Sol (5) - Deepstash
Sol (5)

Sol (5)

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Solana Hype

Solana Hype

Gm gm gm

Where do we start from?

The fact that the block completion time is 400ms

Or that I find Solana beautiful 😎

Or that, Solana exhibits some yin yang kinda financial lifestyle

Or that she challenges to take over the queen's place?

Or that her stylist is a Software-code Booglehead, who contributed immensely in Qualcomm?

Solana! Solana! Solana!

Even the name speaks volumes of her beauty, fame and feline grace.

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107 reads

... Beautiful Crypto

... Beautiful Crypto

Wait a minute 😎

I have a big sister, her best color is Purple.

She's not a Blockchain Researcher like me, but I know one thing, If she stumbles into Blockchains, cryptocurrency specifically, she'd love this Princess —solana.

She's adorned in her best colours.

Purple like speedy, purple like lavender, purple like the ancient Egyptian's royal linen, purple like Xerxe's apparel.

Let's talk Solana, The Princess of the Palace.

She's still indecisive of her prince-to- be, so she appears in purple with hues and contrast.

Till then, Red may 👌🏼

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52 reads

The Story

The Story

...of Anatoly Yakovenko.

Anatoly Yakovenko

CEO at Solana Labs

The brain behind the innovation.

The Man! The Myth! The Legend!

An internet personality, widely know for his contributions in the creation of early operating systems at Qualcomm.

Also worked as an engineer at Dropbox and Mesosphere.

Once he planned starting a cryptocurrency mining booth, but was made to wait 6-months later than he expected.

Had a wavering curiousity for cryptocurrency until the BTC mining incident, that waver beame voracious 🔥

X

LinkedIn

Instagram

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41 reads

Bullet, Why Solana ?

Bullet, Why Solana ?

So Why Solana?

It was 2017, when Solana was born.

I will not bore you...

1. To increase the rapidity of Blockchain transactions

2. To increase adoption by smart contract developers.

3. Cutting cost off

4. To ensure a greener environment

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50 reads

Stats

Stats

Solana statistics

You may be perturbed to know that $Sol was launched at March 2020 at about $0.95 and it's highest attained ATH is about $260.

The price sits at $141 as of the time of this documentation

Market cap. $65,412,631,478

Max supply infinity

Fully diluted market cap $81,942,324,355

Total Supply 579,070,743 Sol

From CoinMarketCap

What about the maximum supply?

Your mind should wonder why Sol is high despite the fact that it has no upper limits dor its maximum supply?

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39 reads

Inflate Or Deflate

Inflate Or Deflate

There's a novel technique used by the Solana team to combat inflation rate of Sol, with this technique as documented by CoinTelegraph () Sol inflationary rate sits at 8% currently with prospects of decreasing by 15% every year till year 2031 when it comes to 1.5 %, a stable long term inflationary rate.

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30 reads

Tps

Tps

Consensus

Solana uses the PoS Consensus mechanism dubbed with PoH.

PoH in itself is not a Consensus mechanism but an invention by Anatoly Yakovenko to help ensure faster block confirmation time , thus, ensuring transactions are done as fast as possible.

Solana boasts of TPS reaching 65,000 transactions per second.

However, I believe this is theoretical

Currently, the TPS of Solana stands at about over 1000 transactions per second

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29 reads

Consensus Proper 1

Consensus Proper 1

PoS, Proof of Stake

Solana, Ton amongst others are notable Blockchains we've looked at that make use of this Consensus mechanism.

PoS is a Consensus that demands staking of some tokens (native to that particular crypto Blockchain) in other to be able to run a validator node and validate transactions in the Blockchain. Now this is where PoH comes in.

It may interest you to know that when new blocks are created, they include a timestamp to show the particular time that very Blockchain was created.

Believe you me when I tell you that PoH is not as simple as it may look.

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26 reads

PoH

PoH

The technicalities is one of its kind.

However, basically, PoH allows for faster block confirmation time.

Most times there'd be a great workload on the Blockchain and different validators will be validating different transactions.

Transactions cannot be added anyhow to the chain of blocks, it has to be added in the order in which it was confirmed.

When a particular validator confirms a transaction he'll need to add it to the the transaction list which all validator will confirm to be following in the order that they were confirmed, when this order is confirmed....next slide

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22 reads

SHA256

SHA256

...., this list will be added as a block to the chain of blocks.

The question is : "How will I know that I completed confirmation for this transactions before this particular validator's confirmed transaction?" Or "how will I know this transaction was completed before this other one?"

This is what PoH helps Solana do.

For each transaction, a timestamp in the form of a hash is given. This hash is created by the hash function SHA256 which is notable to be a one-way hash function ie an input gives a 64 stringed output, if you input the same output it gives another different 64 stringed output.

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22 reads

Summary😂

Summary😂

With this method, a validator does not need to gossip with other validators to find out the expected order of the transaction.

I kinda asked myself, what's the point of all these cryptic things?

Why not record the exact time in yr:mm:dd:hr:mn:ss (year, month, day, hour, minute, second)?

But then, validators are in different countries and different time zones so that will be practically impossible and if possible, way cumbersome.

My brain 😂😂😂

In fact, just understand that PoH helps to ensure faster transactions in Solana Blockchain.

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22 reads

AKACHUKWU CC

Keep Broadening Your Horizon

AKACHUKWU CC

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30 reads

Vote Of Thanks

Thank you for reading

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27 reads

IDEAS CURATED BY

booksucker

Blockchain (Crypto) Tutor || Upcoming Trader n|| Upcoming Hacker || Upcoming Dr A Blockchain Researcher

CURATOR'S NOTE

A Crypto Princess ?

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