Liam Heeger spent two years as a core engineer for Firedancer, the high-performance Solana client being written from scratch by Jump. In January, Heeger announced he had left Jump to create his own layer-1 blockchain called Unto. The next day, news broke that Jump was suing Heeger for violating his non-compete agreement by working on a new high-performance blockchain.
Jump and Heeger settled the case in late February, so I was finally able to catch up with Heeger and get more details on Unto. In short, the layer-1 will architect a new virtual machine to try and improve on Solana’s performance by an order of magnitude.
“We tend to agree with [Multicoin Capital managing partner] Kyle Samani. Incremental performance improvements don’t matter,” Unto co-founder Will Yoo said. “So we’re gonna need a 10x to be relevant.”
Heeger agreed, but added that he’s “not making any promises.”
Heeger helped push Solana’s virtual machine closer to its limits with Firedancer, but he isn’t building on the SVM partly because Solana “made a lot of design choices that they pivoted on really quickly,” he said. Unto plans to spend a lot of time designing the blockchain before beginning the coding process so that it can avoid some of these same forced pivots.
For that, Unto will likely have to raise more cash at some point. The San Francisco-based startup raised $2.5 million in seed funding from Framework Ventures. Jump’s lawsuit says the raise came at a $50 million valuation.
Heeger didn’t get too specific on how Unto’s new VM might look, but he said it won’t use either traditional proof-of-work or proof-of-stake for consensus. The chain will use a globally distributed validator set, so it will appear similarly to PoS — which is what Ethereum and Solana use for consensus — but Heeger aims to create something different.
“The key issue with proof-of-stake is that it incentivizes operators purely on increasing and maintaining their stake rather than the performance of the network and being an effective operator,” Heeger said.
- Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
- Empire: Start your day with top crypto insights from David Canellis and Katherine Ross.
- Forward Guidance: Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin.
- 0xResearch: Get alpha directly in your inbox— market highlights, charts, degen trade ideas, governance updates, and more.
- Lightspeed: All things Solana, in your inbox, every day from Jack Kubinec and Jeff Albus.
- The Drop: The newsletter for crypto collectors and traders, covering games, tokens, apps, memes and more.
