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Solana closes account and recovers paid SOL rent

Blockchain technology is constantly evolving with the emergence of each new platform. Solana and Ethereum Virtual Machine (EVM) are two leading blockchain technologies, each with its own strengths. This article will take a deep dive into Solana’s unique account rental system and its technical comparison with the EVM chain.

What makes Solana’s account system unique

The Solana blockchain uses an innovative account model that includes not only standard token balance accounts, but also accounts that can store smart contract status. Unlike EVM, all Solana accounts can store data, and execution accounts are immutable, and their status must be stored in non-execution accounts. This design allows any program on Solana to read the data of any account, but only the "owner" program of the account can modify this data.

There are three types of accounts in Solana:

Data account, used to store data
Program account, used to store executable programs
Native accounts refer to native programs on Solana, such as "System", "Stake", and "Vote".

Data accounts are divided into two categories:

All system accounts
Program Derived Account (PDA)
Each account has an address (usually a public key) and an owner (the address of the program account). The following is a detailed list of the complete fields stored in an account.

There are a few important rules regarding ownership:

  • Only the owner of the account can change the data in the account and extract the lamport

  • Anyone can deposit lamport into the data account

  • When the data in the account is erased, the owner of the account can designate a new owner

Program accounts do not store state.

For example, suppose you have a counting program that increments a counter. You need to create two accounts, one to store the program code and another to store the counter itself.

To avoid account deletion, you must pay a rent

rent

It costs SOL to maintain data in an account. This amount of SOL is called rent. If you deposit more than two years' rent in an account, the account will be exempted from paying rent. The rent can be recovered by closing the account. Lamport will be returned to your wallet.

Rent is paid out at two different points in time:

  1. When referenced by a transaction

  2. When epoch changes

A certain percentage of the rent collected will be destroyed, and the other part will be allocated to the voting account at the end of each slot.

When an account does not have enough balance to pay the rent, the account will be released and the data will be cleared.

Rent Recovery

Based on the characteristics of Solana, each Token or NFT has an independent account. When you first obtain a new Token or NFT, you need to pay a certain amount of Sol as account rent. If one of your accounts is no longer used, such as the remaining account of an NFT that has been sold, or the received worthless tokens, these token accounts can be safely closed and the account rent can be refunded to the main account.

Solana Rental Details

Rent calculation basis
The Solana network charges rent for storing state information (such as accounts, smart contract status, etc.) to prevent the network from being occupied ineffectively for a long time. The minimum balance required for each account depends on its data size, and the current formula is 0.00000348 SOL per byte per year.
Calculate rent refund
When an account is closed, the SOL locked as rent will be released and returned to the specified account. The specific refund amount is equal to the rent paid when the account was created, minus the rent used during the account's existence calculated in proportion to the time. If the account has existed for a short time, the rent refunded will be higher.
Example
Assuming that a Token account requires 200 bytes of storage space, based on the current rental rate, the initial rental deposit required is approximately:
200 bytes x 0.00000348 SOL/byte/year = 0.000696 SOI
If the account is closed after only a few months of use, most of the initial deposit will be returned
Precautions
Dynamic rates: Rental rates may be adjusted based on network congestion and governance decisions
Minimum Balance: An account must maintain a sufficient balance to cover its data storage costs, otherwise it may be reclaimed (purged) by the network.
Before taking any action, it is best to use the tools officially provided by Solana or query the latest rental information through your own node to obtain the most accurate data and fee estimates.

Storage and interaction mode of EVM chain

In the EVM chain, accounts are divided into "code accounts" that hold smart contracts and ordinary external accounts. The storage space of smart contracts is designed as a key-value pair mapping, which allows each contract to only access and modify its own storage space. This design enhances the encapsulation of data, but also limits the flexibility of cross-contract interactions (Solana Wiki)​.

Technical advantages and application scenarios

Solana's account system and rental mechanism provide an ideal environment for high-frequency trading and big data applications, especially in financial and exchange applications that require extremely high throughput and low latency. EVM, with its mature development ecosystem and wide contract compatibility, is suitable for decentralized applications that require complex logic and multi-party participation.

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