Solana’s Blockchain runs 30 minutes slower than the real world
The Solana network clock has gone out of sync with real-world time and is now running about half an hour slower. Solana announced it on their status page on Thursday, May 26.
This incident did not have any impact on network performance. However, transactions on the network will display timestamps other than “time on the wall clock.”
This time disparity is one of the effects of the current slower slot times on Solana. Slot time refers to the time interval when a validator can submit a block to the network.
Solana’s ideal slot time is 400 milliseconds (ms), but this value has almost doubled to about 746ms, according to data from the Solana blockchain explorer dashboard.
This project uses PoH as a consensus algorithm; PoH takes care of Solana’s timekeeping by enabling each node on the network to maintain an accurate record of time.
SOL uses a set of validators responsible for processing transactions on the blockchain, and PoH calculates decentralized current hours. When slot times become significantly more extended than 400ms, the cluster’s clock begins to drift, and that is to say, it loses synchronicity with real-world time.
In addition to the fact that time is not in sync with real-world time, this also causes some economic effects related to the annual staking reward.
Project’s staking rewards are paid on each epoch. As such, fewer epochs will reduce the earnings collected by delegators and validators on the network.
This reduction in staking yield is also in addition to the fact that SOL, like other coins, has declined significantly since the start of the year.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Solana’s Blockchain runs 30 minutes slower than the real world
The Solana network clock has gone out of sync with real-world time and is now running about half an hour slower. Solana announced it on their status page on Thursday, May 26.
This incident did not have any impact on network performance. However, transactions on the network will display timestamps other than “time on the wall clock.”
This time disparity is one of the effects of the current slower slot times on Solana. Slot time refers to the time interval when a validator can submit a block to the network.
Solana’s ideal slot time is 400 milliseconds (ms), but this value has almost doubled to about 746ms, according to data from the Solana blockchain explorer dashboard.
This project uses PoH as a consensus algorithm; PoH takes care of Solana’s timekeeping by enabling each node on the network to maintain an accurate record of time.
SOL uses a set of validators responsible for processing transactions on the blockchain, and PoH calculates decentralized current hours. When slot times become significantly more extended than 400ms, the cluster’s clock begins to drift, and that is to say, it loses synchronicity with real-world time.
In addition to the fact that time is not in sync with real-world time, this also causes some economic effects related to the annual staking reward.
Project’s staking rewards are paid on each epoch. As such, fewer epochs will reduce the earnings collected by delegators and validators on the network.
This reduction in staking yield is also in addition to the fact that SOL, like other coins, has declined significantly since the start of the year.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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