Sort N witnesses by the last block number they signed, then take the highest
block number that is lower than 66% of all other witnesses. This will indicate
that said block has been confirmed by 66% of all witnesses and is clearly
irreversible.
Sounds great. How would you tell exchanges that metric? will this be a new key
in the transactions object?
If we have 17 witnesses and 3 second blocks then this will take an average of 34 seconds.
If we have 101 witnesses and 3 second blocks then this will take an average of 3.3 minutes.
Fair enough. Considering we may end up with (my assumption) 20-50 witnesses, we
have just over a minute for irreversible transactions. Good selling point here.
We intend to propose a new transaction type that will allow a witness to
increase their last produced block number at will. Then witnesses can
determine how often to broadcast these extra operations. If 2/3 of witnesses
broadcast every block then it is possible for the blockchain to become
irreversible after just 3 seconds and we can take the lead in this particular
metric from Ripple. By making this extra speedy confirmation optional,
witnesses can choose to only broadcast when there is enough volume / transfers
which will mean that the blockchain will not get bloated while there are no
meaningful transactions (high value orders or transfers).
Wow .. holy **** that is hell of an option!!!!
I guess this will be a worker proposal for after 2.0 launch
The delayed node used by exchanges will only process blocks up to the last
irreversible block number.
No more --number-blocks parameter I assume?