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Solana Crypto PNG Transparent Images

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Submitted by on Sep 3, 2021

Solana (cryptocurrency) is a Dpos (Delegated-Proof-Of-Stake) consensus blockchain network that is quick, trustworthy, and scalable. Solana is designed for decentralised applications, markets, and business apps. It provides scalability at a fast rate without fragmenting or compromising the decentralisation principles.

Solana was created in 2017 by Anatoly Yakovenko and a group of developers, including Greg Fitzgerald, Solana’s CTO, and Eric Williams, who devised a novel approach to dealing with the throughput issues that plagued both the Bitcoin and Ethereum blockchains.

Solana was formed in late 2017 as a result of their idea for a trustless and distributed protocol that allows for higher scalability. In the summer of 2018, the business released its alpha testnet and was able to get a $20 million first investment headed by Multicoin Capital in 2019. Anatoly Yakovenko, the company’s founder and CEO, formerly worked at Qualcomm on operating systems, Mesosphere, Inc. on distributed systems, and Dropbox on compression.

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Solana’s core team consists mostly of Qualcomm engineers with extensive expertise managing large projects such as Firefox OS and the BREW Operating System.

Solana is a blockchain with a high throughput. It’s a web-scale blockchain, which means it can host applications with computational capacity comparable to that of the current internet. Solana is the only blockchain with enough space to power decentralised versions of Nasdaq, Facebook, Twitter, and other existing blockchains. It now supports 50,000 to 65,0000 transactions per second with block durations of 400 milliseconds without the use of sophisticated solutions like as sharding or layer-two.

As the world’s first web-scale blockchain, Solana will open the door to a whole new class of high-performance applications while also facilitating larger-scale blockchain adoption. Solana can surpass any other current layer 1 and deliver costs as low as $0.00001 per transaction because of a breakthrough concept called Proof of History.

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