![]() When a miner creates a new block, they add the local time and date to it. On the Bitcoin network, blocks are sets of operations that haven’t been organized. So why would you need to sync a blockchain? Let’s find out by looking at Bitcoin as an example. It all comes down to the blockchain synchronization algorithm introduced by the creator of Solana, Anatoly Yakovenko. But PoS is nothing new, and it doesn’t let you reach the kinds of network speeds Solana has on its own. It also provides security and completely eliminates the possibility of a 51% attack (to find out more about proof-of-stake, check out our previous article). ![]() PoS allows you to reduce computational resources, and any network node that owns coins is a potential validator. Solana was created in order to be a high-performance, secure and scalable network (remember the blockchain trilemma?) It is based on the proof-of-stake (PoS) consensus mechanism in combination with proof-of-history (PoH). In short, this is a very, very fast blockchain, and it’s incredibly cheap too – commissions on transactions are only about one hundredth of a cent. In fact, Solana can theoretically process over 700,000 transactions per second, depending on a number of factors.įor comparison, at the time of writing Bitcoin had a TPS of 3.2, Ethereum’s was 12.4 and Solana’s stood at 3,900. The block generation time is just 400 ms, and the network achieved 60,000 TPS (transactions per second) during its initial launch. ![]() The Solana blockchain appears to be free from all these issues. It seems as though there’s no way of striking the right balance. Blockchains require a huge amount of computing power to operate and, as decentralization becomes more popular, transactions take longer to process, commissions increase during peak loads and assets can get stuck in the mempool. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |