Introduction to Blockchain - Hezekiah Suleman

if your hands are not too busy please give a round of applause as ezekiah Suman comes up to talk about introduction to blockchain thank you um so today very quickly we'll be talking on an introduction to blockchain before we start can we make it bit Lively so when I say web 3 you say Legos is that fine all right are we are we are we together all right web three web three web three hope it's not looking like a political campaign all right so um we'll quickly talk about um introduction to blockchain now one um this is a very interesting topic whether you are a newbie or you have spent quite some time in the in the web ecosystem already it always it always comes even while I was working on the slides I mean it came to me as something new not really new I mean I've been in the space since 2017 and um but it it just gets interesting when you're learning about um the technology called blockchain so we'll just decipher what the blockchain is all about this is a foundational um topic and it will help you um you know improve on other aspect while you are doing the course of the conference so let's have the next slide please thank you all right now the 10 blockchain is basically is a compound word I'm trying to give us a background of what or how the word blockchain came about it is a compound word stemming from two words block and chain now when you talk about blocks just take think of it as anything um it could even be a building block any material just think of it that way in this case for the purpose of this um teaching we will be having a block as a notebook are we together a blockchain as a notebook is that fine all right now um the blockchain is a compound what right so um the blockchain is a word is a compound word derived from block and chain now let's talk about what a block is how many of us I believe I don't want to use I don't want to mention that but I believe everybody attended a secondary school right are we together great now in secondary school there is something that a teacher does and there's something that the student do a teacher may come up stage to either dictate a note or um copy it on the board and then everybody copies it into their notebooks am I right am I right yes that process is very similar to what happens on the blockchain what I say it is what very similar to what happens on the blockchain now this illustration which I made here just shows each of these blocks you can see each of these colored blocks represent a block and the link in between them represents the chain so this is what technically happens you know on the blockchain a block is connected by link of chains to another block block one is connected to block two block two is connected to block three block three is connected to block four to five and like that you know infinite right until maybe the blockchain gets you know filled up or something I don't know so um that's basically just what happens on the blockchain is that clear all right so let's have um the next slide all right now A blockchain is like a digital notebook remember I was trying to give an example of you have a notebook in secondary school the teacher write on the board or dictate a note and then you copy it into your note that's just how the blockchain works now it is a digital notebook that is shared with everyone in this case now how does it work um can I have a note does anybody have a note close by so I can quickly use to illustrate it is there any book yeah I think that works please thank you okay all right thank you thank you very much now can we all see this can we all see this all right this is a book take this as a blockchain each page in this book is a block what did I say each page in this book is what a block remember all the pages in this book are interconnected am I right when you're done with page one you move on to what when you're done with page two you move on to what until the whole note is what exhausted so take the blockchain as a digital notebook the blockchain is actually a digital notebook what do you write in a notebook you could write anything that's the same way it works on blockchain too so on the blockchain you can write anything but most times and what's most familiar with every one of us is transactions right so transactions are basically what I entered into every page or every note of the blockchain is that noted all right so the pages contained in that book are called what are we following so the pages contained in that notebook are called what the blocks it's very simple as that so the combination of those blocks linked all linked together is what is known as a blockchain I believe that's very very much um simple enough another thing you need to know about the blockchain is that once any data is entered into it once any record is entered into it it cannot be altered that is what makes it a blockchain remember it's not only a blockchain that makes use of what a ledger some of you might have come across this um definition that a blockchain is a distributed and decentralized Ledger because those two features are categorically what makes a ledger a blockchain there are different kinds of ledgers for time we might not be able to expans on each of them but I'll just mention them you know there are different kinds of Ledger there are um centralized ledgers for instance the ones in fact when you starts the um classification from digital and non-digital for digital ledgers we have ledgers like um blockchain right for non-digital ledgers when you walk into a bank like it used to be a thing back in the days that when you walk into a bank after you made um a transaction maybe you made a deposit to somebody or transferred money to somebody that's manually they they give you um a a deposit sleep am I right they give you that check to confirm that