Does it challenge Ethereum?
The value of Solana fluctuates between ＄1 and ＄3 last year, but at the beginning of this year, its value rises from ＄2 to ＄200, and the market value reach＄55,5 billion, going beyond DOGE, XRP to rise to the top 6 more, with daily trade volume meeting ＄ 9.7 billion. As the most-watched public chain, its ecosystem expansion is closing to Ethereum. So, what is Solana? Why does it rise so fast?
What is Solana?
Solana is an emerging public chain, with the advantage of low gas fees, quick confirmation, and expandable. The key of the Solana expand scheme is a decentralized clock called Proof of History(PoH) which aims at settling the matter of time that lacks a single reliable time source in the distributed network. PoH allows each node to use the SHA256 algorithm to generate the timestamp via a verifiable delay function, which improves the whole network efficiency without the demand of broadcasting timestamp. At the same time, Solana has a detailed expansion scheme. With the improvement of the capacity of hardware, broadband, and network, the performance of the network will also expand, and eventually support the large-scale blockchain application of the internet.
Founded by Anatoly Yakovenko in 2017, Solana possesses a core team composed of employees who used to work for Qualcomm(the top 500 chipmakers in Fortune), In performance, Solana optimizes network with such 8 core technology as Proof of History(PoH), Pipeline, Turbine, Sealevel, and Cloudbreak. No conflicting block, Quick communication, valid verification, and low delay. In short, it’s just like a supercar that runs on the blockchain road.
Hundreds of applications make up the Solana ecosystem
For the understanding of Solana ecosystem development in the past two months, AEX researchers analyze the classification of the major domain in the Solana ecosystem based on DApp websites, official messages, experts, and hackathons, involving the original protocol based on the Solana public chain, and the existing the protocol that is about to join in Solana ecosystem.
As of September 2021, there are over 400 applicated projects operating on the Solana ecosystem, covering eight major fields of ecosystem respectively called DeFi, tool, infrastructure, NFT, game, wallet, DApp, and development. It includes nearly 21 classifications, such as DEX, derivative, visual trade analysis, loan, asset composed, and stable currency, and is also continuing to depth classify every week. Solana ecosystem application is covering the network across the board.
In the DeFi field, The layout of Solana has coverd 12 market segments, including DEX, derivative, oracle machine, insurance, prediction market, stable currency, IDO & raised platform, trade & liquidity, revenue & polymerizer, asset composed, loan, and community, which are also the most complete segment on Solana ecosystem.
To cut the cost of developers, Solana develops a cross-chain workbag called Neon EVM solution for ETH DApp developers to operate applications at high speed with low cost on Solana on-chain, at the same time, it gives any DApps of ETH ecosystem the edge of high throughput on Solana on-chain, quick block time, and lower gas fees, etc. The developer can use multiple programming languages to write applications without changing code.
AEX distributes Solana ecosystem very early, adding SOL DeFi savings after listing SOL in spot trading, keeping the depth interaction with Solana ecosystem Hotpoint projects, and opening up transaction and savings of Solana on-chain asset, including SOL、RAY、SRM、FIDA、LIKE、and ATLAS. Nowadays, SOL activity is in full swing. Come to participate in spot trading and savings of SOL on-chain assets, and get an extra airdrop!
AEX Operation Team
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