Solana is one of the biggest blockchains in this crypto space. Recently, however, it seems that Solana has slowed down. In this article, we take a look back at Solana's progress and project its next stretch.
Whitepaper was published in 2017, soon after, Solana received interest from many big VCs. Especially, when metion Solana, many people will immediately think of Alameda Research and FTX, a huge backer and top tier exchange. For early investors, Solana is definitely a bargain.
However, another big VCs, Multicoin Capital, also invested in Solana from the early stages and holds to the later stages. The estimated profit of this deal can be up to 614000%. This is also one of the most successful investments of Multicoin Capital.
Solana is one of the efficient blockchains in this crypto space. Due to some good blockchain technology, Solana solves many problems such as scalability, TPS, gas fees, latency very well... compared to other blockchains (e.g. ERC20)
1. Solana is the first to use POH. One of the limitations of scalability is the time it takes to have a consensus on the order of transactions. POH creates a record to prove that an event was happening at a specific time. This allows transactions to be ordered automatically.
1a. However, POH still has its own limitation. The speed of Solana network depends on the leader node's hardware. The faster the hardware, the faster of the Solana network.
2. Solana uses a consensus mechanism called Tower BFT. This mechanism is designed to optimize the advantage of POH. Moreover, Sealevel is a parallel smart contracts run-time in Solana, designed to scale horizontally on GPUs and SSDs.
Compared to other blockchains, the use of POH and the strengths mentioned above make Solana superior in terms of fees and TPS. However, recently Solana's TVL has been somewhat declining because the development of other systems like Avalanche, Terra makes Solana less noticeable.
Here are some outstanding events of $SOL in 2021. Before that, the crypto market fell into winter and accumulated sideways, so there were not many significant events except funding rounds.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
A challenging and transformative year for crypto with the rise of diverse sectors across blockchain space, named as Layer-1, Scaling Solution NFT, P2E, Cross-Chain, and the dawn of Decentralized Derivatives
Valuing layer-1 coins like other tokens in the market or even CF concept actually not that wise choice. Considering layer-1 as a country, its coin should be valued as a national currency. To judge whether its implied power is strong or not, the coin price is merely a minor factor
The names mentioned here are ETH, BSC, Matic (polygon), Solana, Near, Fantom, Luna, and Avax which respectively achieved an impressive ATH over the past year. The article divide into 2 parts, the first briefly cover L1's journey in 2021 while the latter part will dive into DeFi.
Following the Layer 1 season like other #blockchain, $NEAR also gained extensive attention from various #DEFI users and investors. What element drives the growth of Near?
Let's follow the footprint of @NEARProtocol in the thread below👇
@NEARProtocol 1/ During the bull run, $NEAR joined the party that witnessed the 6x upside while reaching the new ATH. In the meantime, the various on-chain signals recorded peak, and a few major native #dapps decided to launch their tokens like first AMM DEX $REF or NFT marketplace @ParasHQ
@NEARProtocol@ParasHQ 2/ Social media has complemented ETH 2.0 & its sharding technology vision for a long time, but it takes years to apply. However, #NEAR step-up and takes the sharded nature as its core to solve blockchain trilemma, might even further advance than ETH2.0
@terra_money@stablekwon 1/ In term of macro view, $LUNA surged by 364% after the June dip which just broke ATH in last Monday, while from the general perspective, Terra ecosystem is now $11.7M.
@terra_money@stablekwon 1.1/ Operated in the last six months, its TVL accounted for 3.6% and just surpassed the phenomena layer 2 Polygon to take the third place whereas other competitors launching in the same period found it difficult to attract capital flowed in their ecosystem.