their transaction actually went through and then when you get that check um sorry that um piece of paper you now enter the records the date you made the transaction the amount you made then you sign at the end something like that how many of us have witnessed something like that all right great so that is a non digital Ledger however in the case of a blockchain the blockchain is a digital Ledger meaning everything you do has to be you know digital right great so um now the what makes it categorically a blockchain must it must be that it has the feature of being distributed meaning that's what I um explained here first it is shared with everyone that means not one person has a single control over it so when you make a transaction on the ethereum blockchain for instance it is visible to anybody all across the globe it even makes it easier if I have an ens name if I have an enss domain name for instance if I'm having hk. eth once you go on the blockchain Explorer you just search hk. you're going to see a list of probably all the transactions I made in last 24 hours or you know as fast you want to check right right so everybody has some form of equal access to view whatever is being done on the chain is that correct great so that is one of the characteristics that distributed part of it is one of the characteristics of what makes it a blockchain and it has to be decentralized meaning it's not under the singular control of any Central Authority for instance um the government if it's under the control of a central Authority it cannot be called sometimes people may call it a blockchain but it's actually not a blockchain it could be just a ledger there are different kinds of ledgers in fact the term blockchain is derived from a technology which is a general you know broad term technology which is known as distributed Ledger technology DT are we together hope this is not confusing all right so it's gotten from the general broad which is known as distributed Ledger technology so for that we have different kinds for inance P cbdcs how many of us have heard of Central Bank digital currencies yes quite a SI sizable number of us Nigeria has what a cbdc even though I don't know I'm not so sure if it's in use right and different other countries all around the world have cbdcs now um cbdcs 2 are built on a ledger right they are built on a ledger different kinds of like I said there are different kinds of Ledger they actually built using a technology very similar to blockchain technology but the differ you know that it makes is that most CBDs are not decentralized are we together they under the control of a central Authority which is the Central Bank of that country is that noted is that is that clear great but for you to term or to name something you know that technology blockchain it has to be decentralized and distributed so basically that's just what um we are trying to explain on that slide so um now the next slide what is a block remember I told you there are basically two um terms or two words which form that compound term blockchain a block and a chain now on a page you may see if if you are probably very detailed enough to maybe want to count or something like that you may just count okay that there are maybe 10 lines on a page right that you can write on 10 different lines something like that right so each of those lines can take let's say each in on that page let's assume there are 20 lines so it can only take 20 lines of word are we together that's the same thing that happens to on the blockchain every block which I'm referring to now as a page every block has a maximum number of transactions it can accept what is contained in a block transactions what is containing in a block what is contained in a block as simple as that and every block has a maximum number of transactions it can accept for some blockchains it could be eight number of transactions so once eight number of transactions are exceeded a new block is created do you understand what I'm saying so let me explain it now this block one just as this illustration says block one block two and block three block four now once these are the constituents of a block transactions so let's assume transaction one ad they made a transfer of $100 to n that's transaction one transaction two somebody made a transaction to another person you know it could be financial transaction mind you not um on the blockchain any kind of transaction could be made as far as a transaction it can be made on the blockchain not just Financial transactions alone however Financial transactions were the first um practical application of the usage of blockchain technology so that's why it's like the most popular are we together great so transaction three transaction four transaction five transaction six transaction 7 so in this case we are assuming that this block can only take a maximum of seven transactions are we still together great we are assuming that this block this particular block can only take a maximum of seven transactions so once this is exceeded once we've gotten to seven transactions what happens um next is that a new block is created so on block one when we have seven transactions it moves to block two a new block is created once we have seven transactions here a new block is created once we have seven transactions here a new block is created and it continues that way are we still together all right hope this is not boring all right so it continues that way and the blockchain what keeps running are we still together now the first um block on a blockchain is known as Genesis block so whenever you see Genesis block you don't have to be confused it's still referring to the first you know block which was created on that chain is known as a Genesis block and then we have the next block the next block the next block and it keeps running