![]() Inflation is set to reduce over the years. SOL currently has a 7.70% yearly inflation to incentivize validators to secure the network. With the transaction fee burning, distribution of validator fees and airdrops, supply metrics are shown on CoinGecko, Coinmarketcap and other price indexes may vary from each other.įrom May 2020 till the end of 2020, the Solana Foundation released 8 million tokens every month for the purpose of airdropping SOL tokens to educate and create awareness, grants and delegation programs for research and development, and selling tokens on primary exchanges. As of December 2020, 40,000 SOL have been burnt and been removed from circulation because of vote transaction fees. Solana’s latest transparency report states that validators spend 1 SOL per day in transaction fees for voting which is burnt and are removed from the supply. The 215 million tokens that aren’t in circulation are being held by the Solana Foundation for various incentives. Cloudbreak - Horizontally scaled accounts databaseĪccording to Solana’s block explorer Solana Beach, the total supply of Solana is around 497 and a half million tokens and 276 million tokens are in circulation.Pipelining - a transaction processing unit for validation optimization.Sealevel - parallel smart contracts run-time.Gulf Stream - a mempool-less transaction forwarding protocol.Tower BFT - a POH optimized version of PBFT.Proof of history (POH)- a clock before consensus.Some prominent features that Solana has are as follows: Solana recently raised a massive round ($314 million) of funding from big investors like Andreessen Horowitz and many others. Solana also scales at the rate of Moore’s law i.e after every 2 years the blockchain scales by default. The Proof of history allows nodes to sync with a clock which reduces computational ability when syncing with other nodes. 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. duration between events and message ordering. The innovative PoH in Solana is designed to create a ledger with the verifiable passage of time, i.e. 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 same choice. Each node relies on its own local clock without the knowledge of the other participants’ clocks in the network. This eliminates the need for the broadcasts of timestamps across the network, improving overall network efficiency.Ĭurrent issues with public blockchains don’t rely on time or make weak assumptions about participants’ ability to maintain time. ![]() Solana’s core scaling solution is a decentralized clock called Proof-of-History (PoH), built to solve the time problem in distributed networks where there isn’t a single, trusted, source of time.īy using Verifiable Delay Functions, PoH allows each node to locally generate timestamps with SHA256 computations. Founded by former Qualcomm, Intel, and Dropbox engineers in 2017, Solana is a single blockchain, Proof-of-Stake protocol whose focus is on delivering scalability without sacrificing decentralization or security.
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