Bankless SVM L2 on Ethereum: Bullish or Bearish SOL? with Neel Somani, Founder, Eclipse
Sep 20, 2023
Neel Somani, the CEO & Co-Founder of Eclipse, dives into the groundbreaking integration of Solana's Virtual Machine into Ethereum through a new Layer 2 solution. He discusses the advantages of multi-threaded execution and competitive dynamics between major blockchains. The conversation highlights challenges in blending the two ecosystems, impacts on transaction costs, and the role of modularity in future blockchain technology. Additionally, he sheds light on Eclipse's innovative framework and its upcoming plays in the Layer 2 landscape.
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SVM Advantages
- The Solana Virtual Machine (SVM) offers parallel transaction processing, unlike the Ethereum Virtual Machine (EVM).
- This allows for greater scalability and cheaper transactions, addressing a key challenge in the Ethereum ecosystem.
SVM Network Effects
- Eclipse leverages the growing network effects of the SVM codebase.
- This is a strategic move to combine the strengths of SVM with the value of the Ethereum ecosystem.
Localized Fee Markets
- Eclipse utilizes localized fee markets, isolating the impact of high-demand applications.
- This prevents negative externalities, where one application's activity affects the entire network.