News

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

CoinCu News

KAI

Victor

Recent Posts

ZA Bank Crypto Service Now Available to Retail Investors

ZA Bank crypto service has been launched for retail users to help them trade Bitcoin…

60 minutes ago

$2.9M Raised, 214M Tokens Sold: Why Qubetics, Arbitrum, and Stacks Are the Best Cryptos to Buy Today?

Discover the best altcoins to buy ahead of December 2024. Learn why Qubetics, Arbitrum, and…

5 hours ago

BlockDAG’s $20M Surge in 48 Hrs Powers It Towards $600M, as Ethereum Faces Resistance and Cardano Shows Potential

Discover how BlockDAG is moving towards a $600M goal amidst Ethereum’s price challenges and Cardano’s…

6 hours ago

Best Altcoins to Buy Ahead of December 2024: Turn $2K Into $429K, Don’t Miss Out on the Altcoin Boom of 2024!

Discover the best altcoins to buy ahead of December 2024. Qubetics presale skyrockets, Celestia gains…

8 hours ago

Miami Truck Driver’s Journey with Solana: Made Millions from a $15K Investment! Can BlockDAG Show Similar Growth?

Explore how a Miami trucker turned $15K into $94M through Solana, and his next focus…

9 hours ago

As Bitcoin Stabilizes at $100K, Are ADA and XRP Ready to Lead the Altcoin Boom?

As Bitcoin steadies at a remarkable $100,000, the crypto community shifts its gaze to altcoins…

9 hours ago

This website uses cookies.