What is Solana (Sun)? How does it work?

1 What is Solana? What makes it special in the ecosystem?

Solana is a network of high-performance cryptocurrency that has an interest in academic fields due to its innovative approach to addressing the scalability and efficiency challenges of distributed networks.

Unlike other blockchains such as Ethereum 2.0 and Cardano, Solana introduces the concept of Proof of history (poh) As a complementary mechanism Stake evidence (POS),It is intended to improve the temporal synchronization and efficiency of transaction validation.

But what is poh? Basically, encryption algorithms Allows nodes in the network to see the time sequence of events There is no need for constant communication between them. This is achieved by a verifiable delay function (VDF) and generates a set of hashes that act as “cryptometric clocks.”

This innovation significantly reduces messaging overload in Byzantine fault-resistant systems, allowing transaction end times in milliseconds.

2 The history of Solana

The story of Solana begins with the founder Anatoly Jacovenko. Anatoly Jakovenko is a Ukrainian system engineer who moved to the United States when he was young. Before founding Solana, Yakovenko worked for Qualcomm and Dropbox. There he gained experience in distributed systems and high performance programming.

I was still working at Yakovenko at Dropbox in 2017 He had an innovative idea on a night of caffeine-induced insomnia. In that state, he came up with the concept of a “crypto clock” that allows events and transactions to be ordered on the blockchain without the need for constant communication between nodes.

This idea was realized through the Proof of History Mechanism (POH). This marked a milestone in the evolution of blockchain by providing an efficient way to examine the passage of time and order transactions.

Yakovenko was then associated with Ex-Companion in Qualcomm by Greg Fitzgerald to develop this idea. Together they founded Solana Lab (formerly known as looms) in 2018. In February 2018, they published Solana Whitepaper and began internal testing.

The main network of Solana and its native token, Sol, was launched in March 2020. Since then, Solana has been recognized for its ability to process thousands of transactions per second thanks to its innovative focus on temporary synchronization and transaction processing efficiency.

3 How does Solana work?

As I pointed out before, Solana’s design focuses on maintaining verifiable time sequencesuses the POH mechanism. Similarly, the network organizes the nodes of the leader and verifier. The roles of leaders and validators alternate throughout elections based on stock proof (POS).

1. The role of a leader

Every time, A node is designated as a leader, and its main function is to generate a POH sequenceacts as a “crypto clock” for the entire network. The reader receives the user’s transactions, instructs the user according to temporary markers in the POH, and performs the operation in the current state of the network stored in RAM.

After processing them, it generates a cryptographic company in the resulting state, exposing both the transaction and the signatures to other nodes. This process allows you to establish a verifiable global operational order, reducing ambiguity in transaction processing.

2. The role of verification agents

Verifiers receive information published by the leader and replicate the same deal with local copies of the state. The results are then compared with the state signature issued by the leader. Once verified, Verifiers publishes signed confirmations that act as votes within the consensus algorithm. This mechanism ensures that the global state of the network is consistent and prevents a single node from impose any consequences.

3. Consensus Mechanism

The leader is not a fixed node. Any validator can select a leader through a POS-based selection process. In these elections, Stake weight determines your chances of being selectedencouraging the validator to work well and ensure that the network is secure and efficient.

4. Network Partition Management

According to the online white paper, regarding the cap theorem, Solana prioritizes availability consistency when network partitions occur. This means that in the face of temporary fragmentation, nodes remain in a brief, verifiable state, while some participants are temporarily isolated.

For good partition situations, network design contemplates the recovery mechanism that allows unique consensus to be restored once communication is restored, avoiding persistent branching.

4 What about Solana’s intelligent contract?

To get a deeper understanding of the programming tools Solana has for application developers, it is essential to break down some of the terminology used by this network, as well as the capabilities that automate operations.

Solana Program

The Solana programme is equivalent to Ethereum’s SO-Caled “Intelligent Agreement.” These programs are just executable code (Running account) Contains specific instructions within each transaction in this network.

These “intelligent contracts” for the use of Solana Sea level, Ability of Process transactions and contracts in parallel Instead of one in a single thread.

Sea level, the first time for the execution of parallel intelligent contracts around the world. fountain:

This feature is one of the features that contribute to the deployment and use of distributed applications and programs in Solana, making it faster and more efficient than other networks.

Solana Program Library Token (SPL)

Solana’s Tokens SPL standard determines the functionality of Solana’s NFT and Fangible Tokens. One of the functions of this standard is to ensure that the created tokens are interoperable with the network application.

This Solana development library is characterized by a variety of differences in standards, such as Ethereum, ERC-20, and ERC-721. The SPL standard applies to all types of tokensThe difference between each operation is “defined at the token creation stage.”

This distinguishes Solana from networks such as Tron and BNB Smart Chain that use Ethereum-based standards such as the TRC-20 and BSC BEP-20. Additionally, the source code for Solana’s Tokens SPL can be reused with new “tokens that will encourage developers to create new tokens.”

Despite the benefits of SPL standards being able to report, most of these tokens It cannot be stored or used in applications or wallets based on Ethereum Virtual Machine (EVM).. They are incompatible. This allows Solana to act as an isolated network of a set of interoperable networks made up of Ethereum, BSC, or polygons.

The final iteration of SPL added a token extension, a set of options and capacity. They are designed to avoid forced manual development. They help to make it easier to implement a variety of functional properties like these. Conditions of transferability, confidentiality and immutability Ensure compatibility of the creation a priori within accounts within the Solana protocol.

“Solana Extensions offers native solutions that eliminate the need to “patch” intelligent contracts and scattered protocols. Now everything you need is in the token itself (…). Developers can use the program to suit all their needs. ”

Sheraz Shere, Shops and Payments of Solana.