that way are we still together now like I also mentioned in this slide um a block could hold information it hold it holds information basically like transactions it could be records on talk of Records it could be any kind of Records really it could be um health record it could be um Logistics it could be really anything as far as the record it can get on the blockchain or data right now each block connects to the previous one that's just basically what I explain now forming a chain all the blocks in a in a blockchain are all interconnected the first one is connected to the second the second is connected to the third and like that they are all what interconnected and this is actually what makes it a chain because that chain cannot you know be broken every transaction is always linked to another you can track um a particular transaction from the preceding transaction and you can track a particular transaction from the transaction after it are we together as far as a block has been created for it so this way why is this necessary why is it necessary that each of those transactions are linked to one another why is this necessary that's what that's what it answers here that this way no one can do what can change a page without changing all the data in the previous entry so a blockchain cannot be um manipulated that's what you know brings it to that um feature we also talk about the features of the blockchain known as immutability you cannot change what has been imputed on the blockchain since they are all linked together now I also wanted to um give an example of um traditional ways of recording data you know in a centralized system for instance now let's take a university for instance let's assume University of lios now University of lios actually has a way through which they in fact they have you know centralized servers where they store records of all students so even if somebody graduated in 1978 for instance the person can still come back to the university the Admissions and Records Office or you know the Records Office to say I want to um get this data I want to get my even if you forgot your matric number you can ask them and they're going to provide it so how do they do that they actually store data so data has been you know in existence for ages data has been stored in different forms for ages right the only thing is that a blockchain makes it easier it makes it simplified right it's just a simplified way of storing it and in that way nobody can manipulate it nobody can um tamper with it because it remains safe you know as long as that blockchain um exist so um no one can change a page and like that right now um let's talk about let's talk about about the key features of a blockchain I already mentioned immutability so let's let's first talk about transparency now transparency everyone can see what's happening on blockchain am I right how many of us have used the blockchain Explorer okay great quite sizable number of us so on a blockchain Explorer let's take ecan for instance etherscan.io right when you go to it scan you're going to see a list of all the transactions that have ever occurred C on the ethereum blockchain from it Inception since 2014 right you're going to see the Genesis block if you have the time to keep scrolling and scrolling and scrolling and scrolling until you get to the Genesis block so you're going to see all the transactions that have ever been recorded on the ethereum blockchain from it Inception till date till the transaction that is made right at this second while we are talking do you understand now every block I told you has a numbering right I think on the ethereum blockchain the current block number I've not checked recently to be honest but the current block number should be over 8 million that means over 8 million blocks have been created starting from the Genesis block you know one block one block two block three block four block 5 block six and we are almost since 2014 we're almost at it should be well more than 8 million already if I'm not mistaken right so it keeps counting it that way are we together so it's transparent everybody can see okay block one has has been exeed uted we are now at block two we are now at block three we are now at block four until you know where you are so everything every single process on the blockchain is completely transparent like I said you can even check somebody else's transaction right if you probably know the person's ens name or something can check the transaction person made so it's transparent you don't need um to probably um go through any third party to be able to um find out any detail you want to do right so everything is transparent and that's why we even have um smart contract Auditors that I mean you could just wake up and say you want to be a smart contract auditor you know try to um check out things you know do your own research and um find out information about maybe a particular transaction maybe a particular transaction was malicious and they are trying to find out the root cause it's it's it's something anybody can do right you just have to probably have the skill set and you get on it and it's done that way now immutability when something is written it cannot be that's simply what imitability means so once a record has been entered into the blockchain even if it was a mistaken record it cannot be um it cannot be altered that's why you must have heard by now that if you send um a transaction let's say could be a monetary transaction let's say you sent $100 to somebody and you don't know the person maybe you made a mistake in the person's address if you don't know the person it's almost impossible to retrieve um that that that money back right or if you send um that money into a contract address right a contract address is basically the you know a special kind of address