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Introduction to the Solana Blockchain

28 January 2022 Be the first to comment

Rohas Nagpal

Chief Blockchain Architect

Hybrid Finance (HyFi) Blockchain

Solana is one of the world’s cheapest and fastest public blockchains.

It has a block time of 400 milliseconds and transaction fees of less than $0.01.
Solana’s native token is SOL. Fractional sols are called “lamports” and each lamport equals 0.0000000000582 SOL.

SOL can be:

staked directly on the network
delegated to validators in return for inflation rewards
used to pay for fees for sending transactions
used to pay for running smart contracts

The Solana Foundation is a non-profit organization headquartered in Zug, Switzerland, dedicated to the decentralization, growth, and security of the Solana network.

Solana has a very vibrant ecosystem with more than 400 DeFi, NFTs, Web3 projects.

Consensus mechanism:
Proof of History (PoH) and Tower BFT

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Rohas Nagpal

Chief Blockchain Architect

Hybrid Finance (HyFi) Blockchain

Member since

02 Oct 2016

Location

Wyoming

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