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Blockchain

Solana Transactions Processed 1 Day “X10 Binance Smartchain, X30 Ethereum”

September 5, 2022 - Around 3 mins mins to read
Solana Labs CEO Anatoly Yakovenko is addressing some of the technical difficulties Solana has experienced over the past year dealing with a massive daily volume of transactions. Especially that is more and more focused when The Merge is approaching, creating a wave of user attraction for rival Ethereum.
Solana

Yakovenko asserts in a recent interview with Raoul Pal of Real Vision that Solana’s goal to process transactions at an extremely rapid pace faced a number of difficulties, particularly once the Ethereum (ETH) rival started luring waves of new users.

“This is our biggest challenge, which is maybe one that I like to have because all these challenges are coming because we have users. And the chain is, on a daily basis, when you look at normal transactions from applications from users – just from people using the network – when you look at those, there’s about 30 million transactions per day. Our peak day was 65 million. That’s more than all the other chains combined.

Binance Smartchain is one-tenth of that. I think Ethereum is one-thirtieth. And because of this load, we’ve seen things that we didn’t expect, and we were a bit short-sighted in the kinds of attacks people would throw at the network…

I think some people have seen 10 million packets per second being submitted to a validator. And if there’s a bug in any one of those validators where memory grows really, really quickly or something we didn’t do well for that load, that validator could shut down, it could break, it could run out of memory, for whatever reason. If a third of them do that, then the network is basically stalled until some manual intervention brings it back up. That has happened a couple of times.”

CEO Anatoly Yakovenko said In a new interview with Real Vision’s Raoul Pal
solana

According to Yakovenko, many blockchains with various technological structures and use cases would fail in various ways. While Bitcoin’s (BTC) block times can be delayed, according to Yakovenko, Solana’s quick blocks won’t provide users much wiggle room.

“Bitcoin is designed to be extremely resilient, and some things that are normal for Bitcoin, like when a bunch of Chinese hash power shut down, there were times where there are two hours between blocks in Bitcoin. And that’s totally fine. If there’s two hours between blocks in Solana, the network’s dead because it’s designed to make a block every 400 milliseconds…

Once you make a faster network, the failure case is different than one on something like Bitcoin or Ethereum.”

He said

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Blockchain

Solana Transactions Processed 1 Day “X10 Binance Smartchain, X30 Ethereum”

Solana Labs CEO Anatoly Yakovenko is addressing some of the technical difficulties Solana has experienced over the past year dealing with a massive daily volume of transactions. Especially that is more and more focused when The Merge is approaching, creating a wave of user attraction for rival Ethereum.
Solana

Yakovenko asserts in a recent interview with Raoul Pal of Real Vision that Solana’s goal to process transactions at an extremely rapid pace faced a number of difficulties, particularly once the Ethereum (ETH) rival started luring waves of new users.

“This is our biggest challenge, which is maybe one that I like to have because all these challenges are coming because we have users. And the chain is, on a daily basis, when you look at normal transactions from applications from users – just from people using the network – when you look at those, there’s about 30 million transactions per day. Our peak day was 65 million. That’s more than all the other chains combined.

Binance Smartchain is one-tenth of that. I think Ethereum is one-thirtieth. And because of this load, we’ve seen things that we didn’t expect, and we were a bit short-sighted in the kinds of attacks people would throw at the network…

I think some people have seen 10 million packets per second being submitted to a validator. And if there’s a bug in any one of those validators where memory grows really, really quickly or something we didn’t do well for that load, that validator could shut down, it could break, it could run out of memory, for whatever reason. If a third of them do that, then the network is basically stalled until some manual intervention brings it back up. That has happened a couple of times.”

CEO Anatoly Yakovenko said In a new interview with Real Vision’s Raoul Pal
solana

According to Yakovenko, many blockchains with various technological structures and use cases would fail in various ways. While Bitcoin’s (BTC) block times can be delayed, according to Yakovenko, Solana’s quick blocks won’t provide users much wiggle room.

“Bitcoin is designed to be extremely resilient, and some things that are normal for Bitcoin, like when a bunch of Chinese hash power shut down, there were times where there are two hours between blocks in Bitcoin. And that’s totally fine. If there’s two hours between blocks in Solana, the network’s dead because it’s designed to make a block every 400 milliseconds…

Once you make a faster network, the failure case is different than one on something like Bitcoin or Ethereum.”

He said

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

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