Bitcoin Core has announced plans for a hardfork upgrade to one minute blocks in a bid to improve transaction speed by lowering confirmation time to 1 minute per block. The team took to their official twitter account to make the announcement:
The Upgrade is expected to come with other fixes and new features which include:
•Hardfork at block height 588672 (approximately 18th August)
* 1min block and 1440 blocks daily
* Block reward of 1.25 coins to maintain 1880 coins daily
• Upgraded validation BlockSubsidy mechanism in dealing with the next and all subsequent halvings on the original schedule as per 10-min blocks.
* Next halving scheduled for block 1001952.
* All subsequent halving with occur every 2,100,000 blocks post 1001952
Other features include creation of new testnet, changes to the DAA e.t.c