pod blog alert! Transactions can be fast - really fast – if you don't require consensus. But how do you build a fee market, aka gas pricing, without blocks or consensus? ⛽️ Fee markets ensure that the users pay the network fairly and the network can't be DOSed. Existing solutions - such as EIP1559 - require consensus on the congestion of the last block to update the gas price accordingly. Consensus-less networks, like pod, don't have this luxury! pod's answer - the heartbeat construction! Time is divided into epochs. Every epoch, validators broadcast their local gas price estimate based on the last epoch's traffic - heartbeats. (My favorite part - the median trick) Validators use the median of the lowest 2f + 1 values received as the current gas price; conversely, users take the median of the highest 2f + 1 values and use it as a gas price for all transactions in the epoch. The median trick ensures that irrespective of the heartbeats provided by the 1/3 malicious validators, all honest validators will accept the transactions by an honest user. Check out the complete blog link below 👇

Amazing work by @liobaheimbach, @giorgos_tsimos, and @zetavar1!