Ethereum scaling project SKALE Labs has launched the Pacifica V3 upgrade, significantly boosting block mining and transaction speeds by over 100%.
Pacifica V3 Unveiled at EthCC 7 in Brussels
The announcement was made at EthCC 7 in Brussels, where SKALE Labs detailed the enhancements brought by the Pacifica upgrade. The new version promises a 122% increase in transaction speed and overall network performance, marking a significant step forward for the blockchain.
“This upgrade will make SKALE the most performant blockchain in the world in a number of major categories,” stated Jack O’Holleran, co-founder and CEO of SKALE Labs. “SKALE is built on a founding principle of constant innovation. This upgrade underscores SKALE’s commitment to driving innovation and scalability in blockchain technology.”
Investment and Support
SKALE is supported by notable investors, including Arrington XRP Capital, Blockchange, ConsenSys Labs, Hashed, HashKey, Multicoin Capital, and Winklevoss Capital. These partnerships highlight the confidence in SKALE’s ability to deliver cutting-edge blockchain solutions.
Key Features of the Pacifica V3 Upgrade
Increased Block Mining Speed
The Pacifica V3 upgrade will see a 108% increase in block mining speed, significantly accelerating the block creation process. This enhancement is critical for improving the efficiency and responsiveness of the network.
Enhanced Transaction Throughput
With a 122% increase in transaction throughput, the number of transactions processed per second will rise dramatically. This improvement will make SKALE a more robust platform for high-volume applications.
EIP-1559 Support
The upgrade includes support for EIP-1559, incorporating Type 1 and 2 Transactions. This feature allows for automatic fee adjustments based on network demand, ensuring predictable transaction fees and improving user experience.
Improved Interchain Messaging Agent (IMA)
The reliability metrics for the Interchain Messaging Agent (IMA) will see a 50% reduction in transfer time. This enhancement will facilitate quicker and more reliable cross-chain communications, further integrating SKALE into the broader blockchain ecosystem.
Better Integration with Web3 Tools
The upgrade will improve integration with web3 tools and wallets, expanding developer accessibility and usability. This feature is designed to attract more developers to the SKALE platform, fostering a more vibrant and innovative community.
Conclusion
The Pacifica V3 upgrade positions SKALE as a leading blockchain in terms of performance and scalability. By significantly boosting block mining speeds and transaction throughput, SKALE Labs continues to drive innovation in the blockchain space, supported by prominent investors and a commitment to constant improvement.
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