How Does Solana Work ⁉️💥🔥
The project implements a unique blockchain synchronization algorithm called Proof of History (PoH), which replaces the outdated Proof of Work (PoW). Among the advantages of the new mechanism are:
Increased transaction processing speed.
Reduced transaction processing fees.
Ability to order and verify transactions without requiring trust confirmation between network participants (achieved through sequential hashing technology).
Node operations are scheduled, speeding up all data processing processes.
The new PoH algorithm creates a continuous long chain of hashed transactions, which can be easily verified if necessary. For comparison, the Bitcoin blockchain (BTC) uses the PoW consensus algorithm, which creates massive blocks of unordered transactions. The system here spends more time and resources searching for and verifying the necessary data.
In addition to the PoH algorithm, Solana implements another consensus mechanism - Delegated Proof-of-Stake (DPoS). It serves as an alternative to PoW and PoS solutions, aiming to achieve maximum performance with minimal costs.
