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Overview About Solana (SOL)

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Solana (SOL) has been one of the most explosive names recently when within just 1 year of its birth, the price of this coin has increased hundreds of times since the beginning. So what is Solana, and what is the highlight that makes it so outstanding, let’s find out.

What is Solana (SOL)?

Solana is an open-source project, born to support decentralized, permissionless financial applications and smart contracts with high performance.

Solana’s ecosystem uses the PoS (Proof-of-Stake) protocol, providing decentralization, and high security on a large scale. Solana can provide spatial scalability up to 700,000 TPS at a low cost, around $0.00005. That is also Solana’s main purpose.

Some highlight features of Solana

To achieve the above optimal scalability, in addition to using the Proof of Stake consensus mechanism, Solana also combines the following 8 functions:

  • PoH Solution – Proof of History: a clock before consensus: The consensus algorithm determines the time and order of transactions, thereby providing a time-coding means to offload network nodes when processing blocks.
  • Tower BFT: PoH-optimized version of PBFT: As the PoH optimized version of the PBFT consensus mechanism, Tower BFT allows this algorithm to work in asynchronous and optimized systems for maximum performance.
  • Sealevel: Parallel smart contracts run-time: Here, smart contracts run in parallel to optimize the running time of the Solana system
  • Turbine: A block propagation protocol: This protocol makes it easier for data to reach the nodes by breaking them up. You can settle transactions quickly.
  • Pipelining: a Transaction Processing Unit for validation optimization: Pipelining helps to ensure that the system’s hardware is always working efficiently when there is a stream of input data that needs to be processed through many steps.
  • Gulfstream: Mempool-less transaction forwarding protocol: Allows nodes to execute transactions ahead of time and can process up to 50,000 transactions per second.
  • Archivers: Distributed ledger storage: Allows any network node to copy information from the blockchain according to the space available on their hardware
  • Cloudbreak: Horizontally-Scaled Accounts Database: Optimized concurrent memorization and data readability.

SOL Token

SOL is a cryptocurrency issued by the Solana ecosystem itself. Some basic information about this coin (Statistical data at the time of writing):

  • Ticker: SOL
  • Token Type: Utility Token
  • Blockchain: Solana
  • Token Standard: SPL
  • Block time 400ms
  • TPS: 50,000 – 65,000 TPS
  • Total Supply: 511,616,946 SOL
  • Current Supply: 334,216,225.98  SOL

Trading SOL/USDT in 5ROI Global right here: https://www.5roi.com/exchange/SOL8/USDT

Solana’s development team

Project Solana is developed by technology experts from leading corporations in the world such as Qualcomm, Intel, and Dropbox. Among them are to be mentioned:

  • Anatoly Yakovenko: Founder – CEO of the project: used to be a software engineer at Mesosphere and Dropbox; Senior engineer director at Qualcomm Boulder and co-founder of Alescere.
  • Greg Fitzgerald: Co-Founder – Chief Technology Officer: former senior software engineer at Qualcomm Boulder; Alescere systems software engineer and chief product officer of Odama Health
  • Erics Williams: Head of Data Science and Tokenomics: former chief data officer and co-founder at Motion, VP of Data Science & Analytics at Odama Health, a researcher at CERN.

Along with many other prominent members.

Conclusion

Here are some general insights about Solana. Hopefully, after this article, you will have more knowledge to support your decision-making. Don’t forget to follow https://www.5roi.com/ to update more information!

Best regards,

Risk Disclaimer:

For investors, trading digital assets is both an opportunity and a challenge with outstanding profit potential. 5ROI Global only provides useful information for investors to grasp, refer to and not provide financial investment advice of any kind.

5ROI Global

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