created that is it's not an EA it's not an externally owned address so it's a special kind kind of um address that is attached to a token to identify that token sometimes it looks like a wallet address so some people might mistake it or wallet address but if you mistakenly send your phones there they are they are there except probably that address had a clause maybe while the programmer was writing the code to maybe send out any Tok that was sent in there or else that token is gone right so that's one advantage it's an advantage and sometimes to it could be a disadvantage but it has it's more advantageous because when something has been entered into the blockchain it cannot be altered is that great is that clear all right now no single person decentralization no single person or entity controls the blockchain for instance ethereum blockchain who owns ethereum blockchain we all own ethereum blockchain are you surprised are you surprised everybody here owns and everybody by extension in the whole world the whole world owns nobody owns ethereum blockchain people only Built it ethereum is completely open source that means anybody you you if you are here today if you have the skill set you can just wake up go to ethereum.org contribute some you know could be whatever you want to contribute contribute to their code maybe you are a protocol engineer or something like that you can contribute right it's completely open source completely open source eum is completely open source so everybody owns ethereum everybody owns a piece of ethereum right are we still together great so no single person controls um the blockchain for it to be termed as a blockchain if you term that technology as blockchain that means it has to have that feature of no single person being able to to control it are we still together all right now why is the use of a blockchain necessary to everything that happens there has to be a why why is the use of the blockchain necessary number one is trust the first thing that led to the emergence of blockchain Technology was basically trust now um I shared this example at um we three Legos last year CU I was privileged to also um speak on the on on the similar topic um introduction to blockchain now um how many of us have used let's say Western Union to send money is anybody like that anybody or probably you've received money through Western Union you notice that there are two um major issues with Western Union you know except they've improved recently um number one is that your transactions will not get to you in time and we together it may take maybe 3 days to process or sometimes up to a week and um apart from that the fees charged are super super high so maybe on a transaction of $100 you may end up paying maybe $15 as transaction fee so those that you know those um pre-existing systems which are even still existing to date was part of what prompted you know people to go into research on how we can create an alternative uh means for transactions for payment hence the um the emergence of blockchain technology so now you just get on any blockchain of your choice let's say binance smart chain or ethereum or any of them and you just make a transaction and you you TI probably less than $100 as a transaction fee and um sorry less than $1 as a transaction fee and um what else again it it it gets to the recipient almost instantly at least there are in fact most most blockchains are super super fast it's just very um it's just a few of them that are not as fast and we still talk about some of those issues you know which is which number one of them is scalability are we still together great so um yeah so now on the blockchain people can trust I mean once I have your address I can just send you a transaction I don't have to bother because I know it gets to you there's no intermediary to say okay somebody um was supposed to deliver it to this person and he didn't get the person there's nothing like that I mean once I have your address it's just P top it's peer to peer right that's what um Bitcoin was originally designed for right to serve as a P2P payment system a peer to-peer just from me to you there's no intermediary there's no Western Union there's no money ground you know and such so um now security Now the security part of the blockchain is one of the key um features of the blockchain the blockchain is super super secured meaning um if I want to send a transaction from myself to um a person for instance there is no fear that the transaction is going to be going to get hooked somewhere I mean the transaction gets to the person for which it is intended except you made a mistake on your part of copying a wrong address do we understand what I'm saying I will still here all right so the security is um since everyone has a copy of the blockchain it's very hard for hackers to um alter the information whatever information has been imputed on the blockchain it's almost impossible for any hacker to penetrate it right you can't alter the information you cannot change it if you wrote AB BC D even if you use this particular kind of font to write it you know that's still what remains nobody can alter that particular information which you have imputed um on the blockchain as far as it is confirmed I would also talk a bit about that too now let let me quickly just di a bit before coming here now um on the blockchain remember I told you the constituent of every block is what great transactions so I'm I'm happy if you you know I I mean maybe everybody is following so I'm happy now every block what is what is contained in every block are what transactions right now every transaction has a kind of unique identification what did I say a unique identification which is basically known as a transaction hash no two transaction hashes are the same now have you ever seen um some form of alpha