Solana is an open-source blockchain platform designed with a focus on scalability and speed. It allows the creation and deployment of decentralized applications (dApps) and processes large-scale transactions without sacrificing performance and at low costs. With unique solutions such as Proof of History and Sealevel, Solana stands out against other blockchains like Ethereum or Bitcoin. The platform was created for the global adoption of blockchain technology, eliminating barriers related to costs, speed, and scalability.
History of Solana
Solana was founded in 2017 by Anatoly Yakovenko, a software engineer with experience at Qualcomm. The idea of creating Solana arose from the need to improve the performance of blockchains, which suffered from low throughput and high transaction costs. Yakovenko and his team developed a unique approach to synchronizing time in the blockchain, which became the foundation for Solana. The project's name comes from Solana Beach - a picturesque beach in California, where Yakovenko spent a lot of time.
Solana - Characteristics
Solana has several unique characteristics that make it special in the world of blockchains:
Proof of History (PoH)
Proof of History is an innovative solution that allows synchronization of time in the blockchain. Thanks to this mechanism, Solana can process thousands of transactions per second, making it one of the fastest platforms on the market.
Low Transaction Fees
The average cost of a transaction on the Solana network is only 0.00025 USD. This makes Solana an ideal solution for users who need fast and inexpensive operations.
Massive Throughput
Solana can process up to 50,000 transactions per second (TPS). This is significantly more than Ethereum or Bitcoin, which process about 30 and 7 TPS respectively.
Sealevel
This is parallel execution of smart contracts, which allows multiple operations to be processed simultaneously. Because of this, Solana can support more complex applications and operations without sacrificing performance.
Global State
Solana supports a single global state, meaning that all applications on the platform operate in a unified consistent environment. This simplifies integration and ensures greater transparency.