Solana: High-performance blockchain based on Proof of History.
Solana is taking on one of tech’s biggest challenges: scaling blockchain for global adoption.
Solana is a high-speed single-layer blockchain, currently supporting peak capacity of 65k transactions per second and 400ms block times with over 50 nodes. It is specifically built to scale transaction throughput with Moore’s Law. There is no sharding required to achieve this throughput.
Solana is an open source project implementing a new, high-performance, permissionless blockchain. Solana is also the name of a company headquartered in San Francisco that maintains the open source project.
It is possible for a centralized database to process 710,000 transactions per second on a standard gigabit network if the transactions are, on average, no more than 176 bytes. A centralized database can also replicate itself and maintain high availability without significantly compromising that transaction rate using the distributed system technique known as Optimistic Concurrency Control
At Solana, they are demonstrating that these same theoretical limits apply just as well to blockchain on an adversarial network. The key ingredient? Finding a way to share a time when nodes cannot trust one another. Once nodes can trust time, suddenly ~40 years of distributed systems research becomes applicable to blockchain!
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