The transaction speed of a blockchain platform plays an essential feature in driving network traffic. Also, to perform transactions on-chain, developing a high-speed blockchain platform will offer better exchange facilities to confirm. The consideration of Decentralized applications (DApp) is one of the prime use cases for blockchain development. In the past few years, the dApps have come on in leaps and bounds everything, from games to decentralized finance(Defi) platforms. Solana is one of the most favored high-speed blockchains that possesses cryptographic time-sampling and can regulate network traffic. It can process up to 2500 transactions per second which makes Solana one of the world’s fastest networks.
Currently, many businesses and entrepreneurs prefer to build their dApps on the Solana platform. Thus, Solana brings high transaction speed and low gas fees with a unique PoH consensus mechanism and PoS Tower BFT that overcomes the communication cost and transaction latency.
At present, blockchain potential is at its peak, and the beginning of blockchain-based platform Solana in 2017 to step into the breach and succeed where Ethereum is lacking. With many tools and features like interoperability, Solana has a dynamic ecosystem, and it has to invent its interoperability protocol known as Warmhole. With the potential of distinctive consensus mechanisms and interoperability protocols, Solana opens the broad spectrum. It is to build secure and launch decentralized applications for business entrepreneurs and developers.
The Proof of Stake(PoS) consensus system is one of the prime distinguishing features of Solana that is reinforced by the Tower consensus. Despite malicious node attacks, known as Practical Byzantine Fault Tolerance(PBFT), the variant of a system enables distributed networks to reach Consensus. Also, the second novel protocol known as Proof of History(PoH) implementation of Solana with PBFT enforces a global source of time across the blockchain. Thus, the consideration of PoH can be a high-frequency Verifiable Delay Function(VDF), a triple function to produce a reliable and unique output.
Moreover, the Solana employs a 256-bit secure hash algorithm(SHA-256), a cluster of proprietary cryptographic functions that output a 256-bit value. The Solana validator can use these hashes to record a specific piece of data. It was previously created, for the generation of a unique hash index. Also, once the particular bit of data insertion is over, timestamp building for transactions takes to achieve claimed huge number of TPS and block reaction time. Thus, to keep track of all the nodes on the network, have a cryptographic clock rather than waiting for other validators to verify transactions.
Also read: How to Develop NFT on Solana
At present, various blockchain platforms that we can choose to develop on, but the best part about the build on the Solana ecosystem is that you do not need any prior smart contract or Rust knowledge. Moreover, Solana is one of the most user-friendly blockchains that does not need blockchain experience for development and can be easily programmed.
On the Solana network, the use of programming languages like Rust, C, and C++ are to develop programs. Although, building a unique and robust DApp on-chain Solana program is essential. Below are the various advantages of the development of the Solana ecosystem:
The speed is one of the most vital features of Solana as it is the global fastest blockchain platform record processing 25000 transactions per second approximately.
The best part about Solana is that it is user-friendly with ready-made tools and has an easy Smart contract deployment process. On its platform, it can exponentially host many decentralized applications.
The open-source network with easy-to-use software and codes for building its ecosystem. The developers and users of Solana can easily download Solana software code from Solana Lab’s Github.
A user must pay a minimal gas fee to process a transaction on a blockchain platform. Also, this fee varies from blockchain to blockchain, and in some cases, it needs a good amount of gas fee to process a transaction.
Mempools state the waiting area in which the transaction waits after being processed. In the case of Solana, there is no hassle of mempool status on the network. It means the addition of transactions is direct to the blockchain, and there is lots of time-saving. Thus, it also minimizes network congestion.
On the Solana ecosystem developing all the decentralized applications is with Rust programming language. In Solana addressing the issue of memory safety and thread concurrency, Rust is used. It is the most used programming language.
With the emergence of Solana, the drawback of the previous blockchain platforms has been overcome. The integration of Solana with DApp facilitates the following benefits:
The Solana DApps facilitate some specific features that are:
For establishing a secure and cryptographic source of time Solana uses a proof-of-history consensus mechanism. In a distributed network, this consensus mechanism eliminates the problem of trusting timestamps on messages received from other nodes.
Solana uses a block propagation protocol called Turbine to transmit the blocks and is independent of the consensus mechanism. It simplifies the data transaction between the nodes by splitting the blocks into small packets.
The functioning of Solana DApp is on the gulf stream mechanism, which handles no delay and negligible mempool status. Also, the periphery of the network Solana pushes transaction caching and forwarding. Moreover, in the mempool section, the Gulf stream minimizes the total number of transactions.
On Solana pipeline is a transaction processing unit for validation and optimization. Validations take place between various nodes.
Another remarkable technology for Solana blockchain is Sealevel which incorporates simultaneous working of Solana Programs or the Solana Smart contracts. Sealevel technique increases the overall speed and validation of the dApp processes carried out by smart contracts.
In recent months, Solana has grown its potential in the blockchain market. As a result, with wide scalability and mining efficiency, many believe that it will be a future leader in the Defi landscapes. Solana is an open-source platform that processes high-speed functions. The consensus mechanisms behind it are PoH, Sealevel, and Gulf stream. Thus, Solana has negligible mempool status and low gas fee, and it is one of the most preferred platforms for DApps development.
If you are willing to create your own DApp in this emerging blockchain technology, then Oodles blockchain holds strong expertise in decentralized application development.