numeric characters let's say you interacted with ethereum blockchain for instance and you see some form of alpha numeric you know string of characters let's say a let's say o x um ZX and Y M blah blah blah blah blah you maybe about 32 in number or something like that so now that is generated once every any transaction is carried out on the blockchain and it is unique not two transaction hashes are the same it is unique so whenever you search that the particular transaction attached to that transaction hash pops out and when it pops out what are the details attached to it number one you have what called a time stamp what did I say a time stamp so you have a time stamp attached to it meaning the exact day time minute second millisecond in which a transaction you know was approved or which that transaction was sent so sometimes you can even have two or five transactions within a second within a particular second sent within a second are we together sometimes you may see a transaction this transaction was sent um maybe 3000 that's 3:00 now 3000 54 meaning it was sent 3 at 3:00 54 seconds are we together you may say transaction maybe like five transactions like that but there would still there would still be you know some form of difference maybe in milliseconds or nanc between each of those um transactions however um on the blockchain how a transaction is counted is basically in seconds a transaction is counted in seconds so we have what is known as TPS transactions per second are we still together transactions per second so every system of processing actually has a TPS whether it's a blockchain as far as it's processing transactions every system of processing actually has a transaction it has to read it has to it's like um like an SI value or SI unit of measuring the transactions which are made on the chain or whatever even Visa has um I think Visa current is probably the fastest payment processor in the whole world whether whether it's in centralized or decentralized I think followed by turn turn blockchain right even though recently turn blockchain has been you know much more congested because of the number of transactions we are still going to talk about that you know congestion on blockchain so um so Visa is super fast I think I really can't remember but they have a very high TPS so every processing system could have maybe a TPS of eight transactions per second which is actually very low some could have as much as 100 transactions per second that means every second in every second 100 transactions will be processed do you understand so the lower atps the lower the transactions per second for a blockchain the slower the transaction the slower the blockchain is going to be right so the um TPS on ethereum is not the same TPS with Bitcoin for instance or it's not the same with um Solana or it's not the same with zcash right the slower or the higher the number of transactions that blockchain can process per second the faster it's going to be are we still together all right now that leads us to scalability I'll talk about scalability before going back to my slide now what do you mean by scalability when you say something is scalable it means it is efficient when you say something is scalable it means it is efficient that means and when you talk about efficiency you are talking about work rate that means what can you do in within a specified period of time so if in um let's let's myself as an example if in let's say 1 hour I can stack all the chairs here in 1 hour and somebody in 15 minutes can stack can also stack all the chairs here are we are we following the person is said to be more efficient than I am are we together so that's also what is known as what scalability the person is doing the work at a more scalable we than I am are we together now what leads to scalability scalability is one of the most widely discussed topics in blockchain and within the we through ecosystem so it's good that you understand it because you're going to be talking about it in you know subsequent talks from now now what is scalability scalability um is simply how efficient a blockchain is so for instance um what leads to scalability issues is basically it basically comes from congestion on the blockchain remember I mentioned that more recently the t and blockchain has been kind of you know getting you know sometimes transactions are processed slower than it used to be initially are we together right great so um what led to that or what leads to that is basically the number of users on the blockchain if let's say um 1 million people are trying to make a transaction in one second and that particular blockchain is designed to only handle 500,000 um transactions in one set second what do you think we do can anybody answer that can anybody I have a price for person if let me go about the question again um if a blockchain is hand is designed you know by Design you have to specify what your blockchain can handle maybe based on the kind of capabilities you want to equip it with right like I said not all blockchains have the same um TPS that means they can't all handle the same number of transactions per second so if a blockchain can handle is designed to handle 500,000 transactions in a second and in that particular SEC second 1 million transactions were sent what do you think will happen to yeah yeah please celebrate him as he comes forward I I think it would handle the ones with higher t or him once again he's on the way but the the answer is actually very simple okay somebody wants to answer yes I just want a particular word just a word yeah please I mean I appreciate him all right if Blain S 5 theork te okay so let me reiterate what he said he said the word I just wanted to get was that the rest of transactions will be pending have you ever seen pending on a particular blockchain you see