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toly 
@aeyakovenko
Wartime OSS maintainer. Co-founder of Solana Labs. Follows, retweets, likes are not endorsements. NFA, mostly technical gibberish. Be kind! toly@sollinked.com
toly 🇺🇸’s posts
Solana Labs, a US corp, didn’t have any assets on ftx.com, so we still have tons of runway, and luckily still a small team.
1/ I said this on stage at Breakpoint just a few days ago – the builders on Solana are second to none, and the projects they're building can often only be built on Solana.
. unicorns like are going multichain. It’s bittersweet to watch. It would be awesome for them to 100% focus on . But reality is that these projects want to conquer the world. But so does the community!🧵
Blockchain is web without ad tech. After 30 years of the web, the only business model is ads or threatening your users with ads until they pay you a subscription.
bear markets are the best time to launch. you get to build your community with a bunch of hard core glass eaters
It takes 10 years to build a new OS or database or any complex general purpose platform. Nearly 4 years in
Year is 2035, and 1 billion+ people are actively using blockchain and self custody. We all made it folks. That’s the future I am driving towards.
We are all super lucky that ethereum has amazing founders and a brilliant research community and devs that grind through really hard problems. Without all those folks contributing open source code and research wouldn’t be here.
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Replying to @matthuang
The one comment I'll make is that I feel bad that @solana and other projects are getting hit in this way. They don't deserve it, and if ethereum ends up "winning" through all other blockchains getting kicked off exchanges, that's not an honorable way to win, and in the long term… Show more
The life of an engineer is to always work on stuff thats broken, never on anything that already works.
My parents left the ussr with $50 per person when I was 11, worked every job they could, took out loans so I could go to uiuc, and blessed this nation every day for the opportunity and freedom it gave them. Happy birthday to the greatest nation on earth! 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
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4/ We launched in 2020 after markets crashed and the world went into lockdown – chewing glass is in our DNA, and we'll get through together.
if in 50 years I am using a blockchain and its not solana, I am gonna insta die of shame
In this tweet I will create a new smart contract L1. Everyone that likes should be initialized with 100 coins in state. Anyone can reply to add a transaction to the ledger.
To call the transfer program reply with “transfer X to ‘username’”. Everyone processing the chain should… Show more
🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒🐒… Show more
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BREAKING NEWS: @solana JUST FLIPPED @ethereum IN 24 HOUR SALES VOLUME FOR THE 1ST TIME IN HISTORY.
The cost to run solana is cheaper then all the evm chains combined, and it handles more transactions then all the evm chains combined.
. is the future state of unlimited interactivity – centered in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services, and opportunities. Powered by AI, Solana will connect us all in ways we’re just beginning to imagine.
Solana is built for all2all communication. zkp, rollups, sharding, are not. They are good technologies, but they don’t provide any real time guarantees that information is synchronized around the world. 🧵
Replying to
Runway is in $, ~30 months at current burn. Learned our lessons in 2018
I am really looking forward to defi being re-invented on . I think design wise, we haven't scratched the surface of what order books can do. Why this cycle? because all the yield growth hacks have dried up. It's going to be all about features and PMF.
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BREAKING: @VitalikButerin introduces himself as @aeyakovenko
“Solana is the most scalable blockchain”.
Vitalik loves Solana!
Solana Labs doesn’t have 1000+ people. It didn’t build a wallet, or an infra provider, or a developer suite. This is all built by you. Thank you!
Ethereum is processing the same number of transactions today as a month ago, but the fees are much higher because of a single application and are pricing out all the other users. In my decade+ of working on Operating System kernels, this is called a denial of service bug.
Seems like an iOS supply chain attack. Multiple plausible wallets that only received sol and had no interactions beyond receiving have been affected.
explorer.solana.com/address/5Fh8K2
As well as key that were imported into iOS, and generated externally.
explorer.solana.com/address/Dojowi
Without any exaggeration, @RenderToken's vision is literally bigger than this universe. It's rendering everything you could ever imagine. I am super stoked to have them on , and the timing couldn't be more perfect. With AI, the ability for non technical humans to produce… Show more
fun, aka hard, engineering problems to fix with the solana protocol
1. asynchronous block production - bankless leaders. no need to execute transactions to pack blocks. Cuts latency to send a transaction out, leader can be a separate box focus on making best blocks.
🧵
RPCs slammed with reads, no congestion on chain, no crazy fee spike for users. All on one optimized L1. This is the way.
usdc on is cheaper and faster than bitcoin and lightning and it’s the currency that people want to use globally. Median user confirmation is 1.3s
We are soooo close. If 🔥💃 improves throughput, can cut its block time to 200ms. That might be enough to make the spreads on clobs like open book as tight as Binance. That would be a watershed moment.
