Solana and its Ecosystem

The Solana (SOL) platform was founded in 2017 by Anatoly Yakovenko. Before founding Solana, Yakovenko worked as a software engineer at Dropbox, with extensive experience in compression algorithms, and later at Qualcomm. Yakovenko, along with Eric Williams and Greg Fitzgerald, created a new mechanism to solve the traditional throughput limitations in Bitcoin and Ethereum. Currently, Solana can process up to 65,000 transactions per second (TPS), and it only takes about 400 milliseconds for the block to reach the final confirmation. It can support a maximum of 710,000 TPS on a standard Gigabit network and a maximum of 28.4 million TPS on a 40 Gigabit network. Solana’s ultimate goal is to prove that the transaction throughput of the blockchain can be expanded proportionally with the network bandwidth, achieving the three characteristics of rapid expansion, security, and decentralization.

As a direct competitor of the Ethereum ecosystem, the “Ethereum Killer” Solana (SOL) is committed to becoming an Internet-scale blockchain network for users to create a fast, secure, rapidly expandable, and decentralized application platform. Solana was first developed in 2017 and is committed to improving the scalability of the public blockchain while ensuring decentralization and security. Since the rise of DeFi in 2020, FTX has chosen Solana as the underlying support for its decentralized financial ecosystem.