What is Solana (sol)? - kamagraoraljellybestellen

23 Mar

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Solana, the New Kid on the Block, is full of innovations and is supposed to revolutionize the blockchain world.The platform contains innovative functions that enable it to up to 50.To carry out 000 transactions per second.How is it possible and how does Solana work?Let us immerse yourself in the world of Solana and learn what the future of blockchain could look like.

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The Solana White Paper is the first written reference of the Proof-of-History, described as a new type of time recording for the distributed system in the blockchain.The team published the Solana platform test network in February 2018.Solana Labs, the company behind the platform, was originally called Loom.Later the name was changed to avoid a confusion with Loom Network, which is a multi-interior operability solution.

Solana collected more than $ 5 million from two seed rounds in front of series A.In 2019 Solana Labs completed a $ 20 million Serie A under the direction of Multicoin Capital.After the introductory auction on Coinlist, Solana collected another $ 1.76 million.

The beta-mainnet was launched in March 2020 and offers basic transaction functions and smart contracts.

The Solana team has currently gained its experience through working for the world's leading companies (Apple, Qualcomm, Intel, Google, Microsoft, Twitter, Dropbox and others).So far, Solana has attracted the attention of many investors, including MultiCoin Capital, Foundation Capital, Slow Capital, CMCC Global, Abstract Ventures and many more.The Solana Foundation, a non -profit foundation, actively participates in the financing and development of the initiatives of the community.

Ok, but what exactly is Solana now?

Thanks to blockchain technology, decentralized transactions are possible.But the technology that we use to transfer cryptocurrencies has a big problem - it is slow.In order to put things in the right light, we look at the Ethereum network, which can process about 15 transactions per second, compared to the tens of thousands in the Visa network.

And that is exactly what Solana wants to change for better.So what is Solana?

Solana is a programmable blockchain that strives to carry out high -speed transactions without losing its core function, decentralization.The network uses a new mechanism called Proof-of-History.Sol, the native token of the blockchain, is used for transaction fees and can also be started.Solana is a direct competitor of the Ethereum network.

What is a programmable blockchain?

In contrast to Bitcoin, which is mainly a huge and unchangeable ledger, Solana uses Solana Smart Contracts.These smart contracts are code bits that trigger actions when the conditions are met.Ethereum uses the Smart Contract function to provide decentralized applications (DAPPS).However, the network clogged the sheer amount of these self -executing contracts.

Consider the comparatively low TPS from Ethereum and the large number of smart contracts.The network is slow, has high transfer fees and an enormous CO2 footprint, as it is still based on the proof-of-work consensus.ToEthereum 2.0 is fully introduced, should there be space for blockchains of the next generation to get a share in the DAPP market.ETH 2.0 should find the way to our reality in 2022.Until then, Solana is the fastest programmable blockchain.

Solana works according to a adapted proof-of-stake consensus model on which the latest core innovations were used.What Solana does so quickly is this combination of eight innovative functions:

Proof-of-History

Tower BFT

Gulf Stream

turbine

SEALEVEL

Pipelining

Cloudbreak

Archivers

POH: What is proof-of-history?

The Solana blockchain uses the proof-of-history (POH) algorithm, which is not a consensus mechanism, but is a cryptographic clock.POH makes the entire network more efficient and faster because nodes do not have to communicate to validate a block.Instead, everyone must agree on the time order of the events registered in the Chain.Through historical records of transactions and events in the blockchain, the system can easily track the order of events.Each node has its own watch (Clock!), Which is the main reason for the efficiency of the network.

On the other hand, Bitcoin uses the proof-of-work consensus.This requires miner transactions validate and produce new bitcoins with every new block.Miners have to work together to achieve a consensus, for example to determine when a transaction took place.

In his white paper, the Creator of Solana found the essential feature of the proof-of-work that Bitcoin uses-the ability to act as a decentralized clock.No clock is required in traditional centralized systems, since all nodes of the system can trust that the time stamps are precise.

