- Cronos EVM v1.4.0 Pallene update significantly boosts transaction speeds, enabling up to 60,000 transactions per second.
- The update introduces Block-STM technology for parallel transaction processing, enhancing network scalability and efficiency.
- Improvements to the Cosmos SDK 0.50 and IBC protocol increase network responsiveness and cross-chain connectivity.
Cronos recently unveiled its latest technological advancement, the Cronos EVM v1.4.0 Pallene update. This upgrade is a milestone for the blockchain platform, significantly increasing its transaction processing speed. By incorporating Block-STM technology, Cronos has enabled its virtual machine to process transactions concurrently within a single block, a feature that escalates its transaction capacity to 60,000 transactions per second.
This enhancement is particularly important as it addresses the increasing demand for high-capacity, responsive blockchain networks capable of managing the diverse and dynamic needs of modern blockchain applications.
Alongside the increase in transaction speed, the Pallene update includes improvements to the Cosmos SDK 0.50, which streamlines block processing and enhances the overall responsiveness of the network. These upgrades facilitate quicker consensus and validation times, crucial for maintaining network integrity and security.
Further, the Pallene update has enhanced the Inter-Blockchain Communication (IBC) protocol, which is vital for seamless interaction and data exchange between different blockchain platforms. This improvement helps Cronos integrate more effectively with other networks, broadening its utility and appeal across the blockchain ecosystem.
“The Pallene upgrade is a defining milestone for Cronos EVM, as it positions the network to meet the scalability demands of next-generation blockchain applications. The blockchain’s virtual machine can now execute up to 60,000 transactions per second in parallel. The next step is to remove any remaining bottlenecks at the networking layer, making Cronos EVM future-proof to support the rapid evolution of AI agents and other emerging use cases.” – Ken Timsit said – Cronos Managing Director
Ken Timsit, the Managing Director of Cronos, commented on the update, noting its significance in scaling the network to meet future demands. He pointed out that the next steps involve refining the network infrastructure to eliminate any bottlenecks that could hinder performance, ensuring that Cronos remains at the forefront of blockchain technology.
This is especially pertinent as the network prepares to support more complex applications, including those driven by artificial intelligence.
The update positions Cronos EVM as a robust platform ready to support emerging technologies such as decentralized finance, web3 gaming, and AI-driven applications. These technologies require a network that can handle high transaction throughput and provide the responsiveness necessary for real-time interactions and decision-making.
Cronos’ focus on scalability and responsiveness is a response to the broader industry trend towards more capable and efficient blockchain networks. By preparing for significant increases in demand and complexity, Cronos aims to lead in the adoption of blockchain technology, particularly in how AI agents are integrated into the web3 space.
