Solana a new type of cryptocurrency under the ticker code SOL aims to solve cryptocurrency flaws by creating a faster and scalable blockchain network that is much more secure and decentralised compared to other projects.
Since the coins inception in the middle of 2020 Solana has become one of the fastest networks that allows faster transactions, given this news the coin has increased in value over 2000% since it was created netting investors almost a 20x return if they invested right at the start.
Here are a few quick innovations Solana has created for the Blockchain Network:
- Proof of History – Solana’s POH system allows the system to have a more efficient throughput rate allowing transaction that get sent to be made quicker and to have historical tracking to track transactions.
- Tower BFT – This allows Solana’s POH system to essentially operate in a lag free environment meaning that when money is being sent there is little to no latency.
- Turbine – This allows Solana to break down packet sizes of data in smaller sizes which allows transaction to be finished faster and creates a place where bandwidth doesn’t slow down the network.
- Gulf Stream – This innovation allows Solana to cache its transactions which result in faster transaction speeds and less memory to be used on the network.
- Sealevel – This is a transaction processing engine that scales the GPU and SSD together which allows for a more efficient runtime and for transaction to run co-currently.
- Pipeline – Allows nodes in the network to be easily validated and copied across.
- Cloudbreak – Responsible for the reason Solana can scale its network as it allows the reading of transaction to be done simultaneously whilst optimizing efficiency.
- Archivers – Ensure the right data is stored in the nodes and can be checked of its validity of it.
Due to these innovations Solana has created it is around 10x more powerful than Bitcoin and 4x faster than Ethereum making it one of the fastest blockhain networks in terms of speed. However, when compared to the other projects like Cosmos that is faster, Solana shines in its transaction per seconds of 50,000 TPS whereas Cosmos only with 10,000.
Given that Solana has a reached a point where scalability and a fast blockchain network has been created without the compromise of security shows that this project has fixed the old slow blockchain network. This can allow more innovation within their project to be adopted by other creators which can allow blockchain to further progress in the future where other projects can be faster than Solana.
At this current time, we don’t see the network slowing down anytime soon in the markets, currently we have a bullish sentiment on Solana and we believe it can hit all time highs once again making it an easy top 5 block chain contender.