With the recent growth of usage from our partners (i.e. Mirror, Injective), there is an increase in requests that fills up to 80–90% of block’ capacity during peak periods. To solve this issue, we are submitting BandChain Improvement Proposal (BCIP-6) to propose parameter adjustment that will increase Block’s capacity.
The proposed parameter per_validator_request_gas specifies the amount of gas required to process a request on BandChain per each validator that needs to report data.
This proposal reduces per_validator_request_gas from 30000 to 0, decreasing the overall gas used per each request. With each request using less gas, a block that has a gas limit of 8 million can take in more requests, allowing BandChain to process more requests in one block and increase capacity to serve the growing data demand of partners. Specifically, this will increase BandChain capacity to process requests by approximately 25%.
The Outcome of the Proposal
Upon the proposal conclusion on Feb 25th, 2022. There are two possible outcomes:
- If the proposal passes, per_validator_request_gas from 30000 to 0. This will increase BandChain capacity to process requests by approximately 25%.
- If the proposal fails, BandChain will be reaching block capacity and occasionally experience slower transactions time. We will collect feedback to improve upon what is needed.
Delegators Can Vote
Every delegator and token holder on BandChain has voting power based on the tokens that have been staked on the mainnet network. Delegators have 5 possible options to interact with BandChain proposal, including this one, as follows:
- Vote “Yes”, if you agree with the network upgrade
- Vote “No”, if you disagree with the network upgrade
- “No with Veto”, if you strongly disagree with this proposal
- “Abstain”, if you do not intend to vote in favor or against the proposal but accept the result of the vote
- Do not vote (do not submit transaction), if you wish to delegate your voting power to the validator who will vote on your behalf
For any questions, please feel free to raise any questions or concerns regarding the proposal in our Discord group.
How is the Proposal’s Outcome Determined?
After the voting period ends, this proposal will be determined as YES if all of the following conditions are met.
- More than 40% of total bonded tokens vote on this proposal.
- “No” with veto votes must be less than one-third of the total votes.
- “Yes” votes are more than the sum of “No” and “No with Veto” votes.
Effects on End-Users
Faster requests and transactions on-chain. With less request size (by gas used), a block has more free capacity to process more requests and other types of transactions.
About Band Protocol
Band Protocol is a cross-chain data oracle platform with the aspiration to build high-quality suites of web3 development products. The flagship oracle solution aggregates and connects real-world data and APIs to smart contracts, enabling smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle.
More about Band Protocol: https://linktr.ee/bandprotocol