The Network State Podcast #8 - The Solana Phone
25 snips
Jan 28, 2024 
Anatoly Yakovenko, co-founder of Solana, discusses the creation of the Solana Phone. Topics include the Solana Proof-of-History algorithm, hardware scalability, a self-custody phone, instant bank accounts, challenging Google and Apple, the potential impact of a 1% market share, and building a parallel society.
AI Snips
Chapters
Transcript
Episode notes
Anatoly's Eureka Moment
- Anatoly Yakovenko discovered the concept behind Solana's proof of history in 2017 without prior knowledge of verifiable delay functions.
- He had a Eureka moment about encoding passage of time as data, which led him to start building Solana.
Scaling via Heavy Compute Nodes
- Solana scales by relying on heavy compute nodes and having a global clock using proof of history.
- It supports a single large quorum of about 3000 validators voting every 400 milliseconds for global synchrony.
Self-Custody Cryptography Revolution
- Crypto's revolutionary aspect is consumer self-custody cryptography enabled by private keys.
- It provides a mathematical basis for a stateless society protected from seizure and censorship.