{"id":"L0zcTm937Rk","title":"[REDACTED] 2024 | Bowen Wang - Core Protocol, Chain Signature Tech, and Omnibridge","description":"Bowen Wang on the latest at NEAR One. \n\nTakeaways\n• NEAR’s Vision for Scalability and Speed: NEAR aims to support billions of users and AI agents by scaling efficiently through a unique approach to blockchain sharding. This structure allows NEAR to be fast, affordable, and scalable without requiring validators to track every shard.\n\n• Enhanced Sharding with Nightshade 2.0: The new Nightshade 2.0 upgrade introduces state sharding and dynamic shard scaling, improving speed, decentralization, and the ability to handle more validators while enabling transaction processing to scale dynamically based on network demand.\n\n• Dynamic Resharding: NEAR plans to implement dynamic resharding, where the network automatically adjusts shard numbers based on transaction load, further improving efficiency and helping NEAR reach new scalability limits, potentially supporting millions of transactions per second.\n\n• Separation of Consensus and Execution: NEAR’s approach to separating consensus and execution allows for faster block production and better throughput. This results in reduced transaction wait times and allows long-running transactions that span multiple blocks, ideal for complex smart contracts and large-scale applications.\n\n• Future-Proofing with Faster, Flexible Transaction Processing: The system’s design allows for quicker confirmation times and supports both rapid transactions and long-running processes. This flexibility opens up possibilities for various applications, from quick DeFi swaps to computationally intensive tasks like executing 30 million EVM gas transactions.\n\nNEAR is the Blockchain for AI\nWebsite: https://near.org/\nNEAR AI: https://near.ai/\nIntents: https://near.org/intents\nChain Abstraction: https://www.proximity.dev/\nSharding: https://nearone.org/\n\nFor the devs\nGitHub: https://github.com/near \nDev Docs: https://docs.near.org/\nDevhub: https://devhub.near.page/ @NEARDevHub\n\nConnect with socials\nTwitter:   / nearprotocol  \nBlog: https://near.org/blog/\nMedium:   / nearprotocol  \n#NEAR #nearprotocol #nearai","channel_name":"NEAR Protocol","published_at":"2024-11-11T00:00:00.000Z","thumbnail_url":"https://img.youtube.com/vi/L0zcTm937Rk/hqdefault.jpg","transcript_text":"hey everyone um how you guys doing yeah so you have heard a lot of very exciting uh new stuff from the uh previous amazing speakers and um I'm going to talk about something that's uh already existent but hopefully uh equally exciting uh this is how we build the most scalable blockchain so from the very beginning uh near star's vision of building a fast cheap uh protocol that can scale to meet the needs of billions of users and now also AI agents and the primary way we achieve this is through blockchain charting uh so blockchain charting is basically this uh uh scaling approach that divide the global state of blockchain into Shard States so that no validators in the network need to track the state uh of all the shards and as a result the network can scale which the number of shs uh it has oh sorry so uh back in 2019 we came up with this uh nce design uh for completely started blockchain and before that uh all the prior art on blockchain Shing pretty much uh is what we show on the left hand side uh which is that uh you have one Beacon chain and for each Shard you have a Shard chain and there is some complex orchestration mechanism so that allows you to communicate between different shards uh but it's actually very difficult to implement because uh when you have one blockchain per Shard then it can have its own Forks when you want to communicate between two shards you can you need to think about which Fork uh it's coming from and which Fork it lands on and what happens if it gets reworked uh all of those problems do have some solutions uh but it requires uh very complex Machinery to make it work uh and one of the key Innovations we did uh with nade is that we say well instead of having that complexity how about we just have one chain that rules them all uh so this one chain that has blocks that contains chunks which are shart blocks from each chart and this greatly simplifies the design and this is what we did U Back In 2019 the first uh version of near white paper uh it's designed for complete shed blockchain and has uh this asynchronous execution environment uh if you want to communicate between uh two different shs or doing cross country call what happens is that uh it first gets executed on the source chart and a receipt would be be generated and sent to the destination sh uh and the security relies on uh fraud proofs and this is how you guarantee that uh no nodes need to track All The Shard was still maintaining the security of the network now 5 years later we made a lot of progress on implementing the original Nate Vision uh but over the past year also we did a major overhaul uh to the nitrate design by introducing stus validation uh and this is basically the foundation for the nitrate 2.0 that uh we introduced uh this year uh the reason for introducing St validation is threefold so one uh is because uh in practice is actually very difficult uh to implement fraud proofs and to test them make sure that they're uh bug free and there is a very good reason why in the optimistic rollup board people still still struggling with deploying them uh into production uh and two is that it actually significantly improve the single sh performance uh this is because before uh the biggest Bon we have on single Shar performance was State access and the reason why that was problem was mostly because you have to do a lot of disc reads and that really slow thingss down uh so with this