Play as Solana in one episode - History, Improvement and Future

introduction

Solana received a lot of money in September, and the performance of the property is evident.

SolanaIt is the “heterogeneous” place in the blockchain world. Because they use different clocks than existing blockchains, existing blockchains include Bitcoin, Ethereum, Cosmos, etc. given the time and condition, and only the birth of a new block can create a similar world.

Solana provides worldwide clock access and cuts hash time in real time by updating events. Instead of concatenating each block's hash, network validators always check them on the block. The hash itself is hashed. This process is called proof of origin (POH).

P1

Get to know Solana

(1) What is Solana?

SolanaFounded in 2017 and based in Geneva, Switzerland.The managers, Anatoly Yakovenko, Greg Fitzgerald and Stephen Akridge, worked for Qualcomm. This team of experts is dedicated to the creation of Solana by:Public channels that measure according to Moore's Law and deliver high performance and low cost for large applications.

After the hard work of the group, Solana liked the colors of many capitals. In July 2019, Solana raised US $ 20 million in Series A funding led by Multicoin Capital. Participants include Distributed Global, Blocktower Capital, Foundation Capital, Blockchange VC, Slow Ventures, NEO Global Capital, Passport Capital and Rockaway Venture Capital.

Here are some highlights of the first events before Solana's funding:

A year later, with the advent of DeFi Summer, people noticed that Ethereum had died. The day before DeFi's appearance, the Solana team launched the Ethereum bridge.Wormhole protocol,Knowledge of the exchange of assets between Ethereum and Solana provides new options for many Ethereum DeFi operations..Prior to the full implementation of the Layer 2 scale-up plan, Solana provided the platform and public channels for tasks that could move quickly and inexpensively without a contract.

While the Ethereum issues were presented to everyone, Solana's priorities resulted in many positive workloads and the migration of several users.

(2) What is SOL?

SOL is part of the Solana chain.proterozoic, using PoS protocol approval, and miners delegate SOL for certification to participate in the monitoring network and receive rewards.There are three main applications in SOL: procurement, exchange rates, and management.

SOL has risen more than 36 times, from $ 1.5 at the start of the year to a high of $ 56. Currently, SOL's retail is 12th, and SOL's annual turnover is 2357%. , in front of the other tokens.

SOL's token mechanism was developed, the initial price increase of SOL was 15%, then reduced by 15% per year and remained unchanged even after reaching a stable price for a long time (1% -2 %). This token process speeds up the initial supply of SOL and stabilizes the next SOL.

(3) Special Solana application

SolanaIt is very efficient and can support new types of applications that were not supported before.For example: Solana can check the block header of all Bitcoin history (from the creation of a block to the new block). This is especially true for Bitcoin players like Litecoin, Zcash, and even Ethereum. Solana can check the current state of other local chains, so that Solana does not have to rely on Oracle (like Cosmos IBC) to understand the external state.

This means that Solana can support unregulated cross-chain DEXs. Trade is done in Solana and peace is made by the local chain. And because POH tracks the clock in blocks, not the clock in blocks.In terms of block action, Solana guarantees solid guarantees. Combined with the incredible performance of Solana, the network can support a wide range of orders.

P2

Solana's innovation and quality

(1) Solana's innovation

The main objective of Solana is to provide the public with high performance and low cost for large applications. To achieve this goal, the Solana team focused on the research and development of eight new development projects.

The most important thing to know about the old concept of Solana is to use the main network of Solana.Proof of Function (PoH) clock mechanism.

We all know that the timing of the blockchain is over and all nodes keep this mass public data, which not only ensures the reliability of the blockchain but also reduces its performance. Separate every 15 minutes. andSolana allows anyone to create local schedules, which improves overall performance by eliminating the need to wait for the entire blockchain network to synchronize data with state data.This compresses Solana's average block of build time to 400 milliseconds, and for most DeFi operators the operating costs are staggering as well.

Using historical evidence, each node can generate historical data to prove that an incident has occurred at some point. PoH is a delay time test (VDF) based on SHA256. The SHA256 loops quickly so that each output becomes the next input. The loop is metaphorical and the number of iterations and events is closed.

Thanks to the PoH mechanism, the throughput of Solana (TPS), the speed and efficiency of Ethereum. And the 7 remaining innovationsEffectively reduces the problem of "triangle can not be" in areas of public channels.

(2) Advantages of the public channel Solana

1. Low cost

ETHereum's exchange rates have affected users using traditional DeFi. Assuming the current ETH is 2000 USDT and gas is 30 Gwei, the exchange rate for delivering water from Uniswap V3 is around $ 40.

Solana costs 0.000005 SOL to complete the deal, which is around 0.017 cents. Most DeFi transactions are not worth this price.

2. Scalability

You can achieve scalability by reducing exchange rates and speeding up data validation. For the general public, this means that there are many applications that can be supported. Therefore, if a project is to select public channels, improvements, maintenance costs, and user experience should be a major concern.

Consequently, the 50,000 TPS developed by the public channel Solana have a sufficiently strong scalability to attract new applications. A place for Solana.

Ethereum has always been a leader in smart contracts for public channels, and you can see the status of the public chain head through its Full Cost Lock (TVL). Ethereum's TVL was $ 80.15 billion, BSC $ 12.17 billion, Polygon $ 5.03 billion, Terra $ 2.75 billion, and Solana's TVL trade cap was $ 960 million.

P3

Overview of Solana's ecology

In the current Solana ecosystem,There are already mature projects already completed for other public chains such as Tether, USDc, Chainlink, Terra and native Solana based operations such as Serum, Raydium and Oxygen. However, Serum and Raydium dominate Solana's TVL.

The image below is a health map recently released by Solana, and you can see that there are many functions in the Solana ecosystem. It's not like Ethereum, but it can support the development of the Solana ecosystem.

Solana's DeFi status has hit the bar.AMM Decentralized Exchange, DEX limité, Stablecoin Trading Protocol, Wallet, Pré-commande, Stablecoin Algorithm, Bond Contract, Derivatives, Launchpad, Options, Yield Farming, Asset ManagementThe monitoring of several configurations can be integrated and redesigned with the future DeFi protocol from Solana.

This includes a very well-developed project: the positioning serum at ecosystem level is also a market-leading decision for the entire chain. At the end of the module, like API, channel registration, etc., we provide an estimate of existing assets and lower assets of Crypto's oracle Python machine.

P4

Solana is officially off cycle.

Will Solana be the killer of Ethereum? Although not yet able to extract the truth,Solana's reputation turned out to be a recognized artist and at low cost to the public.Solana's innovative design enables the line to measure DAPPs for millions of dollars without downtime or security. DeFi can reach its full potential by using Solana in conjunction with the core limitations of Serum and other new features such as MDA powered by the Raydium ecosystem.

Supported by venture capital and a lot of research and development, the public channel Solana was finally born as ecosystem processes improved.Today, Solana is one of the public channels interested in competing for Ethereum rights.Among the many competitors, Solana needs to be ahead of the competition, so let's see how far she goes in the public channel!