Idea & Token
Solana is another try to create a scalable blockchain with fast transactions. The team announces an impressive number of 710 thousand TPS and they are going to reach it with “off-the-shelf hardware” and without other technologies like sharding! For that goal Solana uses the Proof of History concept. This technology allows nodes in the network verify the time and order of events without witnessing them directly. This drastically reduces messaging between nodes and makes the processing of transactions separate from consensus. As a result, we get a platform for DApps with ability to work in spheres where fast transactions are vital like exchanges, payments, web services, etc. Unlike other older projects, Solana uses the Avalanche consensus protocol to reduce the transaction confirmation time to less than a second. For ledger storage, Solana uses Proof of Replication to eliminate the necessity to store entire ledger on a single node. Instead, it’s distributed among nodes while keeping the ledger integrity. For developers, Solana will provide support of all smart contract languages supported by LLVM.
The team consists of 12 members including 6 engineers, as well as specialist at sales, marketing, operations, business development, and token economics. The project CEO Anatoly Yakovenko previously led development of operating systems at Qualcomm, distributed systems at Mesosphere, and compression at Dropbox. He also holds 2 patents for high performance operating systems protocols. Solana has also several partners including globaliD, Hard Yaka, Helium.
So, among multiple projects claiming to solve the scalability and speed issues of blockchain, what makes Solana different? Let’s begin with minuses. They don’t have an MVP yet, bad news. The main network release is planned to Q4 2018. What we see as pluses – an excellent team showing that the guys really work and are capable of reaching their goals. And their partners will help them. Good hype around the project guarantees a good ICO and positive short-term perspective. Anyway, they must hurry up.
Solana claims to reach fantastic 710 thousand TPS without sharding, and they do have a good chance to make it real.
Solana ICO datesexport to calend
Blockchain is an implementation of a fault tolerant replicated state machine. Current publicly available blockchains do not rely on time, or make a weak assumption about the participants abilities to keep time. Each node in the network usually relies on their own local clock without knowledge of any other participants clocks in the network. The lack of a trusted source of time means that when a message timestamp is used to accept or reject a message, there is no guarantee that every other participant in the network will make the exact same choice.
The PoH presented by Solana project is designed to create a ledger with verifiable passage of time, i.e. duration between events and message ordering. It is anticipated that every node in the network will be able to rely on the recorded passage of time in the ledger without trust.