Ethereum Institutional Backs Block Time Reduction Amid Growing Competition
Ethereum Institutional, a non-profit organization, has signaled its support for reducing Ethereum block times to address growing competition from other networks. According to Ethlabs, which published an article quoting 20 DeFi founders in favor of EIP-8198, also known as 'Quick Slots,' the goal is to initially reduce Ethereum block times to 10 seconds from 12 seconds.
Other blockchain networks are also working on similar initiatives. Zcash, for instance, recently saw a majority of its token holders back cutting the network's target block time to 25 seconds from 75 seconds. Solana reduced its slot time from 400 milliseconds to 350ms in August, and plans to further reduce it to 200ms.
EIP-8198 was proposed for inclusion in the Hegotá upgrade at the Ethereum core developers meeting on Aug. 6. Ethlabs is merging the proposal's specifications with the main codebase and investigating potential downstream dependencies to help it 'meaningfully enter Hegotá's scope.'