Solana is a decentralized exchange with a low transaction fee. The average transaction costs 0.00001 USD. Solana is capable of clearing tens of thousands of transactions per second. Its scalability and speed make it an attractive solution for payments and decentralized exchanges. Currently, the Visa network clears up to 3,000 transactions per second, but Solana’s technology can scale up to a staggering 10,000 TPS.
The Solana blockchain is based on the RUST programming language and uses Proof-of-History to keep transactions secure and speedy. This ensures low transaction costs for users and developers. Because the Solana network is distributed across thousands of independent nodes, it also remains censorship-resistant.
Solana has a number of partners in the crypto industry, including Microsoft, Google, and Apple. The platform uses a blockchain with a distributed ledger, which is backed by several top organizations in the world. Solana has a network of more than 200 physical nodes and supports a throughput of more than 50,000 TPS. To achieve these levels of scalability, Solana uses distributed ledger storage called Archivers. Moreover, the system uses audits to maintain data integrity.
Another benefit of Solana is that it is faster than any other blockchain currently available. Solana’s blockchain is set up to run faster than Ethereum. In fact, it can process up to 65,000 transactions per second at peak and three thousand at average. It also uses less energy than Ethereum and other major cryptocurrencies.