Solana

Solana SOL

$3.22
Market Cap $ 123.514 MM (#100)
24h Volume $ 14.493 MM
Chg. 24h: 2.38%
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Solana project purpose and description

Solana clarity of purpose

Solana purpose and aspects

Solana is a single-chain, delegated-Proof-of-Stake protocol whose focus is on delivering scalability without sacrificing decentralization or security. Core to Solana’s scaling solution is a decentralized clock titled Proof-of-History (PoH), built to solve the problem of time in distributed networks where there is not a single, trusted, source of time. By using Verifiable Delay Functions, PoH allows each node to locally generate timestamps with SHA256 computations. This eliminates the need for the broadcasts of timestamps accross the network, improving overall network efficiency.

Short description

Solana - Web-Scale Blockchain. For fast, secure, scalable, decentralized apps and marketplaces.

Abstract

Solana is an open source project implementing a new, high-performance, permissionless blockchain. Solana is also the name of a company headquartered in San Francisco that maintains the open source project. It is possible for a centralized database to process 710,000 transactions per second on a standard gigabit network if the transactions are, on average, no more than 176 bytes. A centralized database can also replicate itself and maintain high availability without significantly compromising that transaction rate using the distributed system technique known as Optimistic Concurrency Control [H.T.Kung, J.T.Robinson (1981)]. At Solana, we are demonstrating that these same theoretical limits apply just as well to blockchain on an adversarial network. The key ingredient? Finding a way to share time when nodes cannot trust one-another. Once nodes can trust time, suddenly ~40 years of distributed systems research becomes applicable to blockchain!

Link to Roadmap: n/a
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