Fast Finality on the BSC network has been fully integrated, shortening transaction confirmation times to under 4 seconds with only 5 confirmation blocks.
This upgrade helps speed up the processing of DeFi, NFT, and GameFi transactions by over 83%, while ensuring network security through the consensus mechanism of more than 66% of validators, improving sending/receiving experiences on centralized exchanges.
MAIN CONTENT
Transaction confirmation time on BSC has decreased from 15 blocks to 5 blocks, under 4 seconds.
Processing speed of DeFi, NFT, GameFi has improved by more than 83% thanks to Fast Finality.
Cybersecurity is guaranteed by the consensus mechanism from more than 66% of validators.
What is Fast Finality on BSC and its importance?
Fast Finality is a feature integrated into the BSC mainnet that reduces transaction confirmation times to under 4 seconds, with 5 confirmation blocks instead of 15 blocks as before.
This optimizes user experience, especially in DeFi (DeFi), NFT, and GameFi applications, helping to minimize delays and increase liquidity in the ecosystem.
How has transaction confirmation speed improved after integrating Fast Finality?
According to a report by BNB Chain China in July 2024, the processing speed of DeFi, NFT, and GameFi transactions has increased by over 83% compared to before.
For instance, the number of blocks that need to be confirmed has decreased from 15 to 5, shortening the time from over 10 seconds to under 4 seconds, providing an almost instantaneous experience for users.
How does Fast Finality affect network security and user experience on centralized exchanges?
Cybersecurity is ensured through a consensus mechanism from more than 66% of validators in the BSC system, increasing reliability and minimizing attack risks.
At the same time, fast confirmation speeds help centralized exchanges (CEX) provide near-instant deposit and withdrawal services, improving user experience.
Fast Finality is a significant breakthrough aimed at improving performance and security for the entire BSC ecosystem, committed to meeting the increasing demands of users and developers.
BNB Chain spokesperson, July 2024
How does Fast Finality work and what are the techniques involved on BSC?
Fast Finality reduces the number of blocks required to confirm transactions to just 5 blocks, applying an optimal consensus mechanism among validators to ensure safety without affecting speed.
Detailed technical information is fully published on the official GitHub, demonstrating the transparency and accuracy of the solution.
What are the practical benefits of Fast Finality for the cryptocurrency ecosystem on BSC?
The acceleration of transaction processing contributes to enhanced scalability, attracting more developers and users to the platform.
Applications in DeFi, NFT, and GameFi maximize speed and security, enhancing liquidity and the cryptocurrency market experience.
Comparison table of transaction confirmation times before and after the implementation of Fast Finality on BSC
Feature Before Fast Finality After Fast Finality Number of confirmation blocks 15 blocks 5 blocks Confirmation time (seconds) Over 10 seconds Under 4 seconds Processing speed of DeFi, NFT, GameFi Original Increased by more than 83% Security Guarantee — Consensus from over 66% validators
Frequently Asked Questions
What is Fast Finality? It is a technology that shortens transaction confirmation times on BSC to just 5 blocks, under 4 seconds, enhancing the trading experience. By what percentage has transaction processing speed improved? Fast Finality helps increase the processing speed of DeFi, NFT, and GameFi by more than 83% compared to before. Does Fast Finality affect network security? Security is ensured thanks to the consensus mechanism of more than 66% of validators, reducing attack risks. How does Fast Finality benefit centralized exchanges? It helps optimize deposit and withdrawal times to nearly instantaneous, improving user experience. Where can detailed technical information about Fast Finality be found? Detailed information is provided in the technical documentation on the official BSC GitHub.
Source: https://tintucbitcoin.com/bsc-xac-nhan-giao-dich-nhanh-4-giay/
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