YouTube2Text

The Real Transaction Lifecycle: From Your Device to the Blockchain — Transcript

by Optimum · 1,010 words · 147 segments · language en · Watch on YouTube

Full transcript

  1. 0:05Hello everyone. Uh welcome back to uh my
  2. 0:08messy whiteboard. Uh today I'm going to
  3. 0:11chat with you about some of the
  4. 0:13essentials of networking. Uh and
  5. 0:17particular so the mechanism through
  6. 0:19which uh anything that's happening on
  7. 0:21web 3 takes place is instantiated
  8. 0:25uh over networks. And we're gonna start
  9. 0:28with, you know, one of us here sitting
  10. 0:32at home. Uh, and uh, we start off by
  11. 0:37deciding to initiate a transaction.
  12. 0:43So, we decide to initiate a transaction
  13. 0:46and it first goes over the first hop uh,
  14. 0:50of the trip of this transaction. Uh
  15. 0:53maybe it's Wi-Fi and here you are sort
  16. 0:56of uh you know struggling to get Wi-Fi
  17. 0:59with whoever else is in your household
  18. 1:02or maybe uh also your neighbor's
  19. 1:04microwave. Uh then it gets to you know a
  20. 1:08first what's called an access point uh
  21. 1:11in your neighborhood maybe inside your
  22. 1:13uh apartment building. Um then it's
  23. 1:16going to go through some fiber which is
  24. 1:18of course shared uh with all kinds of
  25. 1:20other people. uh and then it goes from
  26. 1:22more and more of these different access
  27. 1:25points and throughout it's going to go
  28. 1:27through something which we represent
  29. 1:29like this as electrical engineers which
  30. 1:32this kind of X looking thing is actually
  31. 1:34a switch. So it's going to go through
  32. 1:36switches and routers. A switch is the
  33. 1:39physical machine that actually connects
  34. 1:43inputs to outputs and the routing is
  35. 1:46what decides what action that machine
  36. 1:49takes. So think of the routing as
  37. 1:51actually being the software part and the
  38. 1:54switches being the hardware part. Okay.
  39. 1:57So eventually it gets through here and
  40. 2:00um it's going to get of course uh to
  41. 2:03some block builder and the way it's
  42. 2:06going to happen here that it gets
  43. 2:08through a block builder is that it's
  44. 2:10going to go through uh a variety of
  45. 2:13these different switches uh you know all
  46. 2:16over the world and there's going to be
  47. 2:18all kinds of fancy routing. So uh this
  48. 2:22is also going to be coming from all
  49. 2:24kinds of other places and your block
  50. 2:26builder is going to go ahead and build a
  51. 2:29block uh according to these different
  52. 2:31transactions.
  53. 2:33Now um this has to get uh onchain and
  54. 2:38basically it will have to go through a
  55. 2:40proposer uh and the proposer maybe the
  56. 2:44block builder managed to get a proposer
  57. 2:50connection that's pretty good but
  58. 2:52generally again here you will still have
  59. 2:54all of these switches you know it's not
  60. 2:56like there's somebody with a a roll of
  61. 2:59fiber connecting everybody to everybody
  62. 3:02else and then there's proposer is going
  63. 3:04to have to talk to a bunch of validators
  64. 3:08uh and get enough of these validators to
  65. 3:11agree and validate whatever uh block is.
  66. 3:20Okay. So let's look at this proposer.
  67. 3:24There isn't a dedicated fiber going from
  68. 3:28a proposer to each and every validator.
  69. 3:33Let's think about it. If you did have
  70. 3:36this kind of direct connection,
  71. 3:39suppose uh that I have uh uh 100
  72. 3:44validators or maybe let's just say a
  73. 3:47thousand validators. That's 10 to the
  74. 3:49power of three. you know that's
  75. 3:52basically not more uh than say Ethereum
  76. 3:56has or if you think of something like uh
  77. 4:00rotor in Solana you'll have to be
  78. 4:02talking to 200 of them so let's even
  79. 4:05just bring it down say it's 100 which is
  80. 4:0810 to the power of two each of these
  81. 4:12nodes right because the proposer takes
  82. 4:15turns being proposer sometimes it's just
