Solana: From a simple garage office to one of the most iconic projects in crypto
This following article was written based on information received in an interview with Daniel Albert, CEO of $SOL
Here are the most important information contained in the interview🔥
Here's what we'll cover today:
◀️ Why Solana will continue to advance at its transaction speed
◀️ Firedancer's unique capabilities
◀️ How the token extension simplifies the process of creating advanced functionality
◀️ Why Restaking won't have the same impact on $SOL as it had on $ETH, but Solana has other strengths
➜ What's interesting is that transaction processing and ultra-fast consensus, which Solana is famous for, were actually working.
➜ First, they just tried things out.
➜ Next, they moved the setup to a data center, and integrated it into a rack, marking the world's first physical deployment of a $SOL validator!
❶ First, let's talk about Solana in 2019:
➜ The ambitious project began in a small office in San Francisco, where the team worked in a basement during the summer of 2019.
➜ There, they discovered the auditors' actual hardware needs and built prototypes.
➜ At that time, SVM was still in the experimental stage.
❷ Parallel transaction execution is the main reason behind Solana's high transaction per second speed.
➜ Unlike many slower EVM-compatible networks, Solana's consensus mechanism is fundamentally different.
➜ The parallel execution engine enables Solana's infrastructure, which processes transactions, to scale along with hardware evolutions.
❸ That's why Solana will always be faster:
➜By performing tasks in parallel, it uses more cores, achieving greater parallelism over time.
➜ As long as people use the Internet and companies like Intel, AMD, and Nvidia compete, chips will get faster, and data transfer speeds will improve!
❹ Now, what about Firedancer?
➜ Firedancer stands out as one of the exciting developments on the Solana network that you may not be aware of yet!
➜ Currently, the Solana network relies on two major validators, with Firedancer emerging as a completely new client.
❺ Next, let's talk about token extensions:
➜ Token Extensions are a set of smart contracts designed to enhance the functionality of tokens on Solana. Previously, the Solana Software Library (SPL) offered limited advanced features for tokens.
➜ However, with token extensions, a single smart contract can now provide a variety of advanced features.
❻ Is this model intended to replace traditional SPL?
➜ Think of this as an improvement on the original.
➜ Standard SPL does not disappear.
➜ Both innovations can coexist harmoniously in the network.
Frequently asked question:
❼ What is the impact of tokens on the Solana ecosystem?
➜ In general, meme coins are useful.
➜ Firstly, they add an element of fun.
➜ The Solana platform is clear, fast, cost-effective and is also great for meme coins.
➜ Additionally, tokens open the door to innovation, similar to the way NFT tokens stimulate new ideas.
❽ Ethereum has the Restake feature, but what about Solana?
➜Daniel, the CEO, maintains a neutral stance on Restake when it comes to Solana.
➜ Although the concept offers many potential advantages, the architectural differences between Ethereum and Solana may cause confusion among users.
Conclusion:
- Solana will continue to increase the speed of processing transactions per second.
- Firedancer will be a unique addition
- The token extension will simplify the creation of advanced functionality.
You have reached the end of the most important articles 😍😍🔥
