Solana aims to do what other blockchains do at a lower cost. But if you're still confused as to what it is and how it works, we've got you covered:
, in its unique way. This trilemma describes a set of three major challenges that developers face when building blockchains: decentralization, security and scalability.
Generally, blockchains have greater scalability, depending on the number of transactions per second they can support, the more and better they scale. In decentralized blockchains, however, time discrepancies and higher throughput slow them down, meaning that more nodes verifying transactions and timestamps take more time.
Moreover, PoH can be considered as a high-frequency Verifiable Delay Function , a triple function to produce unique and reliable output. VDF maintains order in the network by proving that block producers have waited enough time for the network to move forward. SOL token operation scheme is similar to that used in the Ethereum blockchain. Even though they function similarly, Solana token holders stake the token in order to validate transactions through the PoS consensus mechanism. Furthermore, the Solana token is used to receive rewards and pay transaction fees while also SOL enabling users to participate in governance.
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