When we compare it to the performance of other blockchains, Bitcoin's is 10 minutes, and Ethereum is 15 minutes.įurthermore, any holder of the SOL token can stake their tokens as a part of the blockchain's PoS consensus mechanism, and they can stake their tokens with validators that process the network's transaction. Then you have the addition of pipelining, which is a transaction processing unit when it comes to validation optimization, as well as cloudbreak, which is a horizontally-scaled accounts database, and finally, the archivers, which allows for the distributed ledger storage.Īll of these features create a high-performance network that has 400ms block times and can operate thousands of transactions per second. Then you have Gulf Stream which is a mempool-less transaction forwarding protocol, as well as Sealevel, which is a parallel contracts runtime. The Solana team has developed eight technical features that help the blockchain match the capabilities of any other centralized system, and aside from the aforementioned proof-of-history (PoH), we have Tower BFT, which is a PoH-optimized version of practical byzantine fault tolerance, as well as Turbine which is a block propagation protocol. The order of the transactions is inbuilt into the hashed output as a result. This means that it takes an input and produces a unique output that is difficult to predict, and as such, Solana can take the output of a transaction and use it as the input for the following hash after it. All of the events as well as the transactions that occur on the Solana blockchain are hashed through the usage of a hash function known as SHA256. Solana is a third-generation, proof-of-stake (PoS) blockchain that has implemented a unique way through which it creates a trustless system that determines the time of a transaction and is dubbed proof-of-history (PoH). After they gathered the attention of a few more employees, the Solana protocol as well as the SOL token started getting developed, and were completed and released in 2020 for the very first time. To do this, he needed the assistance of his former colleague at Qualcomm known as Greg Fitzgerald, where both of them founded the project known as Solana Labs. He entered a new position at Dropbox after that, and in 2017, Anatoly Yakovenko started working on a project that would over time be Solana. The Solana blockchain is essentially an improved method through which transactions are verified that resolves issues such as speed and scalability through the usage of a method known as Proof-of-History (PoH) which allows Solana to handle thousands of transactions per second.Īnatoly Yakovenko is by far one of the biggest people behind Solana, where he started off working in Qualcomm and became a senior staff engineering manager in 2015. Solana (SOL) is a blockchain network that has the priority of providing its users with quick transactions as well as a high level of throughput, which is done through the implementation of a unique method of ordering transactions, where users can pay the transaction fees and interact with smart contracts through the usage of the native token SOL.
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