IoTeX has launched its v2.2 hard fork, marking a significant enhancement for decentralized applications. Activated on June 19, 2023, at block height 36,893,881, this upgrade reduces transaction finality to just 2.5 seconds, catering to real-time applications like AI agents and DeFi platforms. It achieves this by halving the block time from 5 seconds and implementing Optimistic Block Minting, part of the Roll-DPoS consensus, allowing for faster block preparation and improved resilience.
Additionally, the upgrade includes a new timestamp-based staking contract, enhancing user experience and compatibility. IoTeX also undertook system-wide upgrades for better security and performance, ensuring it can handle up to 2,000 transactions per second in future upgrades. This milestone establishes IoTeX as the first Layer 1 blockchain to offer such rapid transaction finality without dependence on Layer 2 solutions.
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