the SKALE contract functionality.