design we actually make sure that the state is entirely held in memory uh we achieve this uh by having this two-fold approach where on the chunk producer side because it can we only need a few of them uh they can run more expensive hardware and as result they can hold the state um of an entire shard in memory uh and produce chunks execute chunks um by having the state in memory and then on the Val side because um they receive state witness they don't actually keep any state locally uh it's naturally the case that the state is held in memory when the execute the chunks uh and as a result because uh uh the validators don't need to hold any State uh locally uh they don't need to run as expensive Hardware uh in fact they can run pretty cheap hardware and this uh give rise to to better decentralization meaning that we can run uh we can have a lot more valids on the network and this is not just something that uh we designed and put into some kind of white paper uh actually over the past year also uh the team worked very hard on implementing this and we launched in August 2024 this is the biggest upgrade uh we did to mainnet since uh the original launch in October 2020 in terms of lines of code probably like over 100 th000 lines of code changed uh this huge upgrade was down completely live uh and with zero downtime so as a user as user you probably didn't even know that this upgrade happened and and has to rely on us like telling the story that this thing actually happened to know that well this the main has been uh success successfully upgraded to this whole new version and main that is fully sharded both state and transaction processing are sharded meaning that no validators need to track the state of more than one Shard and today we have six shards on Main net so that's a pretty good state to be in uh but in in my opinion that's uh just the beginning of a whole new era where we want to explore the limit of scalability uh we truly don't know today uh where the limit lies uh because in series the main can scale with the number of charts and not only that we actually also want to build this interesting feature called Dynamic rearing where the number of shards on the network would dynamically adjust based on transaction load what that means more concretely is that if you have one Shard that becomes congested uh let's say there's like popular app launching there uh then the system detect that and uh knows that it should spread that Shard into two shards and conversely if have two shards that are both idle or low usage then it would them back into one so let's imagine um in in the Sprite future where we have 100 shards and each of each shart can do 10,000 transactions per second and that would result in 1 million transactions per second which is 86 billion transactions per day it's it's a huge number and we do need that uh if if you think about the the bright future that uh you know Ilia Alex and other speakers have talked about where we have billions of users and agents or maybe even trillions transacting settling tents um and payment channels this requires un parallel scalability that only near can offer through this shorted approach and it's it's not enough to just have that uh 1 million transaction per second or 86 billion transactions per day uh you you cannot settle all the billions of intents per day inside one single smart contract uh that just would be too much for one single smart contract which lives in one Shard to handle so what we need is actually sharded smart contract which allows us to fully Leverage The Power of near sharding that so so that instead of it existing on one Shard it simultaneously exists on all shards of near so that basically no matter how many shards near has the smart contract would would be living on that many shards this is possible by making the smart contract code Global meaning that Every Single Shard has access to the smart contract code and the state is actually stored under user account rather than today stored under the contract account which then you know have to live in one short and this means that it can fully leverage uh nearest charting approach and uh be much faster and also much more scalable um and you know allow for this non-blocking peer-to-peer or multi-party settlement uh which is key to this future we have like tons of Agents transacting with each other so that's great I talked a lot about how nearly scalable how we can make it more scalable uh but we also wanted to make it even faster than today so today it's pretty decent the block time is uh is about 1 second and time to finality is about two two to three seconds uh but to make a truly seamless experience for the users we want to do better and one of the primary ways we want to do this is through the separation of consensus and execution uh that may sound very abstract so what that means is that today one of the problem we have is that when you need to execute something you first needs to to wait for the consensus to uh to create a block and then you know what to execute uh that's a problem because um means that you cannot the nodes are not constantly executing transactions or receipts it has to wait uh rather what we want to do is that we want to have consensus wrong as fast as possible just all those transactions and then separately the execution try to catch up uh this means that a node would be constantly executing transactions because you know what to execute it's already there waiting for it to execute uh this would allow for uh for much better throughput but also would support long running transactions because now you don't need to have a state root update every single block and uh because blocks are produced uh much more frequently uh if you have this RPC nodes uh just eagerly