EVM tech is incapable of handling over 30 tps, which cannot compete with web2 speeds. @Solana's SVM solves this issue.
A thread on how SVM will help onboard the next wave of blockchain users at scale. ππ§΅
2/ Before diving into the solution, it's important to understand the problem.
Ethereum is the biggest smart contracts blockchain, surely validators can add more servers to make Ethereum faster? Right?
Wrong. Think of Ethereum as a queue system with only one teller.
3/ No matter how fast this teller is able to achieve consensus on transactions from validators, there's only so much speed with which he can process the queue
Now this analogy becomes more complicated when you factor for gas fees. Others can pay extra money to cut line.
Introducing Nitro π¦The first Solana scaling solution
Nitro is building an L2 for Solana that combines Solanaβs powerful execution environment and developer community with the thriving Cosmos and IBC ecosystem
A 𧡠on why Solana DeFi users and developers should be excited π
Nitro will serve as the gateway between #Solana and #Cosmos.
In the past, Solidity and EVM have grown to become a development standard across crypto. Nitro is taking the first step in making the Sealevel VM (SVM) a core development standard like the EVM.
Nitro will feature SVM compatibility that enables developers to easily launch their Solana dApps on Nitro and access the broader Cosmos and IBC ecosystem.
Apps built on Nitro can leverage the SVM for high performance while gaining the interoperability that is native to IBC.