The latest Theta protocol release version 3.1.0 will soon be released as a significant milestone for usability improvement for the Theta blockchain. The new code will be available on Theta GitHub on July 25, 2021, with the hard fork to 3.1.0 occurring on July 30, 2021. There will be no token swap or wallet changes associated with this hard fork, so no need to move your Theta or TFuel tokens or take any action on your end.
Major changes in Theta 3.1.0 update include:More efficient block proposal protocol
Currently a validator block proposer waits 6 seconds before broadcasting the proposed block to guarantee liveness (i.e. chain progression). During the 6 seconds all the validators mostly sit idle. We designed a new block proposal protocol which eliminates the wait time without affecting liveness guarantees. Potentially the majority of the block time can be allocated for transaction execution, which greatly increases the efficiency and transactional throughput of the blockchain. This is a key enabling factor in high concurrent user video relaying or decentralized exchange, just to name a few use cases. Combined with off-chain micropayment aggregation, this transaction throughput can support 1,000,000+ concurrent users relaying video on Theta Network.
2. Highly optimized blockchain database
With the current implementation, transaction processing can get slower as the database size grows, which will reduce the transaction throughput. We implemented the concept of “rolling database”, which is specifically designed for blockchain state storage. Rolling enables much faster data read/write even when the database size grows very big. The update also introduces more efficient pruning, so disk size consumption will grow slower compared to now given the same amount of transactions per day.
3. Faster snapshot import
With the 3.1.0 update, upon the first launch...