Blockchain technology is rapidly evolving, but challenges such as scalability, speed, and connectivity to real life still remain. The 'Solayer' coin emerged to address these issues.
Today, I want to explain this Solayer coin in a simpler and more realistic way.
Beyond Solana's limitations, Solayer coin.
Solayer Coin (LAYER) is a new cryptocurrency derived from the Solana blockchain, created to overcome the limitations of the existing Solana and make it easier for more users to utilize blockchain.
While Solana is known for its fast speed and low fees, issues like transaction delays and slowdowns often occurred when the network was congested. For example, during the Raydium token sale in 2021, 400,000 transactions per second flooded the network, causing it to crash for an astonishing 17 hours, and similar incidents have occurred since.
Solayer was born to solve these problems.
Currently, Solayer ranks 194th according to CoinMarketCap, with a total issuance of 1 billion coins, of which approximately 210 million are in circulation.
Where can I trade?
Solayer is listed on famous overseas exchanges such as Binance, Bybit, OKX, BITGET, and MEXC, making trading accessibility very high.
Solayer is built on technologies such as InfiniSVM, InfiniBand RDMA, and PoA+PoS. Let me explain each one easily.
Existing blockchains had to move transactions (cars) in a single line, which often caused congestion. Solayer has created multiple lanes for the road, allowing many transactions to be processed simultaneously. As a result, it can handle over 1 million transactions per second, and complex apps run without issues.
Previously, data exchange in blockchain networks required multiple steps, but Solayer enables real-time communication between nodes like a walkie-talkie. This has dramatically increased speed.
In blockchain, it is important to verify whether transactions are processed correctly. Solayer has a primary validator called 'Mega Leader' that handles most of the work, while other validators check this process again in the background. Even if a problem arises in the middle, a backup validator immediately takes over, ensuring high stability.
The integrated financial system that Solayer envisions.
Solayer aims to build a usable financial system, not just rely on technology.
sSOL: A liquidity token received when users deposit SOL. This can be used for investment or payment.
sUSD: It is a stablecoin pegged 1:1 to the dollar, and you can earn an annual interest of 4% by investing in U.S. Treasury bonds.
Emerald Card: A physical card that allows users holding sUSD or USDC to make payments anywhere in the world. It can be used for online, offline, and ATM withdrawals through Visa integration.
To summarize, if I deposit Solana, I can participate in DeFi services with sSOL, and if I hold sUSD, I can make direct payments in real life using a card. This means that I can travel abroad without the need for currency exchange with just this card.
Solayer is not just a simple cryptocurrency; it is a new approach to overcoming the inherent limitations of the Solana blockchain with hardware and structural technology.
If Solayer's goal of achieving 1 million transactions per second becomes a reality, it could be a significant turning point for the popularization of blockchain and its application in real life. This is also why we look forward to the next steps of this project.
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