execute them as they get produced you also get optimistic confirm that's much faster than what we have today and that is enough for most people and then separately we still have the finality guarantees that we have today so that's also not the end of it so if you actually think about it in a more uh concrete way like what what what this kind of thing actually enables so uh on the bottom you can see what we have today so let's say you have some transaction uh that missed the the block production let's say got got in like one millisecond after the blocks produce then it it's kind of suboptimal because you have to wait for one full second until the next block get produced rather if if we have this separation of consensus and execution the consensus is constantly runs you can produce blocks much faster and let's say blocks are produced every 200 milliseconds then even if you miss the block production you know that you will get in 200 millisecond later which is you know 5x better than what we have today and what's more interesting is that it allows for this uh long running transactions that doesn't fit in the in the limit of one block so that is not possible today because we we we need to make sure that consensus can continue producing blocks and not get interrupted uh so that there is a gas limit that essentially limits how much time uh each block can spend on execution um and in in this new word because you don't actually need to have the state root update going into the consensus for the next block you can actually wait uh longer than one block or even two blocks uh to wait for some some transaction to finish and this is very interesting because it it enables use cases that not possible today for example we have um we have this we have aora running evm interpreter as a smart contract and Alex has come to me at least a 100 times saying that hey like how can we make sure that one transaction can fit more gas into it so that we can we can we can be fully compatible with ethereum executing 30 million evm gas in onee transactions so this is basically the solution to that and on top of that you still the use cases we support today let's say ref swaps that takes 5 milliseconds that's also readily available and also much faster uh so this combined with uh what we already have with with nit 2.0 this leads to a very bright future where not only near is hypers scalable but also extremely fast and very versatile you can build all kinds of different applications whether it's dentalized exchange uh that are some swaps is very fast to execute or some long running computation that take seconds to execute","transcript_synced_at":"2026-11-03T05:25:16.901Z","segments":[{"start_seconds":0,"text":"hey everyone um how you guys doing yeah so you have heard a lot of","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=0s"},{"start_seconds":7,"text":"very exciting uh new stuff from the uh previous amazing speakers and um I'm going to talk about something that's uh","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=7s"},{"start_seconds":15,"text":"already existent but hopefully uh equally exciting uh this is how we build the most scalable blockchain so from the very beginning uh","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=15s"},{"start_seconds":24,"text":"near star's vision of building a fast cheap uh protocol that can scale to meet the needs of billions of users and now","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=24s"},{"start_seconds":33,"text":"also AI agents and the primary way we achieve this is through blockchain charting uh so blockchain charting is basically this","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=33s"},{"start_seconds":41,"text":"uh uh scaling approach that divide the global state of blockchain into Shard States so that no validators in the network need to track the state uh of","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=41s"},{"start_seconds":50,"text":"all the shards and as a result the network can scale which the number of shs uh it has oh sorry so uh back in","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=50s"},{"start_seconds":60,"text":"2019 we came up with this uh nce design uh for completely started blockchain and before that uh all the prior art on","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=60s"},{"start_seconds":68,"text":"blockchain Shing pretty much uh is what we show on the left hand side uh which is that uh you have one Beacon chain and","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=68s"},{"start_seconds":75,"text":"for each Shard you have a Shard chain and there is some complex orchestration mechanism so that allows you to communicate between different shards uh","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=75s"},{"start_seconds":84,"text":"but it's actually very difficult to implement because uh when you have one blockchain per Shard then it can have its own Forks when you want to","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=84s"},{"start_seconds":92,"text":"communicate between two shards you can you need to think about which Fork uh it's coming from and which Fork it lands on and what happens if it gets reworked","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=92s"},{"start_seconds":101,"text":"uh all of those problems do have some solutions uh but it requires uh very complex Machinery to make it work uh and one of the key Innovations we did uh","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=101s"},{"start_seconds":110,"text":"with nade is that we say well instead of having that complexity how about we just have one chain that rules them all uh so this one chain that has blocks that","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=110s"},{"start_seconds":118,"text":"contains