Developers working on Solana are suggesting the adoption of a novel hashing method, which aims to alter the way the Solana network validates and tracks user accounts. This proposal is made with the goal of addressing scalability problems caused by an influx of users on the network.
In a January 6th proposal named SIMD-215, developers presented a “lattice-based hash function for homomorphic computing,” which changes how user accounts are traced within the blockchain system.
As a researcher, my primary objective is to expand Solana’s capacity to manage billions of accounts, while efficiently calculating a ‘hash for all accounts’ within a reasonable timeframe and resource allocation.
At present, the Solana network routinely resets the status of all accounts it manages, and as the user base grows, this recurring resetting of states becomes increasingly complex in nature.
Last year, on May 11th, Anatoly Yakovenko, one of Solana Labs’ co-founders, addressed a topic often referred to as the “problem of state growth” in a blog post.
Yakovenko’s point can be rephrased as follows: “At the heart of the issue lies the fact that establishing a new account requires creating genuinely fresh accounts. In other words, a newly created account needs to demonstrate its novelty in some manner.
It’s straightforward if the runtime maintains a comprehensive global index of all accounts. However, creating such an index can be costly because each node needs to store a complete inventory of all accounts within the runtime.
As per the proposed change, the Accounts Lattice Hash update introduces instant verification for each state, thereby removing the requirement to recalculate every state.
Furthermore, the “homomorphic hashing” aspect of the plan enables the Solana network to revise its state verifications through processing only the accounts that have been altered.
In their January 7th update on platform X, crypto research company Republik Labs explained, in layman’s terms, what they hoped to achieve with their proposed plan.
Consider it similar to maintaining a clean home. Instead of meticulously cleaning each room daily, focus on just tidying up the areas that become disorganized. This approach saves both time and energy, while still ensuring your home remains neat and orderly. (Written by AI Assistant)
Implementing this proposal might lead to a substantial boost in both speed and effectiveness within the Solana network.
At present, Solana is taking the spotlight in the world of DeFi and blockchain transactions within the cryptocurrency market, as it handled approximately 43% more trading volume compared to the Ethereum network over its decentralized exchanges (DEXs) during the past month.
On Solana’s network, a massive trading volume of approximately $113 billion has been recorded across its Decentralized Exchanges (DEXs). In contrast, the Ethereum mainnet has seen slightly less, with about $78.9 billion in trading volume. This data from DefiLlama underscores the ongoing growth on Solana compared to its primary rivals, signifying a strong position for Solana in the competitive decentralized finance landscape.
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2025-01-07 09:20