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Solana
(SOL)
$49.7821USD
-4.92%(-2.5761)
0.00169743 BTC
Watch
Low(24H)$47.82 USD
Market cap$16,734,654,360.26 USD336,790,571 SOL
Circulating supply336,790,571 SOL
High(24H)$50.70 USD
Volume(24H)$6,997,286,849.76 USD140,558,000 SOL
Max supply511,616,946 SOL
2.86
24h
-4.92%
7d
-3.91%
30d
-51.08%
3mo
-44.06%
6mo
-76.61%
1y
74.8%
All
- -
K Line
Trend
1d
1w
1mo
6mo
1y
3y
All
Solana (SOL) Intro

Solana is an open source decentralized blockchain platform, < SPAN class=" qL-font microsoftyahei ql-author-58030660"> Unlike other blockchains, Solana uses a hybrid consensus algorithm that combines proof of history (PoH) with proof of stake (PoS) to enable the network to execute up to 50,000 transactions per second. Solana was launched during the 2017 ICO boom to address the time it took for networks like Bitcoin and Ethereum to reach consensus, Solana's inclusion of PoH in its consensus algorithm is in sharp contrast to other consensus mechanisms that are well known.

Solana PoH uses cryptography to establish a decentralized trusted time source for the system, providing an immutable record of historical events on the blockchain, enabling historical data to be stored in chronological order but independent of tracking timestamps and local time zones. Solana's PoH algorithm is mainly used to ensure node synchronization, not directly used for consensus, and runs in parallel with its PoS layer. This allows the node to create its own timestamp, and the leader of the node sorts the message, validating the node to verify the transaction ordering. Once the transaction is sorted and received from the lead node, the verifier settles the transaction and publishes their signature as soon as they confirm it. These confirmations are critical to Solana's functionality and are considered votes by the consensus algorithm. This is a good innovation in PoS combined with to provide a voting mechanism to elect leaders on the web.

< SPAN class=" qL-font Microsoftyahei ql-author-58030660">Solana includes many other innovations, Allowing Solana to outperform the performance of most other blockchain platforms, even centralized systems. This is thanks to its Tower BFT consensus, which is similar to the Practical Byzantine fault tolerance (PBFT) system. Solana's Tower BFT allows access to global time sources via PoH, which not only enables it to oversee the functionality of the entire blockchain, but also speeds up the consensus process by minimizing transaction latency and messaging overhead. Another important part of the Solana ecosystem is Turbine, which helps seamlessly transfer data to nodes on the blockchain. Similar to BitTorrent's spread technology, Turbine breaks down data into smaller packets, They are then sent along with erasure codes. Gulf Stream protocol to reduce the validation and leader switching time and reduce the memory stress of verifiers in the unvalidated transaction pool. In addition, Solana employs a hyperparallel transaction processing engine called Sealevel, which allows the network to process thousands of smart contract calls simultaneously. Pipelining infrastructure Solana can also verify transactions more quickly and replicate transaction information across nodes, regardless of their hardware specifications. All the scalability required on the network is provided by the Cloudbreak protocol, which ensures that data is read and written simultaneously across the network, while the archive is used to download data from the blockchain to its distributed ledger store.

Solana networks do not need to rely on sharding or any other type of Layer 2 solution to maintain their speed and scalability. This allows developers to build directly on the blockchain, which is much easier than working on Ethereum or Bitcoin.

< SPAN class="ql-font microsoftyahei ql-author-58030660">Solana's native cryptocurrency is SOL, SOL is used in a similar way to ETH on Ethereum, but SOL holders can verify transactions by pledging SOL PoS consensus. It also enables users to participate in the governance process, receive incentives, and pay for gas.

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