Solana Token: High Performance Smart Contracts Blockchain?
The race for the best, high throughput blockchains is heating up and at the fore is Solana ICO. And on its website, we are greeted with data and metrics that show Solana as being capable of supporting up to whooping 710k transactions in a single second, on a 1GB network and without any sharding or data partitioning.
Well, that’s puzzling as much as it is exciting!
In the middle of the many exciting and high-performance projects that throw around massive TPS numbers, there’s a huge reason not to believe each of them. It is only logical to accept the huge TPS numbers and allegations right after an independent party performs thorough verification. For Solana, it is a baffling hybrid consensus mechanism.
What Is Solana?
Everything about the Solana project is unique and exciting. It is a type of blockchain whose architecture is centered on Proof of History – a system for authenticating order and the passage of time. Proof of History on this platform will then work hand-in-hand with one of the two consensus algorithms, notably Proof of Work (what’s used on BTC) or Proof of Stake (what’s used on Ethereum’s Casper).
It is true on the blockchain as it is on the internet that not being able to be on a consensus on time often is a complex problem. However, this PoH serve as a way of encrypting trustless passage of time.
Signals On This Solana High Performance Smart Contracts Blockchain
Solana’s MVP is already on GitHub having been released a while ago. Greg Fitzgerald who is the CTO said a single node test of this blockchain ran at a massive 35k TPS and they would intensify this number during their fill testnet. He said that it would run on several thousand nodes.
Of course, achieving 710k TPS is no mean feat and even their high-caliber team who recently released a prototype (called Avalanche). And so, for them to hit this target and deliver on the promise, lots of hard work will undoubtedly need to be pumped in. There are no shortcuts, and even their Telegram channel’s 10 thousand members are as enthusiastic as you probably are.
Verification To Ensure That 710k TPS Doesn’t Remain An Allegation
First, there’s the honest approach whereby Solana tries to keep all nodes and verifiers honest. The PoH algorithm randomly and deliberately discharges an invalid hash as Solana ensures every verifier that validates the emitted invalid hash is slashed.
Who Is Behind Solana Token?
Being the founder and CEO, Anatoly Yakovenko is aided by Greg Fitzgerald, the project’s co-founder and CTO and Eric Williams, Ph.D., another co-founder and Chief Scientist. Others are Raj Gokal, Alan Yu, and Stephen Akridge. Looking at this techies, one thing is visibly synonymous – over ten years of experience in diverse fields.
Solana Token Conclusion
With a focus on this blockchain right now centered on performance, there’s no doubt how high the TPS goes will influence the future of Solana. At this particular stage, however, how the team plans to reach the target is still blurred.