> For the complete documentation index, see [llms.txt](https://veles-carbon-credits.gitbook.io/veles-carbon-credits-pallet/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://veles-carbon-credits.gitbook.io/veles-carbon-credits-pallet/pallet-entities-and-functionalities/functionalities/authority-exclusive-functionalities/update-time-value.md).

# Update time value

As the pallet contains certain functionalities which are executed independently on a timed basis, a authority account user can change the specific time values for these events. The available time values as well as their default values are as provided:

### Current time values:

| Name                    | Description                                                                                                                      | Default value (in blocks)                               |
| ----------------------- | -------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------- |
| number of blocks yearly | The number of blocks that are minted within a year on the network.                                                               | 5,256,000                                               |
| pallet base time        | The start time of the pallet. **Note**: This is the only time value that can't be updated by hand as this is done automatically. | <p>0</p><p>(will be updated on the first new block)</p> |
| penalty timeout         | The time which needs to elapse in order for a penalty level to decrease.                                                         | 446,400                                                 |
| voting timeout          | The time which needs to elapse in order for a vote to close (i.e. proposal, claim, etc.).                                        | 100,800                                                 |
| sales timeout           | The time which needs to elapse before a sale order isn't closed automatically.                                                   | 100,800                                                 |

### Note

All of the default time values (in blocks) have been calculated on the presumption that the finalization time of a block on the network is 6 seconds. The finalization time can be set during the configuration phase of the pallet.

If an authority account wishes to change a certain time value he/she can do so using the `update_time_value(time_type, new_time_value)`. When calling the function the user needs to specify the exact time that he/she wished to update as well as the new time value. It is worth mentioning that the new time value can't be 0, and that the pallet base time can't be updated via this manner.