Is it Good to Invest in Solana Now in 2022

Since new year is coming it is right time to invest in solana, because we need a high performance blockchain, and solana will support any number of chains.

Whats the Next thing to Invest in 2022

The next thing you should invest in is Solana in 2022. They have a really great idea and I think they will go up in value so much over time, because of the proof of history concept for them to tour their transactions with nodes on one another. It’s pretty awesome and it can be projected onto a public ledger which would make their transactions even more awesome. This company is a bit like a bitcoin but better in some ways since it has many features that are going to change my life when i use this cryptocurrency . It seems that there are enough people here using this currency already, but still haven’t checked out yet. But i will probably buy some coins soon from one of my friends who already uses solana tokens.

Is it worth investing in Solana?

To build the protocol back-end in such a way that any blockchain community could use them for processing. this would be like an interledger play, except instead of routing value between ledgers, this is routing data packets among them. i’m not sure how solana’s (or anybody’s) sharding solution will compare with ethereum or other blockchains. doing the math on these things is hard so i don’t really know what to expect in terms of sharp bottlenecks and potential problems when scaling gets tight. When they launch their testnet. i’ve been seeing a lot of buzz in the last few months around sharding and plasma and random other scaling things, so it’s possible that there may be multiple blockchain services out there offering various levels of decentralization/performance trade in future.

The Solana High Performance Blockchain

I see solana as being one of many players in the race to build the blockchain software stack. different groups will do things better or worse than others, but they all have slightly different approaches to solving this problem set. Solana has a great shot at building something truly differentiated from ethereum because they’re using sequential rather than parallel processing which should be much easier to realize at scale (in). for people who don’t know, the solana high performance blockchain is an open source project, and there’s nothing stopping any blockchain community from using it as a backend processing engine if they want to.

You can also invest in Other Projects like Solana

I would be happy if projects like solana or plasma succeed, because it will mean that there are more options out there for blockchain developers. the big take-away imho is that this protocol stack is still very much in active development and i don’t see any solution as being The Solution. we see our role at synereo like the people who were inspired by torvalds’s linux kernel (which incentivized other groups to work on their own kernels) and went on to create a number of Unix variants; even though they didn’t become mainstream, each one brought some value to its niche audience which was enough motivation for them to exist and thrive within the ecosystem. We’re creating a base layer that we think is relevant to the next generation of decentralized networks, but we’re also open source and hope that other groups will also create solutions to serve different needs.

The White Paper

The white paper is for a specific blockchain protocol known as “solana”. It is not really designed for any particular use case. it’s just an idea about how you could build a blockchain from scratch if you wanted to. there are no rules or stipulations about what kind of system would be built on top of it, nor are there any suggestions on how this new blockchain should be used.

If your goal is decentralization at scale, then i would argue it’s only necessary because the industry has failed so far in its attempts to make centralization work at massive scale. It is a priori not possible to maintain the benefits of decentralization while scaling beyond certain limits, and that’s okay because we don’t know what this limit is yet. I think there will be many different solutions that all work for different use cases, and each one will have their own tradeoffs in terms of security vs speed.

The Aims of Solana Project

The Solana project aims to create a high-performance blockchain capable of confirming thousands of transactions per second (TPS) without compromising security or decentralization. It is also attempting to make the system easy to run and scale.

Features of Solana

Some features that would help Solana achieve these objectives are support for state channels and Proof-of-History (PoH) consensus. A sharding solution that uses PoH is one of the project’s main innovations, although it may be possible to implement more than just two types of shards in future iterations. As an initial launch, however, Solana will only offer PoH on its main chain while using Ethereum as its sidechain.

As for partners, Solana has a number of them that it can call on for support. For example, the project raised a $5 million seed from 1KX and counts Coinbase Ventures as an investor.

The public sale

The public sale was held in June 2018 after the pre-sale raised over $20M from high profile investors including Sequoia Capital, DCVC (Data Collective), Zhenfund and Polychain Capital among others. The maximum TPS to be achieved by Solana is 80k per shard with up to 2 shards present during initial launch – this would equate to a total of 160k TPS – which makes it one of the highest performing blockchains around. This is possible due to its Proof-of-History consensus mechanism based on the DAG (Directed Acyclic Graph). Each transaction is hashed with a Proof-of-History stamp that tracks it along the chain.

The consensus mechanism allows for asynchronous Byzantine Fault Tolerance (aBFT) – i.e., Solana can reach consensus without any locks whatsoever, making it faster to scale than others that require global locks before scaling. Per shard, there are three types of nodes that validate transactions: proposers, attesters and verifiers. The conventional blockchain model requires miners to compete in PoW against each other to score valid blocks while also spending significant amounts on hardware rigs and energy consumption.

With Solana’s PoH, everything changes but the network will still run smoothly as a cohesive machine. The aBFT consensus mechanism ensures a faster, more scalable and secure system. Each node repurposes its existing hardware to become a validator node with no additional computational requirements. In fact, it is possible for older computers to join the network as nodes after upgrading their CPUs with add-in cards that support high performance computing (HPC).

Compatibility of Solana

Solana is also compatible with state channels based on the Proof of Replication (PoRep) protocol. Therefore, while conducting smart contracts in Solana’s sharded blockchain network, users may opt for some operations not to be executed on-chain but instead run off-chain using a state channel architecture where verification happens by a committee of nodes running on different shards simultaneously. A good example of such an operation would be a dapp that requires both parties to sign transactions before execution. Using state channels, the signing does not need to happen on-chain and is only executed once the conditions are met – or confirmed by those involved in the transaction.

Solana’s main chain will serve as a sidechain for Ethereum smart contracts while using its own Proof-of-History consensus mechanism, creating a faster more scalable blockchain with native support for all EVM (Ethereum Virtual Machine) operations. This also ensures portability through interoperability with other blockchains including Bitcoin via Rootstock’s RSK platform. The benefit of cross-chain interoperabilty with existing technologies is unprecedented.

1000+ Transactions Per Second (TPS)

Sidechains can be created which enable developers to create new scaling applications on the main chain that will not affect the network performance. For example, a game with 1000+ transactions per second (TPS) would not adversely affect other users on the Solana blockchain. With Loom SDK, it is now possible to deploy high-throughout games and non-fungible tokens directly onto Solana’s mainchain for processing or any other use case requiring instant transaction verification without worrying about congestion on the blockchain itself. This opens up possibilities for many more use cases than VISA coupled with an easy plug and play via statechannels.