cryptocurrency blockchain

Solana

• Open source
• Permissionless
• High transactions per second
• Consensus algorithm: Proof of History
• SOL is the native token
• Transaction fees are deterministic
  • You can't pay higher fees to increase chances of being included in the next block

Proof-of-Stake

• People/entities run programs on computers (validators)
• Validators process incoming transactions as well as vote on and append new blocks to the blockchain
• Validators votes on the legitimacy of a block are stake-weighted
  • More stake a validator has, the more influence the validator has in determining the outcome

Development

• Lamports
  • Fractional SOL
• Public keys
  • Point to accounts on the network
  • Often referred to as addresses
  • 256-bit
  • Shown as base-58 encoded strings
• JSON RPC API
  • All interactions on Solana happen through the RPC API
  • HTTP POST with a JSON body
  • Payload requires:
    • jsonrpc
      • Version number
      • Must be ``"2.0"
    • id
      • Identifier you choose for identifying the call
      • String or a whole number
    • method
      • Name of the method being invoked
    • params
      • An array containing params to use during method invocation
• @solana/web3.js
  • JavaScript library for making JSON RPC API calls