Solana rose to fame in 2020 with its unique blend of proof of history and delegated proof of stake consensus mechanism along with timestamped transactions to maximize efficiency. Via this mechanism Solana offers exponentially faster transaction speeds than its closest competitors, Ethereum and Cardano, at a fraction of the cost. Who would have thought by adding a decentralized clock to a blockchain it would be make it more efficient hey?
Well that man was Anatoly Yakonvenko, the founder/CEO and he was one of the genius’s that was instrumental in developing some of the technology found in all our smartphones during his 12 years at Qualcomm.
Solana has faced controversies and raised red flags in recent times. Frequent outages have resulted in the blockchain going offline, casting doubts on its reliability. Additionally, it was revealed that Solana had financial ties to Alameda Research + FTX, both founded by Sam Bankman-Fried and we all know what happened here..
Whilst I like Solana for its attractively cheap fees and speed, being honest it is not my preferred blockchain of choice but they do have a pretty cool web3 smartphone they have just released that is worth checking out! Show Less
