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Earn 7.0% APY staking with Solana Compass
Help decentralize and secure the Solana network delegating your stake to us and earn an impressive 7.0% APY yield on your SOL, while supporting us to create new guides and tools.
Breakpoint 2023: Fireside Chat with Anatoly Yakovenko & Logan Jastremski
A discussion about Solana's innovations and significant steps towards a synchronized global network.
The fireside chat at Breakpoint 2023 with Anatoly Yakovenko, co-founder and CEO of Solana Labs, and Logan Jastremski, Managing Partner at Frictionless Capital, presents a deep dive into the vision, technology stack, and upcoming advancements in the Solana ecosystem. Yakovenko discusses the inspirations behind Solana's creation, emphasizing the desire to establish a fair and open smart contract platform synchronized at a global level. He speaks about how Solana's all-to-all communication and consensus mechanisms contribute to this goal, setting Solana apart from other blockchain ecosystems. Moreover, the chat unveils several future enhancements like concurrent leaders, upgrades to the C-level runtime, and the introduction of asynchronous program execution, deemed to significantly improve Solana's performance and developer experience.
Vision and End State of Solana
Yakovenko expresses that Solana was born from the vision of creating a smart contract platform that enforces fairness and operates at the speed physics allows. Its mission is to offer an open developer platform that synchronizes global information rapidly. Solana aims to level the playing field, especially in financial markets where high-speed trading can disadvantage participants who cannot afford low-latency setups. Blockchain technology, with its intrinsic ability to enforce code-defined fairness through Byzantine fault tolerance, presents a solution to this challenge.
Solana's Secret Sauce: All-to-All Communication
All-to-All communication is critical to Solana's infrastructure, addressing the need for a fast propagation of data globally. Yakovenko points out that concentrating on consensus mechanism optimizations alone is insufficient when the real challenge lies in propagating application information swiftly and fairly. With system optimizations, Solana enables cheap and globally synchronous message passing, which simplifies the consensus process and enhances the efficiency and robustness of the network.
Technological Advancements and Roadmap
The conversation proceeds to discuss notable Solana innovations, elaborating on concurrent leaders that help distribute network loads more evenly across global users. Yakovenko provides technical insights into erasure coding, which plays a vital role in guaranteeing data consistency and preventing forking. He also addresses MEV (miner extractable value) and how competition between leaders can reduce its negative impact. Looking ahead, Solana's roadmap features the refinement of its C-level runtime, maximizing parallelism, and allowing for typed system contracts, improving security, and lowering resource requirements.
Facts + Figures
- Solana is designed to synchronize global information as fast as possible and provide an open platform for developers.
- The network utilizes all-to-all communication as its "secret sauce" to quickly propagate data worldwide.
- Solana currently processes more transactions than all EVM networks and layer twos combined.
- New roadmap items include concurrent leaders, enhancements to C-level, and asynchrony in block production.
- Erasure coding is leveraged to prevent forking by ensuring data consistency across the network.
- Solana aims to create a fair environment for transactions, thereby addressing issues related to MEV.
- The team hopes to reduce operational costs significantly, potentially allowing validators to run on lower-cost hardware.
- No core protocol changes are required for Fire Dancer, an alternative Solana client, suggesting the stability of Solana's design.
- Yakovenko predicts that client development will continue to simplify, potentially enabling automated generation of new clients in the future.
- "Blockchain, Byzantine fault tolerance, it can actually enforce fairness through code."
- "If you solve those two problems [...] consensus is trivial to implement."
- "Markets tend to do a really good job when they're competitive at creating fairness."
- "If we made the validator only make that decision to pick forks, it means that execution can run asynchronously to the fork choice."
- "Hardware gets twice as powerful every two years... and human population does not grow that fast."
- "We just built the protocol. If there's so much demand that literally Solana is currently saturated, every validator under the sun is going to order more cores from Amazon."
- "It’s ossified because it’s done, not because we’re scared to make changes."
What is the foundational principle behind Solana?
Solana was established with the principle of creating a fair, open, fast, and synchronized global information and smart contract platform. Its underlying Byzantine fault tolerance mechanism allows it to enforce fairness through code, providing a robust framework for decentralized applications.
How does Solana differ from other blockchains in terms of data propagation?
Unlike other blockchains that may focus primarily on consensus optimizations, Solana has worked to ensure all-to-all communication to rapidly and fairly distribute application information around the world, thereby enhancing the network's effectiveness and accessibility.
What are some of the upcoming technological improvements in Solana?
Solana is working on several enhancements, including the implementation of concurrent leaders for load distribution, upgrades to its C-level runtime for parallelism and efficiency, and asynchrony in program execution for better performance and lower resource usage.
How does Solana plan to tackle the problem of miner extractable value (MEV)?
Solana addresses MEV by introducing competition between block leaders. In this ecosystem, users can choose the most honest or strategically advantageous leader, fostering a market-driven approach to minimize the extraction of MEV.
Will the development and improvement of Solana require massive protocol changes?
As seen with the introduction of Fire Dancer, no core protocol changes are necessary for substantial improvements in Solana. This indicates that Solana's foundation is strong, and enhancements can be made incrementally without overhauling the system.
- Key Points:
- Facts + Figures
- Top quotes
- What is the foundational principle behind Solana?
- How does Solana differ from other blockchains in terms of data propagation?
- What are some of the upcoming technological improvements in Solana?
- How does Solana plan to tackle the problem of miner extractable value (MEV)?
- Will the development and improvement of Solana require massive protocol changes?