• Anatoly Yakovenko is Confident about their capabilities as a rival to Ethereum

Anatoly Yakovenko expressed, cost reduction leads to new disruptive use cases. Suppose the cost per n-generals interaction is 1/100 of CPI in ads, goodbye Google/Facebook.  The next two years are going to be interesting. The fee reduction is coming to Solana in the subsequent couple releases that take advantage of hardware improvements across storage and transactions (thank you, Samsung and AMD). What will a steady clip of cost reduction mean to users and app developers?

The community was asking is really “fee reduction, though”? I mean, I would love it if the Solana blockchain was cheaper than free to use, but I would be interested to hear the economics behind that design decision.

AY:  New computer hardware gets more powerful for the same dollars.  So, the fees to users should get cheaper.

Does it concern you that fees can only be reduced to 0?

It can never be zero since there are always some capacity limits, and if the remaining capacity is reduced by 50%, the fees double until the load backs off. As the hardware gets better, capacity goes up.

Community:  ETH feels so crusty and old after using next-gen chains like Solana.  I’m ready to be done with it.  I’m convinced not a single ‘retail’ person uses ETH. Who in there right goddamn mind would pay even $20 to make a single transaction.

Yeah, and ETH people got too rich to care.

AY:  Being a formidable competitor is the best gift we can give to ETH in return. Solana has an inherent speed advantage, which can’t be caught up to by rivals. As a result, more people understand that Solana might eventually become one in the top 5 crypto market cap over time.

Community:  Will the fee reduction lower the daily voting costs of running a validator node? What specific HW improvements did AMD offer?

AY:  MOAR cores for less $ I don’t want to over promise as folks are still doing the engineering work, but it seems like a 10x reduction is doable. It will vary depending on the complexity of the transaction.

When someone asked when 0.1 speed? AY:  After a ton of engineering, blood, sweat, and tears.

Jeremey Allaire expressed a huge shoutout to the Solana team now with $1B+ USDC in circulation.

Solana community feels that Solana will be the biggest competition to ETH. However, looking at TPS, it looks like SOL already won.  This is great.  Lower the financial barrier to entry for new validators, and increase the size and horsepower of the network.