#SOLANA LIGHTPAPER OFFLINE#

Users can harness this native token to interact with smart contracts on the network or pay for transaction fees. In terms of tokenomics, Solana uses the SOL token. Solana's mainnet beta also suffered 'high levels of network congestion,' according to a Twitter account with the handle The account explained that 'excessive duplicate transactions' provoked the incident. The network became overwhelmed with transactions, at first becoming sluggish and then halting activity completely. 'The cause of the network stall was, in effect, a denial of service attack,' an analysis posted to the Solana website explained.

#SOLANA LIGHTPAPER OFFLINE#

The Solana network first became unavailable in September 2021, when it went offline for a total of 17 hours. In spite of this new technology, and the accompanying possibilities, the Solana network has either slowed down or gone completely offline multiple times, provoking concerns about how reliable it is. More specifically, the Solana network has more than 5 million non-fungible tokens (NFTs) and more than US$11 billion in value locked into DeFi projects. Solana's substantial visibility and its significant bandwidth have helped draw interest to the network. For example, the cost of processing a transaction on Ethereum (ETH) surpassed US$70.00 in 2021. The fees of other networks have risen far higher. In addition to processing transactions rapidly, Solana can also do so in a rather inexpensive manner, as these transactions cost an average of US$0.00025. 'The architecture describes a theoretical upper bound of 710 thousand transactions per second (tps) on a standard gigabit network and 28.4 million tps on 40 gigabit,' per the Solana docs.Īn entry on the Solana Blog states that the network 'can get really fast as it is only limited by hardware constraints (ie: CPU/GPU, memory & bandwidth).' The Solana network's transaction speed is so fast because it uses Proof-of-History (POH), a consensus mechanism that provides every transaction with a timestamp and therefore confirms information more rapidly. The Solana docs, which provide substantial detail on the project, state that the network could potentially handle millions of transactions per second. As for just how rapidly this network may process transactions, a wide range of figures have been thrown around.

Solana is a blockchain network that was designed to provide fast transactions and therefore high bandwidth. This article will look at both networks, providing an overview and explaining how they are alike, and how they are dissimilar.

While they do have some similarities, they are different in many ways, especially when looking at their fundamental purpose or use case. Solana and Polkadot are highly visible blockchain technology projects that have drawn substantial interest from both investors and developers.

Solana lightpaper