A Low Latency Blockchain is a distributed ledger system engineered to minimize the time delay between a transaction being submitted and its final confirmation on the network. This design prioritizes swift transaction processing, often achieving near-instantaneous finality. Such blockchains are crucial for applications where rapid settlement is paramount, like real-time payments, high-frequency trading, or interactive decentralized applications. They typically employ advanced consensus mechanisms and network architectures to reduce communication overhead.
Context
The development of Low Latency Blockchains addresses a significant limitation of earlier blockchain generations, which often experienced considerable delays in transaction finality. Current discussions center on the trade-offs between achieving low latency and maintaining decentralization and security, as some optimizations might favor speed over these other properties. A key debate involves the suitability of various consensus protocols, such as delegated Proof of Stake (DPoS) or certain Byzantine Fault Tolerant (BFT) variants, for achieving this goal. Future developments will likely focus on further reducing latency while preserving robust security and distributed governance.
This new DAG-based Byzantine consensus protocol reaches the theoretical 3-round latency limit by eliminating explicit block certification, drastically accelerating finality for high-throughput chains.
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