Anatoly Yakovenko is the founder Solana, one of the largest blockchains in the crypto ecosystem. He is a pioneer in the blockchain space, and since the creation of Solana in 2017, he has played a leading role in cryptography.
Apart from founding Solana, Yakovenko is also at the forefront of blockchain innovation. Solana’s idea Web 3.0 phone It is an essential next step in blockchain adoption.
Here is Yakovenko’s story and how he became one of the most important founders of cryptocurrency.
It was Anatoly Yakovenko Born in Moscow In the late seventies and taught computer science at the Moscow Institute of Physics. He graduated from the institute in 2000 and continued to look for work as a software engineer.
A year after he graduated, Yakovenko decided to build his own company. had become Alescere co-founder, VoIP service. The company’s business has been building session initiation protocol (SIP) stacks, real-time transport (RTP) and server components for small businesses.
Three years later, Yakovenko left Alescere and joined Qualcomm. Qualcomm is the world leader in wireless technology innovation, and the company prides itself on pushing boundaries. Qualcomm is in telecoms just like Akescere, so Yakovenko has been doing a lot of the same work.
However, it was at Qualcomm that Yakovenko focused mostly In hard engineering work. He had no co-founder obligations, so he was able to progress very quickly through the company. Three years after joining, he was made a senior engineer, and three years later, he became a staff engineer. By 2016, Yakovenko was already the chief personnel engineer at Qualcomm.
Around 2013, Yakovenko started learning about blockchain technology. It has been early adopter Bitcoin and Ethereum, and watch the industry closely.
However, Yakovenko wanted to do something more. He left Qualcomm in 2016 and tried his hand at various jobs. The first was a software engineer at mesosphere, now known as D2iQ. At Mesosphere, Yakovenko worked on building distributed operating systems. The second job he tried his hand at was also software engineering, but this time in dropbox.
After leaving Dropbox, Yakovenko decided to take the plunge and focus all of his time on building Solana.
In 2017, Yakovenko published Solana magazine White papers They announced Solana to the world. Solana was not just an ordinary blockchain; It will be different and operate with a new consensus mechanism.
Unlike other blockchains, Solana Chain is optimized to be as fast as any payment system. Ethereum and Bitcoin were (and are) the two prominent block chains in 2017, and they both had serious problems. They were simply too slow.
bitcoin, for example, confirming a single transaction can take hours. On the other hand, Ethereum currently deals with about ten transactions per second. This is very close to payment systems such as visa processing.
Yakovenko’s goal with Solana was to create a blockchain that could rival these traditional payment processors in terms of speed.
However, he discovered that this was impossible with traditional consensus mechanisms. both of them Proof of stake And Proof of work It took a lot of time and effort.
This is why he decided to create another consensus mechanism to speed up transactions. This mechanism was a proof of date and will be used with the proof of stake system.
The Proof-of-History (PoH) mechanism was a technical success, and when Solana went online on March 16, 2020, it posted fast transaction times. Once Solana is launched, its speed reaches around 50,000 transactions per second.
Proof of history is one of the largest and largest Impressive technological leaps in blockchain technology.
Proof-of-history networks use the passage of time to reach consensus on certain transactions. The mechanism measures the time through events on the blockchain and then uses that time to verify exactly when certain transactions occurred. This verification makes validating transactions across the blockchain faster.
Solana has grown exponentially in recent years. Just a year after hitting the internet, Solana had created enough buzz in the market for the project. For this reason it can complete the Financing of $314 million Tour in 2021 by Andreessen Horowitz.
after six months, Melania Trump It released its first NFT, and the asset sold for just one SOL. In 2022, A.J lawsuit Solana was accused of selling unregistered securities. The lawsuit alleged that Solana was not forthcoming about his token-burning efforts and that Yakovenko misled investors about the total circulating supply of SOL tokens.
Solana has also been experiencing breakouts lately. in August 2022More than 9,000 Solana wallets have been hacked. About $4.1 million was stolen from the victims in this hack.
Aside from breakouts, Solana also suffers from Network outage. This means that there have been long periods when the Solana network was not connected at all.
the Firstly Of these outages occurred in 2021 and lasted approximately 24 hours. The next outage was in May of same year It lasted for seven hours. Since then, Solana has fallen prey to regular network outages.
In November 2022, Solana Lost More than a third of its value in one day. The massive sell-off was due to the FTX debacle and the fact that FTX and Alameda held close to a billion in Solana Tokens.
Despite Solana’s troubles, Yakovenko remains determined to lead the company. The main project Solana seems to be working on right now is the Web 3.0 phone. The phone, already called the Saga Phone, will try to disrupt the business models of companies like Google and Apple.
According to Yakovenkothey are “moonshots”, but still “cheap enough to try”.
He’s also made it clear that Solana doesn’t expect the Saga project to immediately disrupt cellphones. He said he’d be perfectly fine with only 25,000 to 50,000 units sold.
Anatoly Yakovenko is one of the most important innovators in the crypto ecosystem, and it is important to know more about him.