“If Solana Solves These Problems, It Will Achieve Its Goal”
Solana Labs CEO Anatoly Yakovenko said that Solana has faced and overcome many challenges over the past year as it moves towards providing a fast and scalable blockchain.
Yakovenko discussed how the Solana blockchain struggled to maintain uptime, especially in June, but this should be avoided in the future with new developments. He then explained the four biggest forward problems of the blockchain; If he can solve them, Solana will reach his ultimate goal. “We want to synchronize the world at the speed of light,” Yakovenko said in an interview with Austin Federa, communications manager for the Solana Foundation, at Breakpoint in Lisbon.
He said that in June, block times dropped to an average of one second between blocks. While this sounds fast and is faster than blockchains like Bitcoin and Ethereum, it is slow for Solana’s typical performance. This was because the network crashed from time to time while fighting spam on the network. Yakovenko said that having a second client application of the Solana blockchain with a different codebase will help prevent problems on the network. “The probability of the same kind of error occurring in both is probably zero,” he said.
Solana Labs CEO highlighted the difficulty of fees in the network. SOL offers low transaction fees, which can lead to a lot of spam. He said a few projects, like QUIC, which limits bots from spamming the network to 100 gigabytes, have helped avoid these problems. Yakovenko underlined that Solana has three challenging tasks ahead of her.
The first is formal verification, which expresses security guarantees on the network. Second, type-rich bytecode that expresses how different parts of the network talk to each other. Third, there is dynamic pricing for storage, which is a way for validators to manage how large the SOL blockchain will grow.
Yakovenko added that the biggest challenge ahead is how to run multiple block producers simultaneously. If this problem can be resolved, it will be possible for the network to run much faster. Yakovenko also said that he would like to see the block generation process separated from the transaction execution process. This will allow Solana blockchain users to see their transactions processed more quickly.
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