The eCash team is actively working on Avalanche Pre-Consensus, a technology capable of improving transaction finality, preventing double spends, and enhancing network scalability.
Achievements Reached
The eCash team has made significant progress in developing Avalanche Pre-Consensus. Specifically, the Avalanche network now has the ability to vote on transactions, not just on blocks and proofs. This is the fundamental building block for Pre-Consensus, allowing the network to agree on which transactions should be included in blocks. Additionally, the capability to store and vote on conflicting/rejected transactions by policy is realized, and a mechanism to reject blocks containing transactions that conflict with network decisions has been developed.
Current Development
After successfully completing key milestones, attention is now focused on the next critical steps. One significant aspect is the acceptance or rejection of transactions according to vote outcomes and storing and mining finalized transactions. This allows miners to include only finalized transactions in blocks and exclude conflicting ones. Finalized transactions are remembered permanently, preventing conflicts and enhancing performance by making block construction more efficient.
The Future of Avalanche Pre-Consensus for eCash
The implementation of Avalanche Pre-Consensus in the eCash network will allow agreeing on transactions before they are included in blocks, providing real-time finalization and increased reliability. For businesses, this means instant payment confirmations, for users—seamless deposits without block confirmation wait times, and for the entire eCash network—unprecedented efficiency and scalability. This advancement will dramatically speed up transaction finalization time, reducing it from 10 minutes to less than 3 seconds. This technology makes eCash one of the fastest and most scalable blockchain systems.
The journey towards Avalanche Pre-Consensus has been a challenging engineering feat, but major hurdles have been overcome, and eCash is on the brink of revolutionary changes. The technology is set to make eCash the fastest and most scalable layer 1 blockchain.
