2021-03-15 18:17:51
Fast as the light : Solana
Another fast & secure blockchain, a true competitor of Ethereum & Elrond is Solana.
As far as the scalability is concerned, Solana creates a block with a sub-second confirmation (block time of 400 milliseconds), while the average fee/sec is $0.00001 and can accommodate 50.000 TPS.
Another interesting thing about Solana that offers its high performance is its consensus, Proof of History. Despite the name, Proof-of-History is not actually a consensus such as PoW or PoS. PoH is a cryptographic clock in the blockchain of Solana that allows its nodes to agree on the ordering events and time, without needing to talk with each other. Each node can maintain its own clock by simply encoding the time passage in a simple, sequential-hashing Verifiable Delay Function SHA-256.
So far, Solana has attracted over 100 projects on DeFi, Web3 & blockchain gaming, just right for global adoption.
The crypto derivative platform FTX & Alameda Research have launched on Solana Serum, the worlds first decentralized spot and derivatives exchange.
Furthermore, the stream platform, Audius, is also working on building its system on Solana, while Chainlink aims to develop a high frequency oracle so as to provie price updates every 400 msec. Another know partner, the thriving payment network, Terra, supported by another impressive team, is built on Solana platform.
The CEO of Solana had previously worked as a software developer in Dropbox & Qualcomm while the team has experience from several well-known companies, such as Apple, Intel, Qualcomm, Google & Netscape.
Tokenomics
Users can also delegate and stake SOL token and earn additional rewards.
The current market cap of Solana is 3.8 $ Billion, with a circulating supply of 267 $ Million. Yes, it has a relatively high market-cap, regarding altcoins, but it is another magnificent project, hence there is more space for growth. (edited)
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