Technical Overview of Solana


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Solana is a blockchain platform that promises to solve the scalability problem many current blockchain platforms face. Solana was created by a team of experienced developers led by former Qualcomm executive Anatoly Yakovenko. The team includes ex-Google engineers, early Bitcoin and Ethereum investors, and advisors who have worked on some of the world's largest cryptocurrency exchanges. 

Published over two months ago
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Unknown to many, Solana is a unique blockchain platform that effectively overcomes the scalability challenge. It seamlessly facilitates the development of smart contracts without scalability limitations.  Solana is a fast and programmable blockchain that provides the necessary infrastructure for building apps for global adoption. Its low cost and swift finality make SOL one of the best-performing blockchain platforms on the market.

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Solana is the invention of Anatoly Yakovenko. It's a platform designed to address the shortcomings of more traditional and established blockchain platforms. The platform can efficiently perform about 50,000 transactions in a second. That's the most outstanding factor that makes the platform unique. Solana can seamlessly add multiple properties to its existing network in a fraction of a second. It has made a name for itself as Ethereum's competitor.

What Technology Does Solana Use?

Solana uses the native SPL protocol, a token standard that the blockchain adopts, closely similar to Ethereum's ERC20 on the Ethereum network. The tokens achieve two primary goals. The first is to pay fees when interacting with intelligent contractors or performing other activities on the platform. Secondly, the tickets make a user eligible to become a validator or leader within the network. When a user is a validator, they can oversee the smooth running of the environment.

What are Solana's Features?

Solana's high performance is because of the seven key features that add speed and efficiency. They also contribute to secure data storage and faster transaction processing. The features create a platform friendly to applications that involve many transaction activities. That explains why the network is home to NFTs, video games, and DeFi activity.

The seven proprietary features that boost Solana's speed are:

  • Archives: The distributed ledger store
  • Cloudbreak: The horizontally scaled accounts database
  • Pipelining: The transaction processing unit for validation optimizations
  • Gulf Stream: The Mempool-less transaction forwarding process
  • Turbine: The communication protocol
  • Tower BFT: Aims to reduce messaging overhead and latency
  • Proof of History: Marks history of a hash, performing as an on-chain clock.

Solana has a fast, secure, and censorship-resistant protocol. It also offers a decentralized blockchain network, combining proof of history and stake. Its foundation is in the RUST programming language, providing a robust base for safeguarding transactions.

What Makes Solana Unique?

Proof of History is the central concept that sets Solana apart from the competition. The feature provides the highest throughput of any Layer-1 blockchain. Another feature of Solana, Sea level, is the world's first parallel smart contracts runtime. These two give Solana an edge, making it competitive in global businesses.

Solana gains value from its seven core features listed above. Their design and making are that they allow the network to outperform most other blockchain platforms, providing a scalable environment for global businesses to deploy crypto apps. Solana's native SOL cryptocurrency comes from its utility. Users can leverage SOL to secure the network through staking as delegators or validator nodes.

The choice is profitable for SOL holders as stakers get half the transaction fees and most of the emission of new tokens. As the Solana ecosystem grows and processes more transactions, the platform will become more valuable. The demand by stakers, users, and developers will continue to grow.

Editorial Staff

This story should be regarded as informational only and should not be considered a solicitation to sell or buy any financial products. Macroaxis does not express any opinion as to the present or future value of any investments referred to in this post. This post may not be reproduced without the consent of Macroaxis LLC. Macroaxis LLC and Aina Ster do not own shares of AC Milan Fan. Please refer to our Terms of Use for any information regarding our disclosure principles.

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