that uh maybe you sent a transaction and the person told you did not receive it then you just took the transaction hash to let's say itan for instance and you just search it and then you see pending right that's just what happens that means the at that instance there were there were too many transactions which made the blockchain congested so it was the transactions at that instance were beyond the number of transactions that that blockchain could handle per second so what he said was um if you if blockchain is designed for 500,000 transactions and 1 million was that's 500,000 transactions per second and 1 million were sent in that second what happens is that 500 would 500,000 will actually be processed are we together and they'll be confirmed successful on blockchain however the left over 500,000 will be what pending are we together so basically that's just what happens on blockchain so so some so this makes it easier so sometimes when you see a transaction pending and you are wondering I mean you've already gotten the answer that at that moment the blockchain could not handle more than the specified um TPS that's what makes um transactions stend now um let me go back to my slide I believe I've um talked about that so please I would like to meet with you please after the uh after my session for your gift so um another use of blockchain is security okay I think I talked about that and efficiency which is also known as scalability now real life use cases of blockchain we the most obvious use cases cryptocurrency with Bitcoin being the first um cryptocurrency um so basically they just help you send and receive digital assets or currencies right in a in a cryptographic form because sometimes too I would have love to talk about cryptography a bit um but for time but um the entire the blockchain or the most in the use of cryp currencies you know the blockchain makes use of even the entire blockchain actually makes use of the a technology known as cryptography you cannot talk about blockchain without um cryptography cryptography is simply the art of encrypting and decrypting information as simple as that so when you encrypt an information so that another person does not know what is contained in that information you are um you are encrypting it and decrypting it means trying to reveal what is contained in that um information that's why all transactions on the blockchain are encrypted all trans transactions in fact all data on the blockchain are encrypted a transaction hash is encrypted because you cannot just if you make a transaction it has to has have a link a unique ID that unique ID is an encryp is in an encrypted format right is in an encryp if you just see a transaction hash you cannot know what it means except you go to search it on the blockchain Explorer so it is encrypted um um blockchains are Al are also used in supply chain trying to track um products maybe you you send something through um Amazon or um DHL for instance you can actually make use of of the blockchain to track products to ensure they are probably well sealed well packaged or something like that right then voting I think that's very clear you can make use of the blockchain in voting you know trying to maybe doing an election could be what whatever form of election you know could be any kind political or not right so you can use it to vote because it's going to be transparent now challenges of blockchain energy use when a blockchain network can use a lot of electricity are we together and that was very much um popular with um the proof of work algorithm the proof of work consensus are gor in now um proof of Stak does not consume as much electricity it's not if the sometimes people make a mistake of thinking that proof of stake um consensus mechanism does not consume electric it does it consumes electric because you are making use of um machines you are making use of you know CPUs right so it consumes electricity however it does not consume as much electricity as um the P for fork model right so run blockchain actually consumes a lot of a lot of electricity um now scalability I also talked about that as more transactions or as more you know users are unbordered onto a blockchain the slower it becomes that why you know one of the things through which we use um within the3 ecosystem to solve the issue of scalability is Introduction of layer TOS so layer TOS are basically side chains they are power chains right that are created outside the main chain itself for instance optimism arbitrum and the likes they are created outside the main chain itself so they help to process the transactions right to take away you know traffic from the main chain so there will not be much congestion you know on the blockchain so as a blockchain grows the slower it becomes so you can't compare the way you know how fast ethereum was let's say in 2014 when it was created with now it was way faster then if you sent a transaction let's say in 2014 you got it instantly like instantly and when new blockchain is created that's same way works once you send the transaction the recipient get it immediately right but as people get on blockchain it gets slower so complexity um it's it still is relatively a new technology at least it has not been um up to 20 years research work has been going on on blockchain technology for over 25 years you know since in the '90s people have been researching what blockchain you know was all about and like that however the the first practical application of blockchain was in 2008 2009 with the introduction of um Bitcoin so it's um It's relatively a new technology and that's why this event has been organized so that you can come to learn about the possibility and of blockchain technology and how we can assess it most especially as Africans you know in building reward Solutions let's not build um it's