chunks which are shart blocks from each chart and this greatly simplifies the design and this is what","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=118s"},{"start_seconds":126,"text":"we did U Back In 2019 the first uh version of near white paper uh it's designed for complete shed blockchain and has uh this asynchronous execution","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=126s"},{"start_seconds":135,"text":"environment uh if you want to communicate between uh two different shs or doing cross country call what happens is that uh it first gets executed on the","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=135s"},{"start_seconds":144,"text":"source chart and a receipt would be be generated and sent to the destination sh uh and the security relies on uh fraud","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=144s"},{"start_seconds":153,"text":"proofs and this is how you guarantee that uh no nodes need to track All The Shard was still maintaining the security of the","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=153s"},{"start_seconds":159,"text":"network now 5 years later we made a lot of progress on implementing the original Nate Vision uh but over the past year","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=159s"},{"start_seconds":168,"text":"also we did a major overhaul uh to the nitrate design by introducing stus validation uh and this is basically the","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=168s"},{"start_seconds":175,"text":"foundation for the nitrate 2.0 that uh we introduced uh this year uh the reason for introducing St validation is","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=175s"},{"start_seconds":183,"text":"threefold so one uh is because uh in practice is actually very difficult uh to implement fraud proofs and to test","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=183s"},{"start_seconds":190,"text":"them make sure that they're uh bug free and there is a very good reason why in the optimistic rollup board people still","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=190s"},{"start_seconds":197,"text":"still struggling with deploying them uh into production uh and two is that it actually significantly improve the","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=197s"},{"start_seconds":205,"text":"single sh performance uh this is because before uh the biggest Bon we have on single Shar performance was State access","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=205s"},{"start_seconds":214,"text":"and the reason why that was problem was mostly because you have to do a lot of disc reads and that really slow thingss down uh so with this design we actually","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=214s"},{"start_seconds":222,"text":"make sure that the state is entirely held in memory uh we achieve this uh by having this two-fold approach where on","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=222s"},{"start_seconds":230,"text":"the chunk producer side because it can we only need a few of them uh they can run more expensive hardware and as","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=230s"},{"start_seconds":236,"text":"result they can hold the state um of an entire shard in memory uh and produce chunks execute chunks um by having the","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=236s"},{"start_seconds":245,"text":"state in memory and then on the Val side because um they receive state witness they don't actually keep any state locally uh it's naturally the case that","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=245s"},{"start_seconds":254,"text":"the state is held in memory when the execute the chunks uh and as a result because uh uh the validators don't need","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=254s"},{"start_seconds":261,"text":"to hold any State uh locally uh they don't need to run as expensive Hardware uh in fact they can run pretty cheap hardware and this uh give rise to to","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=261s"},{"start_seconds":269,"text":"better decentralization meaning that we can run uh we can have a lot more valids on the network and this is not just something","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=269s"},{"start_seconds":278,"text":"that uh we designed and put into some kind of white paper uh actually over the past year also uh the team worked very hard on implementing this and we","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=278s"},{"start_seconds":287,"text":"launched in August 2024 this is the biggest upgrade uh we did to mainnet since uh the original launch in October","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=287s"},{"start_seconds":295,"text":"2020 in terms of lines of code probably like over 100 th000 lines of code changed uh this huge upgrade was down","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=295s"},{"start_seconds":303,"text":"completely live uh and with zero downtime so as a","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=303s"},{"start_seconds":315,"text":"user as user you probably didn't even know that this upgrade happened and and has to rely on us like telling the story that this thing actually happened to","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=315s"},{"start_seconds":323,"text":"know that well this the main has been uh success successfully upgraded to this whole new version and main that is fully sharded both state and transaction","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=323s"},{"start_seconds":332,"text":"processing are sharded meaning that no validators need to track the state of more than one Shard and today we have six shards on Main net