Review on Solana by gregori cordova
One of the most scalable blockchains on the market, with a very promising future
One of the main deficiencies of current blockchains is undoubtedly the scalability and speed with which transactions are carried out, which prevent the use of cryptocurrencies from becoming widespread in daily life. In addition to these two factors, the high cost of transactions currently, such as ethereum commissions, does not allow it to serve as a profitable payment method for users. In this context, Solana comes to solve these problems, since it is one of the most scalable open source blockchain projects in the industry today, having the record of being able to handle more than 60,000 transactions per second and with a commission cost per transaction of only $ 0.000001, something that undoubtedly facilitates its adoption in the real world and is considered today one of the most promising blockchain projects in the industry. One of the key success factors in terms of scalability of Solana compared to other blockchain projects, is its unprecedented consensus system called proof of history, which is a kind of registry, which stores transactions over time and in which the validators , they do not need to wait for other nodes to validate transactions in order to move forward. Through the solana blockchain you can create highly scalable decentralized applications, defi projects or blockchain games, since its protocol is built to offer speed. Since its launch to the market, there are hundreds of projects that have been built under the solana ecosystem, and many integrations have been made with other projects and exchanges where its SOL cryptocurrency is listed. Solana's achievements have been well accepted in the crypto environment, and from its price for the initial private sale of $ 0.04 it has risen to today it is worth $ 14 per token in just a few months.
Solana represents one of the most notable solutions in terms of scalability in the cryptographic world, managing to handle more than 60,000 transactions per second, thanks mainly to its consensus mechanism.
Pros
- Since its creation in 2017, the SOL token went from being worth $ 0.04 to today worth more than $ 14 and with a market capitalization of $ 6,902,649,913
- It represents today the most powerful and valuable solution to deploy highly scalable decentralized projects and applications.
- it works with an unprecedented consensus system called proof of history, which is the key factor in solana's success.
- Since its creation, and thanks to its achievements, the solana token is listed in most of the most successful exchanges on the market
- The project was created by experts from industries such as Apple, Google Microsoft, and it raised more than $ 25 million in investments.
Cons
- The requirements to become a validator are very expensive, since very powerful computing equipment is needed
