A new architecture for a high-performance blockchain
Smart contract blockchain
Anatoly Yakovenko - CEO
Greg Fitzgerald - CTO
Raj Gokal - COO
Eric Williams - Data Science, Token Economics
Stephen Akridge - Engineering
Alan Yu - Partnerships, Biz Dev
Solana is building the architecture of their blockchain based on Proof of History (PoH); a proof for verifying order and passage of time between events. The purpose of PoH is used to encode the trustless passage of time into a ledger. A Proof of Stake (PoS) consensus mechanism is then leveraged for confirmation of the current sequence produced by the Proof of History generator. PoS is also used for voting and selecting the next Proof of History generator node and for punishing any validators that act against the interest of the network.
Everything about the Solana project is unique and exciting. It is a type of blockchain whose architecture is centered on Proof of History – a system for authenticating order and the passage of time. Proof of History on this platform will then work hand-in-hand with one of the two consensus algorithms, notably Proof of Work (what’s used on BTC) or Proof of Stake (what’s used on Ethereum’s Casper). It is true on the blockchain as it is on the internet that not being able to be on a consensus on time often is a complex problem. However, this PoH serve as a way of encrypting trustless passage of time. Solana’s MVP is already on GitHub having been released a while ago. Greg Fitzgerald who is the CTO said a single node test of this blockchain ran at a massive 35k TPS and they would intensify this number during their fill testnet. He said that it would run on several thousand nodes. Of course, achieving 710k TPS is no mean feat and even their high-caliber team who recently released a prototype (called Avalanche). And so, for them to hit this target and deliver on the promise, lots of hard work will undoubtedly need to be pumped in. There are no shortcuts, and even their Telegram channel’s 10 thousand members. Being the founder and CEO, Anatoly Yakovenko is aided by Greg Fitzgerald, the project’s co-founder and CTO and Eric Williams, Ph.D., another co-founder and Chief Scientist. Others are Raj Gokal, Alan Yu, and Stephen Akridge. Looking at this techies, one thing is visibly synonymous – over ten years of experience in diverse fields.
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With a focus on this blockchain right now centered on performance, there’s no doubt how high the TPS goes will influence the future of Solana. At this particular stage, however, how the team plans to reach the target is still blurred.
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