Anatoly Yakovenko, CEO of Solana Labs, is addressing some of the technical difficulties Solana (SOL) has faced over the past year.
In a new interview with Real Vision’s Raoul Pal, Yakovenko says Solana’s goal of processing transactions at a skyrocketing pace presented various challenges, especially as the rival Ethereum (ETH) began attracting waves of new users.
“This is our biggest challenge, which maybe 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 the normal transactions of users’ applications, only of the people using the network, when you look at those, there are about 30 million transactions a day. Our peak day was 65 million. This is more than all the other chains put together.
Binance Smartchain is one-tenth of that. I think Ethereum is a thirtieth. And because of this load, we have seen things we weren’t expecting and have been a little short-sighted in the kind of attacks that people would launch on the network …
I think some people have seen 10 million packets per second sent to a validator. And if there’s a bug in any of those validators where memory grows very, very fast 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, the network is essentially down until a manual intervention resets it. It happened a couple of times ”.
The crypto entrepreneur claims that different blockchains with different technical architectures and use cases will fail in different ways. While Bitcoin (BTC) can handle delays in blocking times, Yakovenko says Solana’s fast blocks won’t allow much room for maneuver.
“[Bitcoin] it is designed to be extremely resilient and some things that are normal for Bitcoin, like when a bunch of Chinese hash power goes out, there have been times when there are two hours between blocks in Bitcoin. And that’s fine. If there are two hours between blocks in Solana, the network is dead because it is designed to create a block every 400 milliseconds …
Once a faster network is created, the case of error is different than on something like Bitcoin or Ethereum. “
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