The Greatest Solana Explanation of ALL TIME (in Under 10 Minutes)!

We've seen costs drop by like a factor Of 10,000 this is impossible to do on Ethereum really impossible to do even in Layer twos it's going to cost you Hundreds of thousands of dollars on Salana it was literally 1,000 bucks this Is the greatest salana explanation of All time salana does more transactions Per day from applications alone than Ethereum and all the layer twos combined Without any changes to the salana Protocol you can literally scale at 2 Millions of TPS a modern day Hardware if You have a friend that doesn't quite Understand crypto send this to him or Her they will thank you what's unique About salana is that it doesn't have any Layers it doesn't do the separation and It preserves this composability which Makes things cheaper and faster we have A meme called only possible on salana I Think like what's very different about Salana is if you go to like a salana Conference versus an ethereum one There's very few talks about scalability On the salana conference Every founder that you meet is working In a consumer application whether it's Finance they're looking for consumers to Use their application they're not Thinking about how do I scale this or Whether it's like nfts or looking for Traders for creators for whatever as Hardware improves it gets cheaper and

Cheaper to run the network as we Predicted the cost of the hardware drops Roughly every 2 years by 50% I'm not Surprised by that I hope no one else is But like we started salono it cost about $1,100 a server then it went to $800 now It's 350 a month I suspect by next year It's might be under 200 a month per Server you see like announcements like Google Fiber is offering 20 gigabit Networks up and down to the home so like This idea that salana only runs at a Data centers even that's going away Because simply you're getting what People previously believed data center Only speeds you're getting those to the Home and this is just a Relentless March Of hardware and this is really like kind Of the whole point of the way we design The network is that I spend my as a Systems engineer as soon as you build a Software such that it gets faster with Hardware improvements you're done you Don't actually have to worry about that Problem anymore this is what I really Mean about scaling like we're done like We don't actually need to worry about Scaling we worry about reliability and Stuff like this and those are all kind Of optimizations that are happening once Fire denser is out and there's multiple Clients we don't have to do any more Core engineering work I think there's Still improvements that you can do but

Really like the network is done fire Answer is what I'm excited about it's a Even faster Salana salana is already fast it's even Faster than that why it's important that Fire dancer exists is because ethereum Is I think the only smart contract Platform with multiple implementations Of the protocols live so they have four Clients and salana I think is soon to be The next one with more than one so fire Dancer is the second second Implementation of the salana protocol so Um if you're not an engineer Uh how you how I can describe why that's Really really important is the Probability of two different teams Implementing the exact same bug in two Different implementations of the Protocol is virtually zero and that that Means that now we have redundancy we Don't have any single points of failure That's really really critically Important for decentralization no single Points of failure is awesome I think This is like really the the most Important thing that decentralized Permissionless networks provide is that Reliability in terms of like real Hardcore like physical decentralization Salana is kind of uniquely positioned in The industry to be non- charted no layer Tws a single giant Global State machine There's a lot of benefits to that the

Really cool thing that a single giant Global State machine provides is Composability and that is that every Application that exists in one single Environment is kind of like running on a Single computer a world computer so if You were to like let's say if I wanted To trade like 20 cents of dollars for However many euros that is you can Actually trade it across five different Companies at the same time to get the Cheapest possible price and it would Take like one millisecond to do that Trade like 1 second to settle it and the Cost would be like a fraction of a penny And there's no way you can do that in The real world right there's no way You're going to go to like a five Different foreign exchange desks and Tell him I'm trading 20 cents Give me give me your best price and That's because the real world doesn't Have that property of composability Right everything is in separate buckets And separate domains and this is what Happens when you have layer 2s and Sharding and these other Technologies is That they separate the environment so You can no longer combine them so this Is the big advantage of salana and this Is something that we think is really Really important for um the benefits That crypto provides around the world Because once you eliminate that friction