As the Creator of Solana explained, the POH is a historical recording that proves that an event took place at a certain point in time.

Tower BFT: A practical Byzantine fault tolerance, optimized for POH

Solana implemented a practical Byzantine fault tolerance, or PBft for short, which is optimized for POH.The Tower-BFT is an algorithm that uses the POH as a cryptographic clock to achieve consensus without having to send a flood of communication between the nodes.This algorithm helps to drastically improve the transaction speed.

turbine: The protocol for the blast propagation

Ein weiterer Bestandteil dieser Hochgeschwindigkeits-Blockchain ist das turbinenprotokoll, das Daten, die zwischen den Nodes übertragen werden müssen, in kleinere Datenpakete packt.The transfer of data into smaller steps helps with bandwidth problems and increases the processing speed of the network.

SEALEVEL: simultaneous smart contracts

Was ist Solana (SOL)?

Die effiziente Laufzeit von Solana wird auch durch die SEALEVEL-Engine unterstützt, die die parallele Verarbeitung von Transaktionen ermöglicht.This is a fundamental development in the blockchain industry, since Solana is the first blockchain that is able to carry out parallel processing for the same command, but with different inputs.

Gulf Stream: Solana's Mempool management solution

Gulf Stream is the Solana solution to reduce the pool of unconfirmed transactions.The system pushes the intercept and forwarding of transactions to the end of the network.In this way, validators can shorten the confirmation times, carry out transactions prematurely and reduce the storage load by the pool for unconfirmed transactions.Gulf Stream enables Solana, 50.To achieve 000 transactions per second.

Pipelining: transaction processing unit to optimize the efficiency of a single nod

The pipelining process is an optimized method for processing the input data current, which must be processed in sequential steps.The CTO of Solana compared the pipelining process with the way we wash laundry.The clothing goes through the process of washing, drying and folding, and each of these steps must be carried out in this order, but in different units.This model is often used in CU design and enables the quick validation and replication of transactions on all nodes of the network.

Cloudbreak: Solanas horizontally scaled architecture

Solana uses memory -depicted files and sequential operations to support the scalability of the network.Cloudbreak is the data structure that enables sequential writing and simultaneous reading between the 32 threads that support the modern SSD.

Archivers: Solanas Distributed Ledger Store

Archivers are used to save data.You download the data from the consensus validators.POH technology enables the implementation of proof-of-replication (POREP) for batch verification over millions of replicator nodes around the world.Archivers tell the network how many bytes you have available for saving.Based on the overall available memory of archives and the number of replicator identities, the network divides the LEDger into the correct parts to meet the replication rate and fault tolerance.Archivists are rewarded for the storage effort with ~ 3% of inflation.

How does Solana work?

Solana is the world's first web-scalable blockchain.Due to its unique architecture.Generate 000 TPS.

Solana was developed to be the fastest blockchain on the market. Das Projekt verwendet acht Kernfunktionen (PoH, Tower BFT, Gulf Stream, turbine, SEALEVEL, Pipelining, Cloudbreak, Archiver), die es ihm ermöglichen, ungeahnte Transaktionsgeschwindigkeiten zu erreichen.Solana uses a POS consensus mechanism that is supported by the Tower BFT consensus.

The Tower BFT enables the network to achieve consensus by enforcing a universal source of time called proof-of-history.This creates a permanent reference for all nodes of the network.

The proof-of-history is a decentralized watch that contributes to securing the blockchain and is one of the eight core innovations by Solana.In short, Solana's processes work as follows:

Receives the translation input on the Ledger

The LEDGER arranges the messages so that they can be processed efficiently by other nodes

Then the same ledger transactions of the current status leads and saves it in the RAM

The Ledger published the transactions and the signature of the final state to the verification (these are the replication nodes).

Verifiers carry out the same transactions on the copy and publish their signature after confirmation

Published confirmations are the votes for consensus mechanism

What applications are on Solana?

