Solana Founder Anatoly Yakovenko Discusses Ethereum Rival Blockchain Outages and Issues
Solana Labs CEO Anatoly Yakovenko addresses 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 that Solana’s goal of settling transactions at an ultra-high rate brought various challenges, particularly as Ethereum’s (ETH) rival began attracting waves of new users.
“This is our biggest challenge, which I may like to have because all these challenges come because we have users. And the chain is daily, if you look at normal transactions from users’ applications – just people using the network – if you look at them, there’s about 30 million transactions a day. Our peak day was 65 million. That’s more than all other chains combined.
Binance Smartchain is a tenth of that. I think Ethereum is a thirtieth. And because of that load, we saw things we didn’t expect, and we were a bit short-sighted about the 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 is growing very, very fast or something we didn’t do well for that load, that validator might shut down, it might break, it might run out of memory for some reason go out . If a third of them do that, then the network is essentially blocked until manual intervention gets it going again. That’s happened a few times.”
The crypto entrepreneur says that different blockchains with different technical architectures and use cases will fail in different ways. While Bitcoin (BTC) can handle block-time lag, Yakovenko says Solana’s fast blocks won’t leave much room to maneuver.
“[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 when there were two hours between blocks in bitcoin. And that’s perfectly fine. If there are two hours between blocks in Solana, the network is dead because it’s designed to create a block every 400 milliseconds…
Once you build a faster network, the failure scenario is different than something like Bitcoin or Ethereum.”
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