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Today, weโre going to take a look at what happens (behind the scenes) on the $Ton blockchain.
@ton_blockchain ๐The Fastest Finality in the Game
$TON is a Layer 1 (L1) blockchain that currently has the fastest finality time of any L1 network. Right now, TON clocks in at 0.6 seconds, surpassing Avalanche (created by developers in the West/England).
Four months ago, when @durov returned to revive the TON blockchain and its entire ecosystem, one of his primary focuses was improving latency specifically, the finality time.
Today, a transaction on TON takes less than a second (0.6 seconds) to be exact.๐ฅ
Understanding Finality and Latency
In the world of blockchain science
Finality Time or Latency refers to the duration from the moment a user broadcasts a transaction to the network until the network finishes verifying it, includes it in a block, and approves it.
Once a user sends something (like a transaction or information), it passes through several stages before it becomes irreversible,meaning it cannot be altered, double-spent, or reversed.
The Steps of a Transactionโก๐ฅ
1. Data Collection:- The moment you send a transaction, the blockchain gathers five key pieces of information:
i. Your wallet address.
ii. The recipient's wallet address.
iii. The Gas fee (network charges).
iv. The amount being sent.
v. Your Private Key (your digital signature/approval).
2. Signing and Transmission
Your wallet signs this data and sends it to the first Validator or Node. This is how it works under the Proof of Stake (PoS) consensus algorithm.
> Note: Don't be confused; while Bitcoin's Proof of Work (PoW) is different, the core concept of verification is similar. This also differs from the Gossip about Gossip protocol used by Hederaโs Hashgraph technology, which we discussed in previous months.
3. The Mempool (Memory Pool)
Once a validator receives your transaction, they place it in the Mempool. This is a waiting area for unconfirmed transactions. The validator checks if you have enough gas fees.
โHow it works: Validators look at the Mempool and compete to pick transactions with the highest fees first to maximize their profit.
๐ซตExample: If the Mempool has transactions offering fees of 1,000 Naira, 800 Naira, and 200 Naira, every validator will race to process the 1,000 Naira one first.
4. Block Inclusion
The validator (or Miner) checks for double spending. They then determine where the transaction fits (NFT, Fungible token, etc.) and place it into a Candidate Block.
โ
In PoW (Bitcoin): A miner solves complex puzzles to create a cryptographic hash.
โ
In PoS (Ethereum, Solana, TON): The network selects a validator, often based on who has the highest stake in the ecosystem's governance token.
5. Consensus
A block of transactions is created. Think of this like digging a grave where the transaction will be buried forever it can never be removed. The transaction is then shared with all other live validators so they can verify it and keep a copy of the record.
6. Confirmation
The validators agree to add it to the most recent block. At this point, the transaction is Confirmed.
Comparison of Speeds๐ฅ
All of these steps happen in the blink of an eye on modern networks:
TON: 0.6 seconds.
Avalanche:~1 second.
TRON:~1 minute.
Bitcoin: Can take up to 1 hour.
Let's explore @ton_blockchain
Ecosystem
May we find success in our endeavors.
@Imranamkr @toncommunity
EMRAN@Imranamkr
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