Solana developers suggest a new hashing system to overcome scalability issues.

Solana developers have introduced a new hashing system, SIMD-215, to address scalability challenges caused by rising network usage. This proposal presents a lattice-based homomorphic hashing function designed to optimize account verification and tracking, enabling efficient handling of billions of accounts. The current Solana network faces the "state growth problem," as regular recalculations of all accounts become increasingly burdensome with growing user bases. Co-founder of Solana Labs, Anatoly Yakovenko, highlighted this issue on X, explaining the computational expense of creating new accounts and maintaining a global account index. The Accounts Lattice Hash aims to resolve these bottlenecks by offering instant verification and eliminating the need for complete state recalculations. This homomorphic hashing function allows for state updates based on changed accounts only, saving time and computational resources while preserving system integrity. Republik Labs likens this approach to tidying a house, focusing on messy rooms instead of daily scrubbing. If implemented, the proposal could significantly boost Solana's speed and efficiency, making it more suitable for widespread adoption. Solana is a prominent player in decentralized finance (DeFi) and on-chain activities, outperforming Ethereum in trading volume across decentralized exchanges (DEXs). With over $113 billion in DEX trading volume last month, compared to Ethereum's $78.9 billion, Solana continues its rise in the DeFi space. Solana has overtaken Ethereum as the top destination for new developers in 2024, according to a report by Electric Capital. The shift is driven by increased Asian developer activity, with 7,625 new developers joining Solana's ecosystem this year, surpassing Ethereum's 6,456. Solana briefly surpassed Ethereum in network activity on March 18 and October 28, influenced by meme coin demand and daily network fee generation, respectively. Max Resnick, a prominent blockchain researcher, has also left Ethereum infrastructure firm ConsenSys to join SOL-focused R&D company Anza.