What is Solana? Everything you need to know about the Ethereum killer!
The Solana Network is a decentralized, secure, scalable and fast ecosystem. The project was created with the goal of becoming a platform for decentralized applications (Dapp) and is now one of Ethereum’s main competitors.
The speed of transactions, the support of smart contracts and the high scalability of the network have made this project one of the leading ecosystems in the blockchain industry.
The problems of the Ethereum network in the scalability debate have enabled the network to reach its current position more quickly, and it can now be considered the most serious threat to Ethereum and its popularity.
In Solana, each block is called a slot, and a special validator called a leader builds them. Each validator in this network is a member of the network cluster. In this network, each cluster has only one validator and its task is to add blocks or slots to the general office of blockchain.
This blockchain uses Proof of History to increase speed and productivity. Proof of History allows users to create a series of records and use them as confirmation to determine the exact date of events. Using such a mechanism makes the Solana network fast and light; Because there is no need to spend time on consensus on time labels.
Proof of history is in fact a universal reference in the Solana network for recording time. The main purpose of this technology is to establish network security without sacrificing speed.
All network transactions and events are hashed with the SHA256 hash function. With this function, the output is unique and it is almost impossible to guess. After hashing, each output is used as the next hash input.