Improbable, the Company Building Yuga Labs’ Otherside, to Launch Somnia Blockchain DevNet Phase
Improbable, the British metaverse technology company behind Yuga Labs’ Otherside platform, has announced that the Somnia blockchain will soon enter its DevNet phase. According to Improbable, the blockchain will be capable of processing more than 400,000 transactions per second, boasting sub-second latency and low fees. Furthermore, the Somnia blockchain will be compatible with the Ethereum Virtual Machine (EVM).
Improbable co-founder and CEO, Herman Narula, highlighted the significance of the blockchain’s high transaction throughput and its ability to accommodate a wide range of applications. He expressed his belief that the blockchain industry has been focused on short-term gains and token pumping, rather than addressing real issues. Narula emphasized that the average transaction volumes on some chains are currently extremely low.
The undertaking of the Somnia blockchain is led by the Virtual Society Foundation, which was initiated by Improbable earlier this year. The project is financially supported by Improbable’s M2, a network of interoperable metaverses backed by notable investors such as a16z and SoftBank.
Narula explained that his team has dedicated the past two years to research and development, culminating in the creation of groundbreaking technology allowing for hundreds of thousands of transactions per second. This breakthrough is essential for building practical applications.
In a tweet thread, Narula compared the current challenges faced by the industry to those encountered by a restaurant. He illustrated that parallel execution, i.e., more waiters serving more tables, becomes problematic when orders refer to each other, leading to potential errors. He emphasized that a new, distinct solution is necessary to handle billions of updates when a crowd exists in a single spot.
As a result, Improbable’s plan for Somnia involves providing a single waiter with “a whole bunch of drugs” to enhance their speed. Narula humorously concluded his analogy by stating, “In conclusion, Somnia: Let’s give the EVM crack.”
Overall, the launch of Somnia’s DevNet phase is expected to introduce significant advancements in the blockchain industry, particularly in terms of transaction speed and scalability.