Now that we got to know Solana a little better...Which apps exist in the Solana network?

Solana is a programmable blockchain because it can interact with smart contracts, just like Ethereum.Smart contracts support a number of decentralized applications (DAPPS), such as NFT markets, defi games and Dexs.The most popular Solana apps are decentralized stock exchanges (Dexs) and credit apps.The network can also support packaged assets and stable coins such as USD Coin.You can find the entire Solana ecosystem here.

Solanas competition

Most permissionless blockchains see Solana as potential competitors, since Solana is a practical alternative to older smart contracts blockchains.Many compare Solana with Ethereum, the first blockchain-based server platform.The main advantage is that the platform is up to 50.000 TPS can process, while the rate of Ethereum is between 15 and 45 TPS.

When comparing the size and historical development, the competitors of Solana Skale Labs, 1token, ARK and Cindx are.But the constant improvement and design of the project differentiate it from all existing blockchains.

Solana's ecosystem: more than 250 partners

Solana started the Mainnet Beta network in March 2020.Since then, the Native Sol Coin has been one of the top 10 cryptocurrencies after market capitalization.Although the network offers complete functionalities, the developers are still working to improve the functions of the network.

Solana already has over 250 projects and partners, including USDC, Chainlink, BSN and serum.The Solana team is confident that the scalability for DAPPS is no longer an issue and wants to bring in partners and capital to help them integrate a billion user.Solana Labs plans to further accelerate the platform structure and plans to set up an investment and trade desk for the network.You can follow Solana's team developments on Github.

Sol-Price forecast-what can we expect in the Solana future?

The overall project development and projects that have joined Solana contributed to the positive market mood.The native token (Sol) of Solana is used for transaction fees and staking.The protocol burns all the fees paid in SOL, which makes it a deflationary mechanism and offers users an incentive to stick directly from their compatible crypto wallets.

From September 2021, the native token (SOL) from Solana ranks 7th of the cryptocurrency with a total of 296 after market capitalization.831.588.35 token in circulation.Due to the many successful partnerships, the SOL Price recorded an increase of 66000%.The Solana course all-time high is $ 214.96 on 9.September 2021 was reached.Investors can also increase their return through the use of Sol.

Solana's token distribution

Since September 2021, Sol has a circulation volume of $ 296.69 million.

The SOL token distribution:

Seed Sale tokens make up 16.23 % of the total Sol token offer.

Founding sales tokens make up 12.92 % of the total Sol token offer.

Validator Sale-Token make up 5.18 % of the total Sol token offer.

Strategic sales stakes make up 1.88% of the total Sol token offer.

Coinlist auction sale token make up 1.64% of the total Sol token offer.

Team tokens make up 12.79 % of the total Sol token offer.

Foundation tokens make up 10.46 % of the total Sol token offer.

Community tokens make up 38.89 % of the total Sol token offer.

The Swiss Foundation, which has an independent board, holds the community token.These are used for marketing and grants.The tokens of the foundation are located in Coinbase Custody and Cold Wallets.The team's funds are located in a USD bank account.

The funds obtained from the token sales are distributed as follows:

3.00% partnerships

3.00% marketing

35.00 % team

35.00 % development

12,00% Professionelle Dienstleistungen & Rechtsberatung

3.00% taxes

6.00% office rent

3.00% other

How can you buy sol?

Solana attracts the interest of buyers from all over the world due to its quick business development and its growth.Every day, more crypto exchanges list for the trade against Fiat or other cryptos.Investors can buy Sol on Binance, Bitfinex, FTX, Coinbase and others.You can also stake it too!

The future of Solana - disruptive technology

Solana has the potential to revolutionize the DAPP Ecosystem with its next generation functions.The platform is an updated blockchain that solves many of the problems that have occurred in the known blockchain.Ethereum 2.0 is still a way out, so there is a chance that Solana could gain a strong foothold on the market.

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