Solana

Solana is an open-source blockchain project. Its architecture is based on Proof of History. The main assumption of its architecture is to prove the existence of a combination of software algorithms set and blockchain implementation which removes software as a performance bottleneck.

Solana has a mechanism for time synchronization. All nodes elect one node, which will be a leader providing a universal source of time for all of them in a decentralized network, which means that transactions need less time to be verified.

For more information, please see its official documentation.

Solana Labs

Solana innovations#

Proof of History - a clock before consensus
Tower BFT4 - a PoH - optimized version of PBFT
Turbine - a block propagation protocol
Gulf Stream - mempool-less transaction forwarding protocol
Sealevel - world's first parallel smart contracts run-time
Pipelining - transaction processing unit for validation
Cloudbreak - horizontally-scaled accounts database
Archivers - distributed ledger storage

Why Solana?#

The highest transactions per second rate. Using PoH allows Solana blockchain to currently handle over 50 000 transactions per second. It means that it is faster than Visa.
Fast confirmation with the average time of 0.4s.
Low transaction cost with the average fee per transaction of 0.00025$
Perpetual oracles updating, which pushes updates to the blockchain in a sub-seconds interval eliminating arbitrage.
No front running, meaning that each transaction has its timestamp, which disables the decision on the order, in which transactions get recorded onto the blockchain.
No sharding, meaning that there is no security risk being less vulnerable to consensus attacks.