Building the first Real-Time Blockchain, and what you can do with it

Transcript

[Music] am I right okay cool oh hey guys um uh okay it's the time okay cool oh that's my actually I don't want to follow on my slide so maybe I just do something else okay this is great uh cool so how is everyone's

conference okay can't way to finish how many people here from Czech okay I've I've have to say this is my second time in PR and I really like it I think last time I was staying in the touristy area and all I saw was Chinese tourists so I thought I came to Europe but all I saw was my own people uh but this time I actually saw diverse set of Builders and found the river to be uh very pleasant walks in the rain yesterday for two hours uh saw some castles so really love your country also what surprised me the most is you guys have actually really good Chinese food I think Sabrina would disagree with me uh but I went to this restaurant kab Basu

last night anyone has been there there okay so if you want like spicy Chinese food I think it it was pretty good um anyway so uh my name is Shu ya Shu K I join uh I joined crypto in 2017 uh with consensus so the company that buil metamask infura and uh Lena which is our evm how many people here uses metamask okay does it suck yeah okay so um I was leading uh Global business development at consensus for six years so I look young but I'm actually really

old um so when I was at consensus right I was doing business development for metamask and we always get question from users uh I don't know how many people here submit a tickets but we actually run a pretty good customer service for manam musk so people always sub me ticket something like you know I like lost my seat phrase which happens a lot but also sometimes it's like my transaction doesn't go through what's happening so my experience was like they used to complain to metamask and metamask Tred to troubleshoot and turned out to be a problem for infura right infura which is RPC uh middleware and if you're like no it's not my [ __ ] problem it's the Chain's problem so we had to go to the chain what happened is a polygon is

[ __ ] so so my experience with crypto has always been the user complain and go go to the middleware and then at the end it's always a Chain's fault and this is why I think as for ethereum as a community we still have un solve the chain issue and this is what bring me to um mega East uh which is a new ethereum layer to that is actually secretly secretly the real salana in fact I always tell people we are salana salana because salana explor the physical limits of machines but we have [ __ ] centralized sequencer so we really reaching the physical limit of a machine while still remaining the balance of the ethereum security and

decentralization so that's a nutshell uh Mega uh anyone came here knowing Mega already oh I know oh wait what do you know about Mega sir it's Prett optimized machine yeah which basically like some of the steps which are like in the B are like not used there's like a lot of optimization yeah all I heard was optimizations which is good we have a lot of optimizations but um allow me to go back to why etherum layer 2 is a perfect Vue to optimize so I don't assume everyone here is Maxi I mean we all use sonana I made money from viff I hope you did too but

the problem with layer one is you can never scale as a layer one right the issue is layer one always has has one issue which is called the stranglers problem anyone here knows a stranglers problem all right allow me to explain because I didn't know this before but my co-founders who are PhD from uh Stanford and MIT they taught me so the strangles problem is actually very common in distributed Network so when you're layer one your node has to do three things at the same time consensus execution data availability so the when the node has to do three things at the same time your performance is dependent on the lowest performing

note that's why a layer one can never scale because you're trying to do too many things at the same time so imagine you have a race with a bunch of rabbits so Mega is our uh our uh our um meme is a rabbit because my co-founder Lei who uh one time it uh he really likes rabbit so he he literally goes to this parking slot in IM might and he just like feeds uh rabbits uh so we feel like we have to adopt a rabbit as a as a culture for for our team so suppose you have a race right you have a bunch of rabbits and all the rabbits is hitting the Finishing Line if you're layer one your transaction cannot process unless all the rabbits finish the

race and that means the slowest rabbit right maybe due to many reasons it's finishing very late everybody else has weight and that's when you have strangles problem that's why you have repeatable work and that's why layer one can never scale so anyone who build a layer one I think they just want to make money because otherwise like you should build a layer too if you actually want to build something performance so now layer one cannot scale so I'm sorry to anyone who here invest in another layer one uh because it's not going to work so why layer to work right and this is the magic of Mega E we are using this technology called node specialization what does it mean recall