Between companies between Market Market Places Finance becomes cheaper faster Like everything's better and you can see That in like just the technical specs of The network salana does more Transactions per day from applications Alone than ethereum and all the layer 2s Combined so like I think they still have A lot of work to do to catch up on the Technology front both on price Performance and like really everything Else what I hope to see is we see like a Use case like helium which is a $5 data Plan in Miami go Nationwide and that Means like we actually get to Demonstrate to like you know entire United States look here's like a Entirely crypto-based Project it's building something that Everyone can understand like a wireless Carrier and it's doing it with crypto It's doing it faster it's delivering Better data you know and cheaper data to Every sell customer in United States That's my parents can understand that Right like this is what I want to see Succeed and like I want to see more of Those breakout use cases so helium using Compressed nfts to Mint a million nfts To represent their hotpots and connect That with the payments and services of The data rates coming out of their 5G Cells all that is happening on the same Blockchain as usdc transfers that can

Pay for helium data plans so like all This stuff is happening in one world Computer without any friction the reason I talk about helium so much is cuz it's Like an example I can EXP explain to Like my parents a congress person like Somebody that knows nothing about crypto You can tell them cheaper sell your Service and like sign me up this is a Technology that was shipped with a Collaboration between Salon labs Metaplex and helus and a bunch of other Folks in the ecosystem like all the Wallets had to support it so it's kind Of a huge effort driven I think by John Wong from the salana foundation and what Compressed nfts implement the technical Term is stateless accumul So you don't actually have to store the Nft metadata on chain you just store the Root of the Merkel tree and it's super Cheap because of that we've seen costs For nfts drop by like a factor of 10,000 So like there's a company that spun up Out of this called drip house that have Invented a whole new business model Instead of selling nfts they actually Sell a subscription to users who sign up And they get nfts from the cre creators That they follow and they have minted 50 Million nfts I think at the cost of 1,000 bucks so this is impossible to do On ethereum really impossible to do even On layer 2os if you really Min 50

Million nfts and nl2 right now it's Going to cost you hundreds of thousands Of dollars salana was literally 1,000 Bucks this means that like the cost of Digital assets like truly decentralized Digal assets has dropped to the point Where it's as cheap as like AWS database Entries so you can now then give them Out for free you can build whole new Business models to try to attract users That's exciting to see there's a bunch Of companies trying to do this to on Board this is something that like has Been in the makings for a while uh and I Think in the ethereum ecosystem it's Called account abstraction but this is a Native feature that's been part of Salana like the virtual machine uh from Day one and fuse is built by a really Amazing team squads protocol that have Built a formally verified Multisig and that multisig can now Basically act as a wallet and the wallet Is implemented as a smart contract on Salana itself um and that's really Really cool because it allows more Flexible features and protocols to be Added in the wallet that's running on Chain and some of the interesting Properties of of this multisig is that You can set up a wallet without any seed Phrases by using multiple devices Because you have multiple devices you Have redundancy in case you lose one

Device you can reenable it so you're Starting to see a shift in crypto with These new technologies to get away from The old school here's a piece of paper Write down your seed phrase and store it In your sock drawer so we're we're like Finally at the stages of like user Experiences and like Technologies to Kind of make those weird ux problems go Away like that I would have uh I still Can't explain my to my parents how to How to do set up a ledger or something Like that I would say the smart wallet Technology my parents are not going to Understand what they will understand is That you can set up two devices right Their computer and their phone and maybe An iCloud account to now you work as a As a multisig that controls their wallet Without any changes to the salana Protocol you can literally scale at 2 Millions of TPS of modern day Hardware We're not even talking about custom Hardware or anything like that these are Like CPUs that anyone can buy on Amazon And like set up a a machine and and as Servers and ready to go what that's Telling me is that we're basically Already kind of have the technology to Put all of finance and decentralized Rails so it's going to happen it's Inevitable right like it's done right in Terms of like technology we've actually Provably solved all the bottlenecks now

It's just about adoption finding those Use cases finding real world problems That the solv and fixing them and you Know product Market fit catching Lightning in a bottle