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Solana
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=== <u>Solana itself</u> === Solana is a blockchain that focuses on improving the scaling factor, as well as the speed and cost of transaction. A ledger that has been fully committed to sharding enables this. It also has built-in privacy features like zk-SNARKS cryptography to protect your data from snooping third parties. In addition, it will have a state-of-the-art evolution strategy and safety measures so that users of this platform can enjoy greater credibility when transacting with each other or with third party authorities on their own terms. Solana is projected to be able to handle up to 50.000 TPS (transactions per second) without losing decentralization or compromising its governance model. '''Key Concepts:''' · Speed with Proof of History (PoH): Solana uses a unique system called Proof of History to keep track of time, making transactions incredibly fast, targeting 65,000 transactions per second. · Security with Proof of Stake (PoS): Instead of energy-intensive mining, Solana uses PoS, where validators secure the network by staking Solana tokens (SOL), enhancing security. · Scalability: Solana's design allows it to grow and handle more users and DApps without slowing down. · Low Fees: Solana offers affordable transaction costs, making it suitable for everyday use. · Innovations like Turbine and Gulf Stream: These systems help process thousands of transactions in parallel and optimize storage, further boosting efficiency. '''Overview:''' * Solana is called a high-speed blockchain because it achieves block times of 400 ms and is capable of handling more than 50,000 transactions per second because it uses a proprietary timestamping system: proof of history (PoH) * The core team behind Solana is high profile with former employees from Qualcomm, Apple, Dropbox, Intel, Microsoft, etc. * Solana received large investments of over $25 million in 2019 from major investors including Multicoin Capital, Foundation Capital, Distributed Global, Blocktower Capital, NGC Capital, and Rockaway Ventures. In essence, Solana is a blockchain that has been designed to scale to meet the demands of every day users and large corporations with greater ease. You can even incorporate your data into the Solana network and not be censored for doing so.
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