so that's a","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=332s"},{"start_seconds":341,"text":"pretty good state to be in uh but in in my opinion that's uh just the beginning of a whole new era where we want to explore the limit of scalability uh we","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=341s"},{"start_seconds":351,"text":"truly don't know today uh where the limit lies uh because in series the main can scale with the number of charts and not only that we actually also want to","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=351s"},{"start_seconds":359,"text":"build this interesting feature called Dynamic rearing where the number of shards on the network would dynamically adjust based on transaction load what","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=359s"},{"start_seconds":368,"text":"that means more concretely is that if you have one Shard that becomes congested uh let's say there's like","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=368s"},{"start_seconds":375,"text":"popular app launching there uh then the system detect that and uh knows that it should spread that Shard into two shards","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=375s"},{"start_seconds":384,"text":"and conversely if have two shards that are both idle or low usage then it would them back into","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=384s"},{"start_seconds":391,"text":"one so let's imagine um in in the Sprite future where we have 100 shards and each","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=391s"},{"start_seconds":397,"text":"of each shart can do 10,000 transactions per second and that would result in 1 million transactions per second which is","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=397s"},{"start_seconds":406,"text":"86 billion transactions per day it's it's a huge number and we do need that uh if if you think about the the bright","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=406s"},{"start_seconds":415,"text":"future that uh you know Ilia Alex and other speakers have talked about where we have billions of users and agents or","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=415s"},{"start_seconds":422,"text":"maybe even trillions transacting settling tents um and payment channels this requires un parallel scalability","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=422s"},{"start_seconds":431,"text":"that only near can offer through this shorted","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=431s"},{"start_seconds":441,"text":"approach and it's it's not enough to just have that uh 1 million transaction per second or 86 billion transactions","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=441s"},{"start_seconds":448,"text":"per day uh you you cannot settle all the billions of intents per day inside one single smart contract uh that just would be too much for one single smart","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=448s"},{"start_seconds":456,"text":"contract which lives in one Shard to handle so what we need is actually sharded smart contract which allows us to fully Leverage The Power of near","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=456s"},{"start_seconds":465,"text":"sharding that so so that instead of it existing on one Shard it simultaneously exists on all shards of near so that","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=465s"},{"start_seconds":472,"text":"basically no matter how many shards near has the smart contract would would be living on that many shards this is possible by making the smart contract","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=472s"},{"start_seconds":480,"text":"code Global meaning that Every Single Shard has access to the smart contract code and the state is actually stored under user account rather than today","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=480s"},{"start_seconds":489,"text":"stored under the contract account which then you know have to live in one short and this means that it can fully","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=489s"},{"start_seconds":495,"text":"leverage uh nearest charting approach and uh be much faster and also much more scalable um and you know allow for this","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=495s"},{"start_seconds":504,"text":"non-blocking peer-to-peer or multi-party settlement uh which is key to this future we have like tons of Agents transacting with each","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=504s"},{"start_seconds":512,"text":"other so that's great I talked a lot about how nearly scalable how we can make it more scalable uh but we also","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=512s"},{"start_seconds":519,"text":"wanted to make it even faster than today so today it's pretty decent the block time is uh is about 1 second and time to","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=519s"},{"start_seconds":526,"text":"finality is about two two to three seconds uh but to make a truly seamless experience for the users we want to do","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=526s"},{"start_seconds":533,"text":"better and one of the primary ways we want to do this is through the separation of consensus and execution uh that may sound very abstract so what","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=533s"},{"start_seconds":542,"text":"that means is that today one of the problem we have is that when you need to execute something you first needs to to","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=542s"},{"start_seconds":548,"text":"wait for the consensus to uh to create a block and then you know what to execute uh that's a problem because um