KEY TAKEAWAYS
- The Cronos EVM v1.4.0 ‘Pallene’ upgrade aims to enhance transaction processing by introducing parallel transaction processing and optimistic execution, potentially increasing capacity to 60,000 transactions per second.
- Parallel transaction processing is a key focus for Layer 1 networks, positioning Cronos EVM to meet the growing demands of the Web3 industry.
- The upgrade includes network optimizations such as refining the EVM message format and optimizing the Ethermint ante handler to improve speed and performance.
- Integration of Optimistic Execution and improved interchain accounts stability enhances cross-chain compatibility and network responsiveness.
The Cronos EVM v1.4.0 ‘Pallene’ upgrade proposal is now open for discussion on the Cronos EVM governance forum. This upgrade aims to significantly enhance transaction processing capabilities on the network, introducing parallel transaction processing and optimistic execution. These advancements are expected to enable the virtual machine to handle tens of thousands of transactions per second, a substantial increase from the current capacity of up to 100 transactions per second.
Parallel transaction processing has become a key focus among Layer 1 networks, and this development positions Cronos EVM to adapt to the growing demands of the Web3 industry. However, before these high-speed transactions can be fully realized, additional changes are necessary. The interval between blocks must be shortened from the current 5 to 6 seconds, and the volume of user transactions must increase to make faster blocks economically viable for network validators.
Enhancements in Transaction Processing
The Pallene upgrade introduces block-stm, or block-level Software Transactional Memory, which shifts transaction processing from a sequential to a concurrent model. This approach allows multiple transactions to be processed simultaneously within each block. By leveraging software transactional memory, the system efficiently manages concurrent transactions, resolving conflicts and reducing latency. This enhancement is expected to meet the demands of performance-driven applications and services.
A new benchmarking framework has been introduced to measure the performance improvements brought by block-stm. This framework, configurable in JSON format, allows developers to compare the virtual machine’s performance across various environments. Initial results indicate that Cronos EVM can execute up to 60,000 transactions per second, a significant improvement over the current rate.
Network Optimization and Future Prospects
The upgrade also includes practical improvements to reduce network overhead by refining the EVM message format and optimizing the Ethermint ante handler. These changes simplify transaction encoding and decoding, improve caching for signature checks, and optimize fee and gas validation, collectively enhancing network speed and performance.
Custom enhancements to the Cosmos SDK and CometBFT layers further improve efficiency. A new mechanism reduces the computational cost of encoding and decoding by storing Golang objects directly. Additionally, the fee collection logic has been refined to support parallel transaction execution, and event firing can now occur asynchronously, speeding up block processing.
The Pallene upgrade also integrates Optimistic Execution from Cosmos SDK 0.50, allowing block proposals to be processed in parallel, reducing block times and enhancing network responsiveness. Improved interchain accounts stability with IBC v8.5.2 strengthens cross-chain compatibility, making interchain accounts operations more stable and flexible.
For more details on the upgrade, visit the Cronos GitHub changelog or the official announcement here.
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