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The Solana Blockchain Network

2021-09-13 JGTechBlockchain

With more than one blockchain to develop with, Solana has been a great choice for people who prefer fast and cheap transactions. That is why focussing on developing decentralized applications in Rust has been a priority lately. This post is dedicated to understanding some basics and key terms needed to move forward your research of new blockchains.

The Solana Network

  • Transaction Fees

The network Cluster sets transaction fees based on recent processing history

  • Transaction Speed & Finality

Solana can manage up to 65,000 transactions per second and block times at 400ms

  • Languages supported

Solana applications are built on Rust, but also support C and C++

  • EVM compatibility

Solana is not EVM compatible but it offers a bidirectional token bridge between Solana and Ethereum so projects can move tokenized assets across blockchains

  • Role of the SOL token

The token is used to pay for the transaction fees in the network and to reward participant in the Proof of Stake consensus

Core Concepts

  • Proof of History

nLocktime-based

  • Optimistic Concurrency Control

710,000 to millions transactions per second

  • Solana Cluster

Set of computers working together or against to verify user transmitted program

  • Solana Ledger

Record of events preserved for life and reproducible outputs

Rust Programming Terms

crate

Collection of source code which can be distributed and compiled together

borsh

Binary Object Representation Serializer for Hashing

derive

Generates all the necessary boilerplate code to wrap around data structures

pub

Declares data structures publicly accessible, meaning other programs and functions can use it

References

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