The post F3 Brings Lightning-Fast Finality to Filecoin Network in Minutes appeared on BitcoinEthereumNews.com.

The Fast Finality (F3) upgrade reduces Filecoin’s finalization time from 7.5 hours to just minutes, revolutionizing efficiency. F3 integrates the GossiPBFT protocol, enhancing Filecoin’s speed, security, and responsiveness for a broader range of applications. The Fast Finality (F3) improvement in Filecoin is generating headlines as a game-changing change that significantly speeds up the network’s transaction finalization process. The finalization process, which formerly took approximately 7.5 hours, has now been shortened to mere minutes. This substantial improvement is about more than simply speed; it is about improving the overall user experience and opening up new possibilities for Filecoin-based applications, smart contracts, and exchanges. With the F3 upgrade, the Filecoin ecosystem will be faster, more efficient, and capable of supporting a wider range of decentralized applications. Fast Finality in Filecoin is here!🌐 F3 is revolutionizing the network, cutting finalization times from 7.5 hrs to minutes. This major upgrade boosts UX, enhances interoperability, & unlocks new possibilities for apps & exchanges on #Filecoin. Learn more: https://t.co/HAXhfBStlg — Filecoin (@Filecoin) September 25, 2024 Filecoin Innovative Approach to Overcoming Latency Challenges  Despite its efficiency, Filecoin’s existing Expected Consensus (EC) mechanism has latency issues while attaining finality. The F3 upgrade addresses these issues directly through two main components: the GossiPBFT consensus protocol and the Easy Finality Calculator. These technologies work together to reduce finalization times without requiring significant changes to the core protocol. The upgrade will be implemented in two parts, beginning with the NV23 upgrade and culminating with the NV24 upgrade later this year. This gradual rollout guarantees a smooth transition to a more efficient network capable of handling a wide range of demanding applications. This is not the first time Filecoin has shown its devotion to innovation. Previously, according to CNF, Filecoin has worked with Aethir to alleviate the scarcity of GPU resources, hence…

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Filed under: News - @ September 28, 2024 8:17 am