  83. 4:17a validator sometimes it's a proposer if
  84. 4:20each of these has had to have a
  85. 4:22dedicated connection to the other.
  86. 4:25With something like Ethereum, even if
  87. 4:28you think that there's only a thousand,
  88. 4:30which of course is not true, there's a
  89. 4:31lot more than that. You would need
  90. 4:33roughly the square of that 10^ the 6.
  91. 4:36You would need basically a million
  92. 4:40separate
  93. 4:42dedicated lines going across the world.
  94. 4:45Not happening. Think even of something
  95. 4:48like Solana with even if you have to
  96. 4:50contact a hundred of them, you would
  97. 4:53need now 10,000 different connections,
  98. 4:57different pieces of fiber going across
  99. 5:01the world in all kinds of awkward spots
  100. 5:04to try to connect everybody directly to
  101. 5:07everybody. So that's basically not
  102. 5:09what's ever happening, okay? you're
  103. 5:12always going through a network and
  104. 5:14inside this network there's a lot of
  105. 5:16different switches where those switches
  106. 5:19are basically doing the routing where
  107. 5:21again routing if you will is the
  108. 5:23software part of operating the switch.
  109. 5:27So the idea that you can have uh you
  110. 5:30know dedicated links or pointto-point
  111. 5:32links is simply not feasible. It just
  112. 5:36doesn't scale right. you you can't do
  113. 5:39this many dedicated lines. And then what
  114. 5:42would happen is if a new node came in
  115. 5:44all of a sudden then you would have to
  116. 5:46run a thousand new lines to connect
  117. 5:49everybody to everybody else, right? You
  118. 5:51would never ever add a new validator.
  119. 5:57So it's really important when we talk
  120. 6:00about bandwidth to realize that even if
  121. 6:04you may have some portions um that are
  122. 6:07fiber uh that's dedicated to something
  123. 6:11those portions are never actually
  124. 6:13pointto-point portions. um that just
  125. 6:16portions inside your network which is
  126. 6:19then connected to a variety of different
  127. 6:22um
  128. 6:24different uh uh switches and that the
  129. 6:29reality is always that you are in what
  130. 6:32we called a switch network. So this
  131. 6:34switch network is basically the reality
  132. 6:37of any system. You can of course speed
  133. 6:39up some uh some links here and there by
  134. 6:42putting in some dedicated fiber. That's
  135. 6:43great. Uh but that's not really changing
  136. 6:47the underlying operation of a network
  137. 6:51and it can't it can't just uh just from
  138. 6:54uh just from the math of it. Um so we'll
  139. 6:57continue to talk more about this and
  140. 6:59also think even in a very simple system
  141. 7:02how the bandwidth here if you're doing
  142. 7:06for instance in in Salana something like
  143. 7:09a star system has to be shared and what
  144. 7:13are the effects what are the
  145. 7:15consequences of that sharing. So just
  146. 7:18remember there is no such thing as a
  147. 7:20dedicated link.

About this transcript

This page contains the full transcript of The Real Transaction Lifecycle: From Your Device to the Blockchain by Optimum, generated from the public captions YouTube serves with the video. The transcript has 1,010 words across 147 segments, with the original timestamps preserved so you can click any line to jump to that moment in the embedded player.

What you can do with it

Use the transcript to take notes, quote the speaker, build a study guide, generate a summary with ChatGPT or Claude via the YouTube Summary tool, or export it as a timed subtitle file with YouTube to SRT. You can also re-open it in the transcriber to translate the transcript into 100+ languages.

Free YouTube transcript tool

YouTube2Text is a free YouTube transcript generator — no signup, no daily limit. Paste any YouTube link and get the full transcript instantly, with timestamps, click-to-jump, translation to 100+ languages, AI prompts for ChatGPT, Claude, and Gemini, and exports to TXT, SRT, VTT, or Markdown.