a challenge to us let's not build things that we don't need are we together are we together yes let's not build what we do need there are problems particular to the African ecosystem there are problems particular that we see in dayto day you know in our day on on blockchain technology for over 25 years you know since in the '90s people have been researching what blockchain you know was all about and like that however the the first practical application of blockchain was in 2008 2009 with the introduction of um Bitcoin so it's um It's relatively a new technology and that's why this event has been organized so that you can come to learn about the possibilities um of blockchain technology and how we can assess it most especially as Africans you know in building real world solu let's not build um it's a challenge to us let's not build things that we don't need are we together are we together yes let's not build what we do need there are problems particular to the African ecosystem there are problems particular that we see in day to day you know in our day on on blockchain technology for over 25 years you know since in the '90s people have been researching what blockchain you know was all about and like that however the the first practical app apption of blockchain was in 2008 2009 with the introduction of um Bitcoin so it's um It's relatively a new technology and that's why this event has been organized so that you can come to learn about the possibilities and of blockchain technology and how we can assess it most especially as Africans you know in building reward Solutions let's not build um it's a challenge to us let's not build things that we don't need are we together are we together yes let's not build what we don't need there are problems particular to the African ecosystem in a blockchain is just a database you can enter any form of data whether it's a health record you can enter records of um of students in a university a a university can actually make use of a blockchain do you get so any record apart from Financial records can be entered on the blockchain so that's just it thank you um okay okay let's give one more question please come and your question should not be longer than a sentence a short sentence thank you very much um please I want to ask this question it's a bit practical um you talked about CPS and from what you said um what so is know the more transaction in the blockchain the more it become slower but let's let's go practic now um Solana is actually 65 6,500 per seconds and turn is 7,000 per seconds now um we all know the volume on salana and volume on T but if we apart from the conjecture like when it's okay if I send Sana now it's more faster than T can you explain that you that imbalance okay just hold on please um do you also have a data because for you to ask theam it's possible you have a data do you have a data of the transactions that happening right now on the only way to track that metric is if you have a data of the number of persons that are trying to send a transaction at this second on the Sol and the number of persons are trying to send a transaction at this second on the Solana blockchain again um it has to be for if you there could be different things that could make that transaction not to go through immediately for instance if there were previous pending transactions I don't know if you get me let's assume a particular block has been pending um let's say for the last for the past one hours if you send a transaction now your transaction will not be processed except you are ready to pay very very high significant amount of gas fee do you understand what makes transactions get processed very fast is even if other if I send a transaction now and my transaction is pending right let's use one blockchain let's say t t blockchain is currently congested am I right great now I have an EA that is an excellently owned address with normal trust wallet metam mask and cod right I send a transaction on that address right maybe to somebody and you also send a transaction if my transaction was pending right and you tried to send a transaction we are still using the same turn and the same blockchain same in fact same wallet everything we are trying to send the transaction do you know if you pay a higher gas fee your transaction will get processed before mine even if there were previously order pending transactions so that's what basically makes a transaction pen it's not it's not more like it's not more or less like a comparison between the two blockchains I don't know if you get what I'm saying or you want to add some more questions okay okay so it's basically based on the priority fee that you send if you send a higher fee your transaction will be processed almost immediately do you understand okay like the Gap in timing the Gap in timing okay yeah yeah yes yes okay okay so please just a minute so um what could also lead to that is you have there are several factors apart from the TPS right there are several other factors like the number of validators on the blockchain do you understand in as much as Solana has 6,500 TPS and um T blockchain has 100,000 something blockchain this Solana blockchain might sometimes be faster than the turn number one I already mentioned one there are no previous pending transactions number two the amount of fees that you used then number three the number of validators on if the Sol blockchain which has a TPS of 6500 has a higher number of validators let's assume there are 100,000 validators on Solana right and there are just 1,000 validators on um what's it called on T in as much as T has a capability to be faster thanana since there are more validators on is still going to be faster than so there are several factors that actually lead to that all right thank you very much please a round of applause for his k