Solana is a new blockchain platform that was launched in March 2020. It is not very widely known outside the crypto community just yet but is gradually gaining popularity in the community. Solana is a safe, fast, and censorship-resistant blockchain platform, which provides an open infrastructure that is necessary for global adoption. It consists of many out-of-the-box features, which do not only provide security but also decentralization. It has been claimed by many insiders that Solana is looking to take the spot of Etherium in the crypto platform, with faster transactions and better features.
This fourth-generation blockchain and cryptocurrency platform provide greater scalability by leveraging an open infrastructure. It comprises many unique technologies that provide enterprise-level security and incomparable speeds to the users. There is news that Solana can process close to 50,000 transactions per second, which is significantly faster when compared to any other blockchain, even Ethereum.
Solana consists of some unique systems which make everything faster and easier.
Consensus mechanism: Solana uses an improved version of PoS, which is known as Delegated-Proof-of-Stake. Although this feature exists in Ethereum as well, it is significantly faster in Solana. It allows Solana token holders to become validators who process transactions and earn rewards.
Proof-of-History: PoH or Proof-of-History puts timestamps on each transaction, which enables the nodes to have a schedule for each transaction. As a result, the time needed to confirm blocks in the network is significantly reduced, thereby making the transactions faster in Solana.
Tower BFT: An improvement over the Byzantine Fault Tolerance system, the Tower BFT system allows validators to vote on the state of the ledger, thereby improving network responsiveness. Besides this, the system also records previous votes.