in layer one your node has to do three things at the same time as a layer two voila every Noe is differen shate so each Noe can specialize in one thing so we have a no that specializes in sequencing and we optimize the [ __ ] hell out of it by a bunch of things like paralyzation um in memory compute we roll the whole state tree and you have one Noe for consensus which can be either optimistic or zero knowledge proof and then you have one note for data availability so when you have node specialization your performance is not depending on the slowest moving node because each node is optimized and no

matter how slow the RAB what you're are doing is you Empower each rabbit to run at its fastest and you're not bottleneck by how many how other the rabbits across a Finishing Line together so each rabbit can cross its own Finish Line and your network still works this is the power of Mega E so if there's one thing you want to take away is Mega E out salana salana and the reason Mega E out salana salana is because we have no specialization so when I was uh coming for East prog um the organizer asked me like oh like which stage do you want to be like you should be on infrastructure stage I was like oh my God I'm so tired

of infrastructure like everyone is building infrastructure I don't know it's just like everyone's kissing ef's ass trying to get advisory share everyone is building decentralized sequencer but I mean honestly as a layer too you're supposed to trust operator like why do you want to decentralized layer too you shouldn't you should trust ethereum main night right uh as a way for security and decentralization so I chose this stage because I think the reason we built Mega E is to actually Empower DBS how many of you guys are building a dab here oh I'm surprised there quite a lot um cuz I think ethereum really faces the problem

isn't to build a better protocol it's actually build a protocol allows more people like you guys to build innovative solutions so now with Mega E via our node specialization we can achieve a 100,000 TPS and some millisecond latency so what does it mean right salana Max TPS is 4,000 base I think a Max was 140 you're you're shaking your head okay tell me Habibi it can be EAS like 8000 so but you have devop the hardware yeah like the hardware is pretty good yes so I think at the end of the year salana is going to have a a uh

new upgrade right with fire downs and all of that let's say 10K Salan is 10K Monet is 10K real TPS but with mega is optimization no specialization we can get 100K and especially with the latency right we achieve some millisecond latency because we are having a centralized sequencer centralization is good that's how we out salana salana and for reference Salon has 400 millisecond sequence uh latency correct for a block yeah yes um arbit Trum actually has has 265 milliseconds it's actually pretty good I don't know why they don't talk about it enough uh we have S millisec latency what does it mean it means like it gives

you the same experience as web 2 so when we are talking about Mega ecosystem and the type of deps and deps we want to attract we're actually attracting people who have built for internet skill I'll give you an example uh we've been running incubation program in Berlin last uh month I literally rented a hotel in Berlin and then I flew all potential dab developers to Berlin so we work during the day we go to Club at night my favorite experiences is I got rejected by bang and cisus and a bunch of others I guess I'm just like not that cool um so we put everybody together and most of our deaths are actually not just if your typical evm uh devs right a lot of our

devs come from like Google and Amazon and the only reason they're attracted Mega is because for the first time they can build adapt as if they're building in web to because of our scalability and that's something we're truly unlock so now I welcome you to think about some use cases that's only possible on Mega E so the usual defi I'm interested but I think you maybe got like 5x Improvement not a huge Improvement so Dex Mega East is a combination of amm and Club very easily club actually didn't work in salana prove me if I were wrong and are pers fully onchain perss and that's not an app chain app chain is a fake thesis and you can fight with me after this this

conversation but think about lending protocol right you can because our chain is so fast 100,000 TPS and some millisecond latency you can actually have Micro liquidation so you actually don't have bad debt on a landing protocol you can have real-time prediction market right think about watching the TV show love Islands I don't know anyone watch Love Island maybe it's American reference anyone watch Love Island okay what's a popular TV show that's very junky in check involves a lot of drama God you guys don't do this friends FR do do I mean you came from the 1990s I feel like

