As innovative as it may be, blockchain technology faces particular challenges, including high fees, scalability issues, low throughput, and more.
Several projects in the DeFi space compete to become the first web-scalable blockchain and ensure that users have the best experience by tackling these common issues.
One of these, which is gaining traction in the DeFi community, is Solana. This open-source, censorship-resistant blockchain leverages a comprehensive set of technologies to amplify scalability and deliver a robust network for building decentralized applications (dApps).
What is Solana?
Solana is a decentralized protocol for building dApps with a reported throughput of 65,000 transactions per second (TPS) thanks to its distributed computing system.
Unlike most protocols that run with the Proof of Stake (PoS) or Proof of Work (PoW) mechanism, Solana uses the Proof of History (PoH) – a new cryptographic mechanism that amplifies scalability while maintaining network security.
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