What is Solana? – Definition, Work, and More

Definition of Solana

Solana is the fourth-generation blockchain and cryptocurrency that leverages open infrastructure to provide greater scalability.

And also, the network introduces various new and unique technologies that provide users with unmatched transaction speeds and enterprise-level security.

It consequently, the network saw considerable growth since its introduction in 2017.

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How Does Solana (SOL) Work?

For Solana, it accomplishes all of its goals. The developers to think outside of the box. As such, the network pack with the proprietary systems.

These systems work in tandem it creates a beneficial and reliable blockchain network.

1. Consensus Mechanism

Solana is the Delegated-Proof-of-Stake (PoS) network. And DPoS networks differ from PoS networks in a couple of ways.

The more SOL we hold, the higher the chances we get chosen as the validator. And its strategy ensures that only those vested in the network take this position.

And, validators earn rewards when they approve transactions and add them to the blockchain.

Also , those who are not validators can still secure—also, some easy profits by delegating their holdings to one of the Validators.

The system allows everyone to participate in securing the network and allows the users to decide what nodes deserve to validate transactions.

2. Proof of History (POH)

Firstly the POH mechanism serves the vital role in the Solana ecosystem. And protocol increases the efficiency of the blockchain by integrating timestamps in every transaction approval.

Secondly these timestamps enable nodes the establish the sequence of events.

Lastly in this way, the system serves as the cryptographic clock for the network.

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