Solana is one of the best-performing projects in all of 2021. But the real question is, is the hype for real to Invest 100 SOL. In this article, I’m going to share my research on that question. Then, I’ll evaluate some of the bold claims they’ve made like they are the fastest blockchain out there and solved the infamous blockchain trilemma.
This article is not financial advice only for educational.
I’ll also share why I think this guy will be the difference-maker for the long haul. So if you got your eyes on Solana and want to learn more, let’s dive right in.
Solana was a super complex project to research and understand. İt took me hours of reading blog posts, watching interviews, and even then, I feel like I’m just scratching the surface.
But I want to point out that many of the YouTubers I watched were straight-up sharing wrong information. İt wasn’t malicious or anything like that.
However, I can tell they skimmed through a couple of articles and summarized that info for us without really checking for accuracy. Specifically, there’s one key component about Solana that a lot of them got wrong. İ’ll share that with you in a bit.
It’s a third-generation blockchain that supports smart contracts and decentralized apps. So yet another ethereum competitor.
That’s what I thought at first, which is why I didn’t pay much attention to Solana when I first came across it. But that’s to my detriment. Because the closer I looked, the more promising things that I found.
For example, their network is designed to reach 710 000 transactions per second and 100 millisecond block times at its theoretical limit.
These are mind-boggling numbers, and it’s almost 30 times faster than the formidable visa network. Now, of course, this hasn’t been proven in the real world yet.
But they’ve already achieved industry-leading speeds such as 65 000 transactions per second and a 400 millisecond block time.
You can check out this table right here to see how Solana stacks up against another layer one blockchains like Ethereum, BCS, Polkadot.
So even at a fraction of its theoretical limit, Solana is still one of the fastest, if not the fastest, blockchain out there. This is all made possible by their impressive innovations on the technical side.
Proof of History PoH
They have eight specific innovations, but I want to zoom in on the most important one called proof of history poh. And this is where the huge misconception lies.
A lot of YouTubers paint this as the next evolution of proof-of-work or proof-of-stake. But that’s not the case at all. İt works in conjunction with Solana’s proof-of-stake algorithm. Read More…
Categories: SOLANA ECOSYSTEM
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