Solana (SOL) is a blockchain network that stands out for its transaction speed. It can handle up to 50,000 transactions per second and takes only 400 milliseconds per block to create. This makes Solana recognized as one of the fastest blockchain networks to date.
Essential details:
- Solana uses a Proof-of-Stake Consensus Algorithm and adopts a Proof-of-History system, to verify and confirm the transaction.
- Proof-of-History is a system that takes the matter of time or timestamp into the transaction data. As computers or nodes in the network do not need to communicate with each other, Solana can significantly reduce the time required for block creation and confirm transactions.
- Solana currently has over 400 projects built on the network, including DeFi, NFTs, Web3, and more. For example the most popular stablecoin USDT and USDC can be used on Solana.
Solana Highlights
- Solana (SOL) is a consensus-based blockchain network. Proof-of-Stake combined with Proof-of-History is a network that can handle up to 50,000 transactions per second, and takes only 400 milliseconds to create a block per block. It is thus one of the fastest blockchain networks available today.