Solana Founder Anatoly Yakovenko Addresses Ethereum Rivals Blockchain Outages and Issues
Solana Labs CEO Anatoly Yakovenko addresses some of the technical difficulties that Solana (SOL) experienced over the past year.
In a new interview with Real Vision’s Raoul Pal, Yakovenko says that Solana’s goal of processing transactions at an ultra-high speed presented various challenges, especially as competitor Ethereum (ETH) began to attract waves of new users.
“This is our biggest challenge, which is maybe one that I like to have because all these challenges come 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 these, it’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 a tenth of that. I think Ethereum is one thirtieth. And because of this strain, we’ve seen things we didn’t expect, and we were a little short-sighted in what kind of attacks people would throw at the network…
I think some people have seen 10 million packets per second being sent to a validator. And if there’s a bug in one of those validators where the memory grows very, very quickly or something we didn’t do well for that load, that validator can shut down, it can break, it can run out of memory, for whatever reason . If a third of them do, the network is basically stopped until some manual intervention brings it back up. It’s happened a couple of times.”
The crypto founder says that different blockchains with different technical architectures and use cases will fail in different ways. While Bitcoin (BTC) can handle block time delays, Yakovenko says Solana’s fast blocks won’t allow 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 was shut down, there were times where there are two hours between blocks in Bitcoin. And that’s okay. If there are two hours between blocks in Solana, the network is dead because it is designed to create a block every 400 milliseconds…
When you create a faster network, the failure case is different than on something like Bitcoin or Ethereum.”
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Featured image: Shutterstock/Sergey Nivens