know uh but but right think about uh you're watching a live reality TV show and you can like B on things which do FR real time so um and then um think about a launch a launch P right like sorry I think about launch you can not only like long uh mcoin you can also short a mcoin and the liquidation just works very differently right think about having a consumer a fully onchain autonomous World um anyone here is familiar with autonomous World group I think they're like the coolest actually uh crypto consumer developers uh I I actually got to learn them because uh I

mean now they're building a mega East so we have got this team um they were Paradigm of fellows Paradigm like has been trying to chase them to give them money they're like [ __ ] this VCS I don't know maybe they VCS in the audience [ __ ] this VCS we just want to build something good and they were trying to build on optimism it didn't work but they're building like fully onchain Minecraft I've never played Minecraft cuz I'm Chinese my family you know forbade me from playing games but now I have to because it's part of my work uh and I'm learning how to play play Minecraft right and the beautiful thing about fully unch Minecraft is every block start have economic value right D5 summer used to work on just a decks imagine D summer Works in a

Minecraft imagine like you have a castle with your gold and if you don't protect it someone else is going to rate it and in order to prevent to keep it safe you had to buy additional ether buy additional I don't know slave or guard to to protect it right so suddenly you're bringing everything onchain based on the physical limits like to me that is where the next def5 um summer I don't know is it summer now winter should happen right but for autonomous World it cannot happen on any other chain like the guy tried to build on optimism arbitrum just doesn't work it can only be built on Mega E and these are the depths I'm trying to work with how much time do I have okay so um lastly in terms of culture right

I've been in ethereum since 2017 did everything I think etherum face is a problem like you can say vitalic always says oh it's like flourishes because a thousand flowers is blooming sometimes I think it's a FL it's going to die because death by a thousand cut right and the Thousand are the rollups um what we are here to do is we are really performance- driven everything we do from a design to community is actually think about bringing real consumers like your typical Solana people who are pumping well trading MIM coins and getting rocked right but these people is actually the people who going

to adopt crypto it's not everybody who sit here like I mean I think we're great we're talking about research and all of that but we have to have a team representing e that's actually user focus and user driven and that's really what drives the mega Team every day we think about how to optimize the execution layer we think about how to appear uh how to build depths that's consumer facing and how to bring this like user Focus culture to ethereum so I think that's it any questions so I didn't use any of my Sid just I'm also drinking beer so any question

hi thank you for the talk I want to ask what are the tradeoffs like uh you mentioned the centralization that it's good but there must be some some trade-offs that you are aware yeah yeah we're very aware of trade-off that's why we're saying we're performance fast right um everything is a trade-off between performance and decentralization but the trade-off is not a straight line it's actually parental efficient we think we sit at the most parental efficient curve because only by being a layer to can you have performance while still have the ethereum security because you can always have Force exit right when you have a

transaction that can't go through Layer Two you can force accit to layer one the tradeoff here we're making is the true censorship resistance the true decentralization but that's not equal to security we have the ethereum security we don't have the ethereum sensitive resistance but then as a layer too you're not supposed to have ethereum decentralization you're supposed to trust operator and be performance driven so yes we're taking the trade-off in fully decentralization but we are sacrificing a little bit decentralization for a lot performance I give you a counter example which is monad most people compare us with monad because they're like meet curving us as a parallel evm please don't meet kvases parallel evm or the real salana they're

like oh God you doing like Lon ethereum just not true and Monet is mid curving it because by being a layer one they can never achieve the performance Mega is does right Monet is always 10K TPS why Strangler problem their node has to do three things at the same time but they cannot be as decentralized as etherum May either so they neither get performance nor do they get decentralization so they're basically mid curving it so I'd like to come monad a mid curve parallel evm so that was was our trade-off thank you anything

else but yeah please follow us on Discord we're um well we raised $20 million from some evil VCS but we're going to spend all of that money to uh to developers if you're a builder please come talk to me if you're a protocol engineer don't okay we're good