Solana may be the next big thing !

So, What is 𝐒𝐨𝐥𝐚𝐧𝐚 ?

Solana is a highly functional 𝘰𝘱𝘦𝘯-𝘴𝘰𝘶𝘳𝘤𝘦 project that implements a new, permission less and high-speed layer-1 blockchain. 👾

Created in 2017 by 𝘈𝘯𝘢𝘵𝘰𝘭𝘺 𝘠𝘢𝘬𝘰𝘷𝘦𝘯𝘬𝘰, Solana aims to scale throughput beyond what is typically achieved by popular blockchains while keeping costs low. Solana implements an innovative hybrid consensus model that combines a unique 𝐩𝐫𝐨𝐨𝐟-𝐨𝐟-𝐡𝐢𝐬𝐭𝐨𝐫𝐲 (𝐏𝐨𝐇) algorithm with the lightning-fast synchronization engine, which is a version of 𝐩𝐫𝐨𝐨𝐟-𝐨𝐟-𝐬𝐭𝐚𝐤𝐞 (𝐏𝐨𝐒) . Because of this, the Solana network can theoretically process over 𝟕𝟏𝟎,𝟎𝟎𝟎 transactions per second (TPS) without any scaling solutions needed.

𝐏𝐒 :𝐕𝐢𝐬𝐚 𝐡𝐚𝐧𝐝𝐥𝐞𝐬 𝐚𝐫𝐨𝐮𝐧𝐝 𝟐𝟒𝟎𝟎𝟎 𝐭𝐫𝐚𝐧𝐬𝐚𝐜𝐭𝐢𝐨𝐧𝐬 𝐩𝐞𝐫 𝐬𝐞𝐜𝐨𝐧𝐝 𝐨𝐧𝐥𝐲! 😮

Solana’s 𝘵𝘩𝘪𝘳𝘥-𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘰𝘯 blockchain architecture is designed to facilitate smart contracts and decentralized application (DApp) creation. The project supports an array of decentralized finance (DeFi) platforms as well as nonfungible token (NFT) marketplaces.

Now question is 𝐰𝐡𝐚𝐭 𝐦𝐚𝐤𝐞𝐬 𝐒𝐨𝐥𝐚𝐧𝐚 𝐮𝐧𝐢𝐪𝐮𝐞?

Solana’s ambitious design aims to solve the 𝘣𝘭𝘰𝘤𝘬𝘤𝘩𝘢𝘪𝘯 𝘵𝘳𝘪𝘭𝘦𝘮𝘮𝘢 , a concept proposed by Ethereum creator 𝘝𝘪𝘵𝘢𝘭𝘪𝘬 𝘉𝘶𝘵𝘦𝘳𝘪𝘯, in its unique way. This trilemma describes a set of three major challenges that developers face when building blockchains: decentralization, security and scalability.

It is widely believed that blockchains are built in such a way that forces developers to sacrifice one of the aspects in favor of the other two, as they can only provide two of the three benefits at any given time.

The Solana blockchain platform has proposed a hybrid consensus mechanism that compromises on decentralization to maximize speed. The innovative combination of proof of stake(PoS) and proof of history (PoH) makes Solana a unique project in the blockchain industry.