Ethereum may not be a new term to you as a crypto enthusiast. This blockchain architecture has gained in popularity over the last few years, allowing Smart Contracts and Decentralized Apps to be written and run without any downtime, control, or intervention from a third party.
For example, Solana Blockchain has risen to become the most popular blockchain at the moment. It is one of the world’s first Web-scale Blockchains and fastest networks, with a reported throughput of 65,000 TPS (transactions per second). So, let’s stick with this blog to learn more about this new concept – the Solana network!
What Is Solana Blockchain and How Does It Work?
Solana is an open-source web-scale blockchain protocol that supports smart contracts, non-fungible tokens (NFTs), and a variety of decentralized applications (dApps). DApps and decentralized marketplaces will require a fully decentralized, secure, seamless, and highly scalable infrastructure, which this high-performance blockchain provides.
It employs a combination of cutting-edge processing technologies capable of handling thousands of nodes, allowing transaction throughput to grow in lockstep with network capacity.
Solana, one of the most widely used blockchains today, has a potential peak capacity of 65,000 transactions per second thanks to its speed and low transaction costs. Furthermore, the Solana ecosystem is rapidly expanding, as evidenced by Top Solana DApps such as 1Sol, Serum, Audius, Hedgehog, Anchor, and Raydium.
The SOL token, which is native to Solana’s blockchain, provides network security through staking as well as a means of payment. The Solana token is now ranked #8 on Coinmarketcap, with a price of $87,84. (as of 25 Feb 2022).
There are many other Top Solana Ecosystem Tokens by Market Capitalization, such as Tether, Terra, Chainlink, and others, in addition to SOL.
Discover the most important Solana Blockchain innovation
1. History’s Proof (POH)
In the Solana Blockchain, which addresses the clock problem in today’s blockchain-based networks, it is a clock that runs before consensus. Bitcoin previously used the Proof-of-Work (PoW) consensus mechanism, whereas Ethereum and other blockchain blockchains like Qtum, Cosmos, and NEO now use the Proof-of-Stake (PoS) consensus mechanism.
All of these mechanisms cause a transaction time issue, which explains why transactions on the Bitcoin network take so long to confirm. Transaction processing could be inefficient as a result of such time differences.
Solana, on the other hand, has used a brand-new timekeeping technique called proof-of-history, which has been shown to outperform the majority of the aforementioned methods. “What is Proof of History Solana?” you might wonder.
On top of Proof of History, the Solana public blockchain uses a consensus mechanism called Tower BFT, which is a PBFT-like algorithm that achieves network transaction consensus using the synchronized clock authorized by PoH.
Unlike PBFT, Tower Consensus priorities liveliness over consistency. To reach an agreement, nodes, such as PBFT, increase their timeouts exponentially, but because the ledger is also a trust less source of time, nodes can observe and assess the timeouts of all other validators in the network.
Solana uses a separate but linked protocol called Turbine, which was inspired primarily by BitTorrent and is designed for streaming, to transmit blocks (communicate blocks between validators) independent of consensus.
It’s a block propagation protocol that breaks data down into smaller chunks to make data transmission between nodes easier. Turbine aids Solana in resolving bandwidth issues and improving the network’s overall transaction processing speed.
Gulf Stream uses the mempool concept to act as a waiting room for the next trade, allowing forward transactions to be validated before the trade is completed, which is an innovative feature that allows Solana Blockchain Open-source to reach 65,000 TPS. As a result, network validators can execute transactions ahead of time, reducing confirmation time and validator memory requirements for unconfirmed transaction pools.
5. The Level Of The Sea
Sea level, which has never existed in any other blockchain network, is another unique feature that has many Blockchain experts showing their preference for Solana Blockchain.
Consider a human who has to complete a number of tasks in a single day. He or she must complete all of the tasks in the correct order in order to complete them all. You could, however, complete such tasks simultaneously if you have a duplicate of yourself. You’re using sea level in that case, which Solana achieves with its smart contracts.
The computational capacity of the Solana network will double every time Nvidia doubles the number of SMID lanes. To summarize, Sealevel allows multiple transactions to run simultaneously on the same chain, resulting in a faster network runtime.
Pipelining is a common technique in CPU design that refers to the process of routing a stream of input data to various pieces of hardware for processing. This allows for faster replication and validation of transaction data across network nodes.
Data fetching at the kernel level, signature verification at the GPU level, banking at the CPU level, and writing at the kernel level are all performed by the Transaction Processing Unit (TPU) on the Solana network. By the time it starts sending blocks to the validators, the TPU has already accumulated the next batch of packets and is beginning to sign them.
7.Break in the clouds
It isn’t enough to simply scale computing. In terms of both size and access performance, the memory used to keep track of accounts quickly becomes a bottleneck. As a result, Solana Network developed Cloudbreak, a state architecture optimized for concurrent reads and writes across RAID 0 SSD configurations. Each additional disc increases the amount of storage available to on-chain programmes while also allowing simultaneous reads and writes across the network’s 32 threads.
Validators delegate data storage to Archivers, a network of nodes on Solana. Archivists are not allowed to attend consensus meetings. The history of the state is fragmented and erasure-coded.
Final Thoughts: Solana Blockchain is a great place to start
Solana is a fast network with a revolutionary Proof-of-History consensus methodology, sub-second block times, and low fees. Any good excel-based project necessitates quick confirmation times and low network overhead.
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