This article has been translated from English to Gen Z Slang.
Solana is like the cool cousin of Ethereum in the world of decentralized blockchain. It’s built with a hybrid beta mode that mixes delegated proof-of-stake (DPoS) and proof-of-history (PoH) to flex those smart contract muscles. 🚀✨
SOL is the homegrown digital dough of Solana, fam. 💸
Acting as a utility token, it’s not just for bling transfers but also keeps the blockchain safe by staking, like a real MVP. 😎
Anatoly Yakovenko had this big brain idea of proof-of-history, inspired from his 13-year grind at Qualcomm where he was a boss at designing distributed systems. 🤓
He focused on making sure networks sync up using solid network clocks and timestamps to define blocks, basically keeping the squad on time. ⏱️
Proof-of-history (PoH) is all about those timestamps when it’s block-defining time, unlike proof-of-work (PoW) which uses miners or proof-of-stake (PoS) that use staked tokens to run the show. ⏳✨
This setup speeds things up crazy fast compared to Bitcoin or Ethereum, who are still figuring out how clocks work for network sync. 🕰️💨
Yakovenko laid down his PoH strategy in a white paper, dropping it back in 2017 for the crypto experts to vibe with. 🎓📝
By using his lightning-fast PoH with proof-of-stake (PoS) choosing a leadership role, getting 50,000 transactions per second (TPS) done at $0.00025 each is the Solana flex. 🌩️💪
Over to Ethereum, they're hovering around 10-20 TPS, but no promises there. 🤷♂️
Bitcoin’s TPS? It’s chilling at an average of about 5. 🐢
The Solana squad runs on a 1,900+ validator network that’s all about processing transactions and making consensus hella smooth. 🕵️♂️✌️
There’s a super-sized minority of 30 that totally hold it down, repping 33% of the active staked SOL. 🎯
The Solana crew is parked at the Solana Foundation’s HQ in Geneva, Switzerland. 🌍🏢
Originally named Loom, Solana had to hit a name change since there was already a Loom in the crypto family. 😅
SOL dropped the mic in 2020 and jumped straight into the top 10 crypto leaderboard by total market cap. 🏆💥
As of August 2022, it’s flexing a market capitalization of $12.2 billion. 💰
There’s a cool circulating supply of 349 million SOL vibing out there, with a total supply cap of 511,616,000 SOL in sight. 🌌