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WIP - WORK IN PROGRESS Introduction: The Convergence of L1 and L2 Over the last several years, the Ethereum community has embraced rollups—layer-two solutions that bundle transactions and post data to Ethereum—transforming Ethereum from a single “global computer” into a network of specialized execution environments. Yet every major rollup st...

Introduction What if high performance blockchain like Solana’s fee model could automatically adjust not just for compute usage, but also for memory, network bandwidth, and I/O? In high-throughput environments, multiple resource bottlenecks can emerge—yet traditional one-dimensional fee mechanisms rarely capture this reality. In Part 1 of our s...

Overview Solana’s blockchain model is known for its parallel execution and local fee markets, which enable high throughput and low latency at scale. However, static fee structures can fall short when network usage surges, as they lack an automated mechanism to adjust transaction costs in real time. In this post, we explore dynamic base fees—ins...

Overview Integer division is a textbook example of how arithmetic in a prime field $\mathbb{F}_p$ can subtly diverge from integer arithmetic. The naive approach often appears correct but can lead to multiple valid solutions in zero-knowledge proofs (ZKP), breaking the soundness property of ZKP. This can lead to multiple security vulnerabilities...

WORK IN PROGRESS Overview These are some personal notes and inquiries from the recent Columbia CryptoEconomics Workshop 2024 at Columbia University in New York. You can find the full program agenda at the official website. The recorded sessions are published here. Priority is All You Need - Dan Robinson Dan Robinson of Paradigm argued that La...

Introduction Figure: Solana REV; Jito Tips are colored in green. Source: Blockworks. Figure: Last 30 days trend, Solana REV; Jito Tips are colored in green. Source: Jito.network. Over the past year, Solana’s Real Economic Value (REV)—transaction fees plus out-of-protocol MEV tips—has soared to an all-time high of $1.4B. Much of that growt...

WORK IN PROGRESS Overview BuilderNet is a decentralized block building network for Ethereum that ensures transactions remain private and MEV value is fairly redistributed to users. It brings together globally distributed, open-source builder instances—currently operated by Flashbots, Beaverbuild, and Nethermind—to collaboratively assemble bloc...

Part 2: Multi-Stage Solana’s Transaction Supply Chain and Control-Theoretic Optimization Recap of Part 1 and Overview of Part 2 In Part 1, we established the foundational queueing-theory concepts that apply to blockchain fee markets: M/M/1 Queues: We examined single-server queues with Poisson arrivals and exponential service tim...