Network Deep Dive of Solana

Transcript

next up uh Lily please take it away looking forward to hearing from you my name is Lily I'm the president of the Solana Foundation um and let's see who here is familiar with Solana probably okay great most people have heard of Solana it is a top five protocol um and um so you know everyone's familiar with Bitcoin with ethereum and you know as we all know after the whole 2017 Ico boom and crypto kitties there's a whole plethora of innovation around sort of how do we create a more scalable uh decentralized infrastructure for building these centralized applications on many many approaches lots of different architectures and one of the insights from Salon early on is a kind

of sequential execution kind of framework which is essentially how evm operates is something that's going to be inherently limited and the potential scare the scale that longer term through you know some sort of seven layer cake of l2's L3 sequencers so on and so forth is going to have a number of different challenges and in my opinion I think that's what we're running into right now and so the approach with Solana was okay first principle is the problem here is we believe that I would say we all collectively Believe by Dental being here that that this that sort of decentralized infrastructure should exist and can support not just Israel gold but a flourishing ecosystem of decentralized

applications in the same way that web2 today supports you know literally sort of every applications that are in every part of our lives right um and so to do that okay modems would be a little bit hard to use and that is layer infrastructure got upgraded progressively over time to now always on broadband either not fiber or so on and so forth right so scalability yes is a consideration is a really big deal right biggest factor from preventing markets from leveraging blockchains to power their economies and really sort of support let's call it you know the billion users using blockchain and so instead of sort of going directly to shorting the premise at the time was a single chart right how is that even

possible antoli having worked at Qualcomm which is you know essentially massively paralyzed physical Network being able to to coordinate sort of real-time communication around the world is was kind of the perspective of his inspiration so you know parallel execution is is the name of the game here and so Solana sort of brought a number of Concepts to the table of proof of History right scaling at the sort of top end of hardware and so we're really sort of try to maximize usage of Advanced Hardware kind of on the edge between CPU and GPU and the perspective which is I think one that is still today a little bit sort of unique is that

instead of going directly to l2s and basically building all this infrastructure to build on top of 56k modem we still have a lot of work to do to you know bring bandwidth to decentralized Networks and so the state of Solana today it is the world's most used blockchain and this is even if you take consensus transactions out more daily transactions and all other chains combined and so as an example start Atlas which is a game within Solana just did 800 000 transactions in 24 hours at their launch and I don't believe anyone else can support that and also the most active fee payers of any blockchain right and this is all happening on Single Shard without you know between 2500 and 4000 TPS

fastest blockchain right I still remember the days of Bitcoin you click a button you go refresh your block blockchain Explorer for an hour and Salon has brought that down from hours to minutes to 400 milliseconds and we're continuing to improve on that so that's you know not the end State that's just sort of the state that we're in right now decentralization I think that this has been a critique that I've heard a number of times I would I will say that it's somewhat outdated data from maybe 2021 amongst proof estate chains Salon actually does have the highest sort of Nakamoto coefficient for those of you are not aware of sort of the number of nodes that would need to coordinate maliciously in order to corrupt the

network 33 in this case so you know we've been progressively sort of focused on building a very truly essential sort of Hardware Network around 2000 nodes today Nakamoto coefficient of 34 and within that there's also pretty considerable ASN diversity so it's not like a thousand those nodes are sitting in AWS in Germany or something like that and the thing that we're probably the most proud of is having the number two developer Community after evm right in crypto if you have a network no one uses it is essentially sort of like having a you know empty plot of land rather than a city and what really sort of

gives life to blockchains is the community that comes together and is actively innovating and building on top of the network right there's no network nothing for developers do but if there's no developers there's nothing for anyone else to do right and so you know that in my mind is always the biggest achievement of any uh L1 ecosystem and that's the thing that we're the most proud of about a 2000 act developers evm is around 15 000 between all of the various evm chains out there I think does it really got a lot of critiques for it was chain outages and and so that took about nine to 12 months to put in some pretty uh pretty cool changes at the network level

