1/13/2024 0 Comments Solana transactions per second![]() With an average of 2,000 transactions per second (TPS) and a theoretical maximum of 710,000 TPS, Solana is one of the fastest blockchains. Solana is Speedy, Cheap, and Energy-Efficient It may not be Solana Summer anymore, but Solana is still growing like wildfire. Solana is up to over $1.53B in total value locked (TVL). ![]() Why Is Solana Successful?Īccording to CoinDesk, active wallets on Solana grew 58% this year with over 32M active wallets in June 2022. The Solana team wanted to create a network that could achieve full scalability on its own, without the need for a Layer 2 solution. The upcoming SeptemEthereum Merge will help with energy use, but Ethereum will still rely on Layer 2 scaling solutions to actually scale. The greatest roadblock with competitor blockchains like Ethereum is that they are expensive to use, energy-intensive, and struggle to scale. When co-founder Yakovenko initially built Solana, his goal was to scale throughput while maintaining low costs and ensuring an energy-efficient network. Ultimately, Solana is a blockchain platform designed to address two of the most concerning issues in Web3: security and scalability. Proof-of-History is based on the idea that having a reliable clock between computers in a blockchain network makes synchronization simple and results in high transactions per second (or TPS). In a November 2017 whitepaper, Russian computer engineer Anatoly Yakovenko proposed a mechanism called Proof-of-History that would soon lead to Solana’s creation. In this article, the first of our Blockchain Protocols series, we’ll provide an introduction to Solana, discuss why the protocol has been successful thus far, review some of its top projects, and address the challenges it faces ahead. That’s why the blockchain platform Solana was created. As cryptocurrency and blockchain become more prevalent in our everyday lives, both developers and consumers are in need of networks that can scale efficiently and at a low cost.
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