CHAPTER 7

Solana

“Literally the goal of Solana is to carry transactions as fast as news

travels around the world — so speed of light through fiber.” - Anatoly

Yakovenko, Founder & CEO Solana

Launched: April 2020

Native token: SOL

Market Capitalization: $41.33B

Smart Contract languages: Rust, C, C++

In this chapter, we will cover the Solana Blockchain, the hottest

name in the public Blockchain market today.

Solana published a whitepaper in 2017 with many unique and

innovative concepts for a new public Blockchain. In September 2021,

Solana claimed to be the fastest Blockchain in the world,

successfully handling 50,000 transactions per second and 400 ms

block time latency with over 200 nodes on the current Testnet

iterations. This achievement makes Solana the world’s first web-

scale decentralized network. In order to reach this massive

scalability, Solana has discovered eight different innovative

technologies, which are as follows:

Proof of history consensus to be discussed next

Tower BFT algorithm optimized to work with the PoH

consensus

Turbine for faster message propagation achieved by breaking

down the data to smaller units.

Gulf-Stream

protocol

for

caching

and

forwarding

the

transactions quickly reducing the confirmation time

Sealevel helps in running thousands of smart contracts in

parallel