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Replying to @7LayerMagik @KaikoData and @skynetcap
The difference is that Binance MMs are willing to quote tighter.
For reference, the bid-ask spread on Openbook for SOL/USD is ~20bps wide + 4 bps fees on both sides (for takers).
On Binance the spread is 5 bps wide + <=10bp fees. Only gets better with the VIP tiers
This wouldn't have happened without . Gonna take 100% credit for shifting multi trillion titans of industry
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if this attack was possible, the attacker would be able to do the same thing every 10 minutes between bitcoin blocks.
I was an 11 year old kid when I arrived to Chicago in April 1992 from what remained of ussr.
Michael Jordan was something out of this world. Kind of blowing my mind that this happened
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Michael Jordan Jumps Into Web3 via Solana App for Athletes
► decrypt.co/88393/michael-
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Congrats ! When was starting and I asked Do if he wanted to partner and help us. Without hesitation or asking for anything in return he said “Hell yea, we like you guys. Let’s build”. UST and Terra where one of the first assets to bridge to 🤙
What’s to prevent Russia from constantly invading all its neighbors with smaller populations?
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10-20 engineers cannot build anything in 6 months. 3-5 engineers max
Very dumb analysis, but kind of interesting. Worlds wealth is 431t, btc is 1 of it. btc uses 1/1000 of the worlds energy, but is 2.3/1000 of the wealth. Surprisingly, BTC 2.3x less than the average energy intensive trillion.
CEXs wouldn't exits as they do today if 's vision was fully realized. Once a state machine that is globally synchronized at the speed of light exists, it is safer and cheaper to use it for execution in traditional finance than private infra. This is the end goal.
99.99% of the time, the folks across ethereum and other communities argue with passion and conviction and have put me in the hot seat on all the right questions and have made me better, and in turn as a whole. Tons of people in crypto are just good people.
being a founder means building with fanatical conviction, through the ups and downs. It can be a lonely experience, try to make friends.
If you are a departing employee, reach out! I would love to find you a home in the ecosystem.
. is the birthplace of xNFTs. team rocked the design and development of the protocol.
I wanted dApps for to adopt the same standard, but we couldn't ship it in time for launch. But that is coming for sure. Once the dApp store is on chain and… Show more
Replying to
It’s cause you didn’t use to scale payments as fast as possible instead of f’ing around with bitcoin lightning
NFTs are sitting on a once in a lifetime opportunity to create a mass market brand or IP. We need projects that are laser focused on that goal.
ELI5 solana congestion.
Blocks aren’t full, wtf do my transactions time out!!?
Gulfstream or solana’s “mempool”, has a bug, bots can propose as many txs as they want, and a block producer has to check all of them before making a block. 🧵
Replying to
It’s a sad state for the industry when on even days that sqlami is down it’s still handling more txs from dapps then all the evm chains and their rollups and L2s combined.
Blurring NFTs that bypass royalties is kind of brilliant. Social convention enforced social convention.
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3/ I'm here building Solana because I get to work on some of the toughest problems in computer science, and because of the community building on the network.
What a huge opportunity 🤯
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Steam has banned all games that utilise blockchain tech, NFTs, or cryptocurrencies from the platform:
nme.com/news/gaming-ne
A bunch of native teams should get together and form a group to review and audit tokenomics and give a community seal of approval. This isn't something that labs or foundation can do
. will switch from SVM to a new LLM based runtime. The LLM was trained on over 160 billion transactions to perfectly predict what any user tx will do. This will dramatically reduce costs for users and node operators.
Do you want to sell ads for the rest of your life, or do you want to change the world?
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“Do you want to sell sugar water for the rest of your life, or do you want to change the world?”
— Steve Jobs
Don't punch down on , its lame. you don't have to be his best friend, but give him some peace. He is just a founder that's grinding like everyone else.
Some cool stats, solana fees have burned about ◎75k, or $11m. There are roughly 2k servers all around the world, which comes to $5,500 per server. Close to market price for decent bare metal hardware per year. Even this early, the network is break even. 🤯
This has been the biggest and most unexpected surprise for me in crypto.
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Eth2 is a wild and crazy design. It hasn’t been tried before, it’s already has and will force a ton of new innovation. I can’t imagine a world where Solana succeeds because eth2 fails.
How to turn around US government on crypto. Call/email/donate to your local congressman. It’s not a ton of work to get a 30 minute 1:1 with them and they are constantly fundraising. It takes less work then complaining all day about the government on CT.
Explain to them that… Show more
I have fanatical conviction that the next cycle will be due to breakout adoption by dapps on solana
Being a founder is constantly oscillating between euphoria and despair