Slot in Ethereum
A 12-second time interval in a proof-of-stake blockchain where a validator can propose a new block of Ethereum, which may remain empty if no block is proposed.
What is a Slot in Ethereum?
In Ethereum, a proof-of-stake (PoS) blockchain now, a slot is a fixed time period, typically lasting 12 seconds. During a slot, a designated validator has the opportunity to propose a new block to be added to the blockchain.
This mechanism is integral to the consensus process, ensuring that blocks are produced in an orderly and predictable manner. If a validator fails to propose a block during their assigned slot—due to being offline or other issues—the slot remains empty, and the blockchain continues to the next slot.
Slots are organized into larger time frames called epochs, with each epoch consisting of 32 slots, totaling 384 seconds (or roughly 6.4 minutes). This structure helps maintain the blockchain’s synchronization and security, as validators are randomly assigned slots to propose blocks, reducing the risk of centralized control. The concept of slots is critical to understanding how PoS systems like Ethereum manage block production and validator responsibilities efficiently.
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International Monetary Fund's recommendations on regulating stablecoins to balance innovation with risks in global finance.
ERC-20
A standard for fungible tokens on Ethereum, enabling interoperability across dApps.
Custody
Secure storage and management of digital assets by qualified third-party institutions, ensuring protection against theft and unauthorized access.
Transaction Fee (DEX)
A transaction fee on a decentralized exchange (DEX) is the cost paid by users to execute trades or provide liquidity, typically comprising trading fees paid to liquidity providers and network fees (gas) paid to blockchain validators.
Swap (DEX)
A swap on a decentralized exchange (DEX) is the direct exchange of one digital asset for another within a liquidity pool, facilitated by automated market maker (AMM) smart contracts without intermediaries.
Testnet
A blockchain network used for testing and development, simulating the main Ethereum network without using real digital assets.