The Solana blockchain is a relatively new blockchain that leverages open infrastructures to provide users with greater scalability. Numerous blockchain infrastructures like Solana allow their users to make money with Bitcoin and other altcoins.
This blockchain makes use of fresh and innovative technologies to offer faster transaction speeds and stronger security features. These innovative features make the Solana blockchain the first-ever web-scale decentralized network.
The Solana Blockchain was created by Anatoly Yakovenko in 2017. The team behind this blockchain includes top developers and former employees of top software companies like Intel, Netscape, Google, Microsoft, Dropbox, and Qualcomm.
The primary objective of this project is to create a network for decentralized nodes to match the performance of a singular node. Solana’s ability to carry out this function sets it apart from other blockchains like Bitcoin and Etherueum.
In terms of speed, blockchains like CryptoCasinos,Bitcoin and Ethereum rely on a proof of work system that supports up to ten transactions per second. However, the Solana blockchain uses a practical byzantine fault tolerance-based (PBFT) Proof of Stake (PoS) that supports up to 50,000 transactions per second. Similarly, when compared to other new or upcoming projects like Ethereum 2.0 and Polkadot, the Solana Blockchain does not farm out its operations to other chains.
How does the Solana Blockhain Work
To function effectively, the Solana Blockchain is made of many proprietary systems which operate simultaneously to create the reliable and efficient service this blockchain offers. These proprietary systems on the blockchain can be divided into the following parts:
In comparison to other blockchains, the Solana network is a Delegated-Proof-of-Stake (PoS) network. The delegated proof of stake network is faster and more efficient than the proof of stake network. However, it is vital to note that all blockchains need validators for transactions. As a result, only users who hold the Solana token act as validators for transactions.
Validators are rewarded whenever they validate transactions and add them to the blockchain. Similarly, this blockchain allows coin holders that are not validators to delegate to validators to receive gifts and bonuses.
One advantage the consensus mechanism of this blockchain has over other blockchains is that validators are not required to communicate with each other to determine a sequence of events. Instead, all validators maintain their time by integrating the passage of time using the SHA-256, sequential-hashing verifiable delay function (VDF).
Proof of History (POH)
The Proof of History is a vital part of the Solana network. This proprietary system speeds up the rate of transactions by adding timestamps into all transactions that are been carried out.
The advantage of the proof of history is that it creates timestamps that enable the node to set out a sequence of events or series of transactions. As a result, the proof of history system serves as a clock for the Solana network.
The Tower BFT system is a massive upgrade to the Practical Byzantine Fault Toleration (PBFT) system used by other DPoS blockchains. The Tower BFT system improves the effectiveness of the Solana network by providing a platform for validators to determine the state of the ledger.
Also, the Tower BFT system has all records on previous decisions made on the ledger. This system uses these previous votes to speed up the validation process by allowing validators to refer to their former votes.
On the Solana blockchain, the Gulf Stream system eliminates the need for a mempool. If you are not familiar with the term mempool, it simply refers to a waiting area for transactions before they are picked and moved into a block.
On the Bitcoin blockchain, miners are allowed to which highest paying transact they want to process in the mempool. However, on the Solana network, the Gulf Stream system uses a strategy to move transactions to validators before a set of transactions are validated by validators.
Another proprietary system is the Sea Level system. In the Solana ecosystem, the Sea Level system acts as an executor of smart contracts which can run parallel to each other. Also, identical smart contracts executed using the Sea Level system can leverage the same protocols during the execution phase of the contracts.
The advantage of this system is that it allows for the simultaneous execution of numerous smart contracts that run on the same protocols and are executed parallel to each other.
The Pipelining protocol is a transaction processing unit that assigns flows of input data to different hardware on the blockchain. Each hardware will receive input data based on its specifications. The Pipelining protocol helps to shorten the validation time on each block in the blockchain.
Another proprietary system used by the Solana ecosystem is the Turbine. The Turbine protocol receives essential data and divides it into little pieces of data. The smaller set of data are then faster to the nodes. Apart from reducing the size of data, the turbine protocol ensures that less bandwidth is used during the whole process.
Solana’s network account database is called Cloudbreak. The Cloudbreak system improves the pace of data storage by creating a system that reads and writes data simultaneously. This proprietary system works closely with other systems like the Pipelining protocol and the Archivers protocol.
When compared to other blockchains like the Bitcoin and Ethereum blockchain, the Solana blockchain provides a faster and more efficient transaction process using innovative systems. Similarly, the Solana blockchain is the first-ever web-scale decentralized network.