5 Solana Consensus Protocol

As already mentioned throughout this article, Solana’s consensus combines the Proof of Stocks (POS) mechanism with the Innovation of History (POH). POS guarantees that the baritler will participate by blocking the coin as a guarantee. This will suggest voting rights and blocks.

On the other hand, Poh is not a consensus mechanism in itself; The temporary branded system of UN encryption Organize events in verifiable sequences. This way, everyone can trust the same shared “clock” and thus reduces the time required to adjust the validator.

Proof of history serves as a temporary planning mechanism. An encrypted clock that generates a sequence of hash values ​​that can sequentially calculate a series of hash values. Thanks to this, POH can demonstrate that events occurred at a specific time and in a verifiable order, without the need for all nodes to communicate constantly to synchronize the clock.

Important POS Elements of Solana

• Bonds (bonds): They are currency blocked by validators as a guarantee of good behavior, similar to spending on Pau’s hardware and miners’ electricity.
• ThrashingFor example, economic punishment for people who behave maliciously confirms two different branches of the chain.
• Super Mayoria: Two-thirds of validators weighted by the amount of blocked currency are reached when they accept the state. This will require at least one third of the total value of sunset for the attack.

In stages

1. Bonding (currency lock). The process begins when the verifier blocks a certain amount of sun with a special account. Bonds. These currencies act as guarantees of good behavior and are similar to miners’ hardware and electricity spending in proof of work. Only validators with active bonds can participate in voting and block verification.

2. Generating POH sequences. A temporary reader is specified – the selected validator – creates a proof sequence (POH) for the historical sequence that serves as a time series record for the transaction. This sequence allows all validators to have a common temporal order of events, requiring constant communication to synchronize clocks between nodes.

3. Verification and voting. The validator reviews the proposed sequence and transactions and issues a positive vote in the block state. There are no negative votes. The absence of confirmation is reflected in the inactivity of the binding. You need a super mayoly to accept the block. This means that at least two-thirds of the total weight of the bond will approve the state. This mechanism requires an attacker to control at least one third of the total sundown on the network to change the consensus.

4. Rotating leaders and contingencies. The functionality of the reader is broken regularly, and the network is ready to replace the reader in the event of hardware, software, or accidental branching. When validators act maliciously, such as voting in two different branches of the chain, novel mechanisms are activated and bonds as economic penalties are destroyed.

5. Network verification and advancement. Once you reach Super Mayoria, the block is confirmed and added to the chain. A few rounds of inactive validators consider the bond to be marked outdated and prevents voting until you unjoin and update. This ongoing leadership, voting and verification enables Solana to process transactions quickly and maintain security and resilience in front of attacks.

6 What is Sun Cryptocurrency? How is it used?

Sol Cryptocurrency is a native token for the Solana blockchainIt is designed to serve as a means of exchange and account-by-account exchange within its ecosystem. SOL has multiple features that support the operation of the network and its internal economy.

First, It is used to pay transaction fees within the network. Thanks to Solana’s efficiency, these rates are so low that both users and developers can trade frequently without banned costs.

Second, SOL makes the token act as a staking token in a network consensus mechanism. Balidators and Delegates will block Sol and participate in blocking verification via Sport of Stake (POS) to get rewards proportional to participation. This process ensures network safety and stability and promotes integrity among participants.

Additionally, SOL is used as collateral and active within distributed applications (DAPPs) built on Solana, including distributed finance platforms (DEFIs), inappropriate token markets (NFTs), and other digital services.

7 Main Use Cases and Applications

• Decentralized Finance (defi): Solana is used as a base for loan platforms, staking, decentralized exchanges (DEX), and financial derivatives. The ability to process transactions quickly with minimal costs allows for more efficient and competitive operations over traditional blockchains.
• Tokens are sterilized (NFTS): This network is used to create, buy and sell NFTs, offering speed and low prices, and promotes digital collections, art and interactive experiences without crowding or high costs.
• Distributed Applications (DAPPS): Solana supports a variety of Dapps in sectors such as gaming, marketplaces, and decentralized social networks. Its parallel execution engine (Sea level) Make these applications work efficiently at the same time.
• Payment and remittance: Thanks to its speed and low transaction costs, Solana’s SOL and STABLECOINS can be used for global payments, transfers and remittances, offering a more economical alternative to traditional systems.
• Protocols and Bridge Infrastructure: Solana integrates with other blockchains bridge It also serves as a base infrastructure for tokens, stubcoins and interoperable projects, promoting connectivity between the blockchain ecosystem.

8 Technical risks, risks and challenges for Solana

As for its advantages, Solana can handle tens of thousands of transactions per second (TPS) thanks to its innovative history testing mechanism (POH).

On top of that, Solana network gas prices are very low, It’s often lower than a penny. This makes it an attractive option for microtransactions, DEFIs and NFT trading.

Meanwhile, Solana’s architecture is designed to climb as the network grows. This allows you to efficiently handle large amounts of activities.

but, One of Solana’s most important issues is her network disruption history. In some cases, blockchains have experienced periods of inactive or degraded performance due to technical failures and transaction overload. The foundation has worked to improve stability, but these cases raise questions about their long-term reliability.

In addition, Solana is a distributed network, Some critics They point out that there is a greater level of centralization than it would be desirable. The number of validators is not as high as other networks, and the Solana Foundation has a major impact on project development. This raises a dilemma between the need to climb and the ideal of decentralization.

If you want to learn more about issues related to Solana and blockchain, we also recommend reading and sharing these articles on Cryptopedia.