ripped it ripped and replaced the transport protocol the coolest thing that we actually implemented is localized V markets so as we're all aware as users of mainnet East Main nut is if there's some you know trading Hot Spot happening on let's call it you know swap an active trading day everyone goes from paying two dollars a click to twenty dollars a click right because it's unified State unified demand and with localized fee markets a little bit sort of like uber hot spots right if there's a hot spot around downtown those people get search pricing but everyone else is doing just fine and pays their normal rate and so what that means is that if there's a lot of people competing for an nft drop they might be paying crazy fees but on Solana you know if I'm just trying to pay my friend 10

bucks for coffee only in special Linda's coffee cost 10 bucks then then I can still pay .001 cents for that transaction and it will clear in 400 milliseconds uh quietly now but I think this will be a big deal in the next six to nine months so we partner with jump crypto on something called fire dancer fire dancer is it's a second client for Solana and right now the only other chain that has a second client is eth um and so as I was saying earlier we have around 2500 to 4000 TPS today um in uh in sort of internal tests of fight answer million TPS in the field I

think we can expect about a hundred thousand and so comparatively I mean this is really just sort of Salon is already sort of the most performant chain the only chain out there you click a button something happens you can actually Implement sort of uh uh you know things like on-chain clubs um and uh and so this is you know coming down the pipe in the next year or so and that's going to be really sort of a game changer and I think really just going to put um put you know this sort of network in a different kind of field of performance um so another one that I think is you know might sound a little bit dry but as one of those things in crypto where um sort of seemingly sort of marginal uh or seeming like very detailed

innovations that the protocol layer actually are sort of like the the chaos butterfly wings effect and have a massive sort of impact Downstream something that we launched recently called State compression so essentially what this is is when you mention nft there's a lot of metadata that needs to go along with that and it costs a lot of money to execute those contracts right a lot of money on some chains a little bit less but on Solana initially is about a dollar so we implemented vertical roots and what that means is all the metadata is actually miracleized on chain and therefore not sitting natively on chain and so now we took the cost of minting a million nfts down to 100 bucks that would cost you millions of dollars on mainnet and polygon would probably cost you about 20x that so that's pretty

powerful because what this all means is it's uh it's not just about sort of fast and cheap at the end of the day what that means is this is infrastructure that can take crypto from being in a place of you know imagine Netflix in a world of 56k Internet they're mailing you DVDs back and forth 20 years later when you have proper infrastructure bandwidth then what you have is you have the same company ostensibly but a completely different product building this entire sort of streaming application space and and uh and it's really only the same company and name only right and so that's also sort of what we're trying to enable here with Solana it's not just about fast and cheap it's about things like okay if you can mention million nfts for 100 bucks

now what can you do with nfts if it's so cheap and so accessible then you can actually start to realize things like decentralized identity where nfts should really be sort of your credentials and your uh in aspects of your identity held in your wallet because it's basically infinitesimally sort of cheap and accessible to do so and those are the types of things that you really can't do if it costs a dollar 10 cents and certainly not ten dollars to mend an nft because then you're stuck in a space where nfts have to be pfps and things that inherently sort of are valuable themselves and then lastly another thing that we're really excited about is you know it has been a very high Hardware requirement in order to be running a node thus far and in you know pretty

Advanced Data Centers so the correlated fire dancer is Tiny answer is what we call it like client which means that you can run a light client for Solana on a laptop and so so that's pretty exciting because that starts to provide alternatives to you know up until now the the very high Hardware requirement to be running a Solana node so some other things I'll just go through right that's they instructure stuff I sometimes but I actually think right now some of the most important stuff to do is to be building kind of innovative solutions at the technical layer really just above the validator client and as we look forward and how this has actually flow through into things that

sort of have emotion to them dpin is one right d-pin which is decentralized physical infrastructure networks things like decentralized mapping helium render those are the types of things that are pretty uniquely sort of only available to you on perform a network like Solana today some of these other categories I think fuel will be quite familiar with but I think you know really the way I think about this is in each of these categories you know in order to actually create a user experience which is competitive with what we are so used to in web 2 you just have to have ethernet right and and that's essentially sort of what we've

been trying to work towards and that's something that supports Innovation and creativity and usability in really every application vertical um so some other things you might have heard of Solana phone brands building on Solana but yeah those are some of the latest things happening in Solana and um let me know if you have any questions [Applause]