means","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=548s"},{"start_seconds":556,"text":"that you cannot the nodes are not constantly executing transactions or receipts it has to wait uh rather what we want to do is that we want to have","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=556s"},{"start_seconds":564,"text":"consensus wrong as fast as possible just all those transactions and then separately the execution try to catch up uh this means that a node would be","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=564s"},{"start_seconds":572,"text":"constantly executing transactions because you know what to execute it's already there waiting for it to execute uh this would allow for uh for much","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=572s"},{"start_seconds":580,"text":"better throughput but also would support long running transactions because now you don't need to have a state root update every single block and uh because","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=580s"},{"start_seconds":590,"text":"blocks are produced uh much more frequently uh if you have this RPC nodes uh just eagerly execute them as they get","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=590s"},{"start_seconds":596,"text":"produced you also get optimistic confirm that's much faster than what we have today and that is enough for most people","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=596s"},{"start_seconds":604,"text":"and then separately we still have the finality guarantees that we have today so that's also not the end of it so if you actually think about it in a","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=604s"},{"start_seconds":612,"text":"more uh concrete way like what what what this kind of thing actually enables so uh on the bottom you can see what we have today so let's say you have some","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=612s"},{"start_seconds":621,"text":"transaction uh that missed the the block production let's say got got in like one millisecond after the blocks produce","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=621s"},{"start_seconds":628,"text":"then it it's kind of suboptimal because you have to wait for one full second until the next block get produced rather if if we have this","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=628s"},{"start_seconds":636,"text":"separation of consensus and execution the consensus is constantly runs you can produce blocks much faster and let's say blocks are produced every 200","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=636s"},{"start_seconds":643,"text":"milliseconds then even if you miss the block production you know that you will get in 200 millisecond later which is you know 5x better than what we have","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=643s"},{"start_seconds":652,"text":"today and what's more interesting is that it allows for this uh long running transactions that doesn't fit in the in","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=652s"},{"start_seconds":660,"text":"the limit of one block so that is not possible today because we we we need to make sure that consensus can continue producing blocks and not get interrupted","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=660s"},{"start_seconds":669,"text":"uh so that there is a gas limit that essentially limits how much time uh each block can spend on execution um and in","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=669s"},{"start_seconds":677,"text":"in this new word because you don't actually need to have the state root update going into the consensus for the next block you can actually wait uh","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=677s"},{"start_seconds":685,"text":"longer than one block or even two blocks uh to wait for some some transaction to finish and this is very interesting because it it enables use cases that not","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=685s"},{"start_seconds":693,"text":"possible today for example we have um we have this we have aora running evm interpreter as a smart contract and Alex","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=693s"},{"start_seconds":701,"text":"has come to me at least a 100 times saying that hey like how can we make sure that one transaction can fit more gas into it so that we can we can we can","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=701s"},{"start_seconds":709,"text":"be fully compatible with ethereum executing 30 million evm gas in onee transactions so this is basically the","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=709s"},{"start_seconds":716,"text":"solution to that and on top of that you still the use cases we support today let's say ref swaps that takes 5 milliseconds that's also readily","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=716s"},{"start_seconds":725,"text":"available and also much faster uh so this combined with uh what we already have with with nit 2.0 this leads to a","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=725s"},{"start_seconds":733,"text":"very bright future where not only near is hypers scalable but also extremely fast and very versatile you can build","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=733s"},{"start_seconds":740,"text":"all kinds of different applications whether it's dentalized exchange uh that are some swaps is very fast to execute or some long running computation that","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=740s"},{"start_seconds":748,"text":"take seconds to execute","url":"https://www.youtube.com/watch?v=L0zcTm937Rk&t=748s"}],"youtube_url":"https://youtube.com/watch?v=L0zcTm937Rk","url":"https://near-pedia.xyz/videos/L0zcTm937Rk"}