Solana is a blockchain platform designed to provide fast and secure transactions at scale. It was created by the Solana Foundation in 2017 and launched in 2020. Solana's goal is to offer a decentralized infrastructure that can support a wide range of decentralized applications (dApps) and services.
One of the key features of Solana is its high throughput, which enables it to handle up to 65,000 transactions per second (TPS), making it one of the fastest blockchains in the world. Solana achieves this speed by using a unique consensus algorithm called Proof of History (PoH), which helps to order transactions before they are added to the blockchain. This reduces the time it takes for nodes to reach consensus on the state of the blockchain, which in turn enables faster transaction processing.
Solana also uses a combination of other technologies, including Tower BFT (Byzantine Fault Tolerance) consensus, parallel processing, and a network of nodes running on GPUs (graphics processing units) to further increase its speed and scalability.
In addition to its technical features, Solana has gained popularity among developers and investors due to its low fees and strong community support. Its native cryptocurrency, SOL, is used to pay for transaction fees and participate in governance decisions on the platform.
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