Newer projects are getting built on Solana (SOL) Network.  The DeFi tokens on Solana surged by more than 50% in just April 2021. This is because of the many high-profile making Solana their go-to blockchain.

Solana, the altcoin project is literally on Fire. One of the users pointed to how Solana is the future of video games/metaverse. Further stated their NFT’s for Star Atlas is out and the game itself releases on the 28th.

Solana is an incredibly fast blockchain, which can execute 60,000 to 65,000 transactions per second.  Thus, it is an incredibly fast blockchain. It goes like 60,000 to 50,000 transactions per second on the blockchain.  And, it is possible to send a million transactions for about 10 dollars. If the same thing was done on Ethereum it will be 200,000 to 300,000 dollars. Thus, Solana is gaining traction because they are really decreasing the price of transactions.  And, they are increasing the speed as well.

The idea of Ethereum is to work like a decentralized computer.  The mechanism was based on Proof of Work. As opposed to taking PoW, the Solana team thought through whether there was a different way to do this.  So, rather than PoW or PoS – they conceived the idea of Proof of History. And, this gave for the real breakthrough by which Solana is able to get so many transactions.

So, in essence, the problem with all the decentralized systems is how to synchronize yourself. How do you know what is actually true in the decentralized fashion. And, the synchronization of information is quite difficult to do, but if you create a trustless clock, then you could solve that problem.

So, the Bitcoin Blocktime settles every 10 minutes. Or, a new block is created every 10 minutes. And, after 6 confirmations it is settled. In essence, the Bitcoin clock is going one click every 10 minutes. However, every tick on the Solana clock could be 400 micro seconds. This is huge.

The fingerprint of the transaction information is defined by the hash rate. And, once they figured out how they do it with the hash rate, Solana took the same information without hashing it over and over again as when the hashing process happens over and over again it took a certain amount of time. They found out a way to bring down time using apt technology to verify transactions. Thus, Solana is able to work really fast transactions.

There are a growing number of projects on the blockchain.  There are also wallets and exchanges which support the Solana Ecosystem.