Arbitrum to Vote on Timeboost: A New Transaction Ordering Policy
CryptoNewsTerminal Staff12 Sep, 2024
Arbitrum to Vote on Timeboost: A New Transaction Ordering Policy
Arbitrum is a Layer 2 scaling solution for Ethereum that uses optimistic rollups to process transactions off-chain. Recently, Arbitrum has started a vote on a new transaction ordering policy called Timeboost. Currently, Arbitrum transactions are included on a first-come, first-served basis. With Timeboost, users can pay to have their transactions included more quickly by participating in an auction. Auctions will have a minimum price that increases with network congestion. The auction winner will have their transaction included in the next block. The revenue from the auction will be directed to the Arbitrum DAO treasury. The treasury will use the revenue to fund development and operations. If the proposal passes, there will be a public testnet to test the feature.
