Solana Blockchain - Crypto Academy / S4W4 - Homework post for pelon53.

First of all let's discuss some facts about Solona blockchain

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Solona is a third generation blockchain platform which is developed for Decentralized apps, It was developed at the san francisco based solana laboratories. This opensource project is maintained by the geneva based solona foundation.

It is a proof of stake(PoS) blockchain due to this it is environment friendly unlike bitcoin which is proof of work(PoW) blockchain.

Both the PoS and PoW mechanisms reward their validator(miners) for successful mining. In Solona blockchain miners are rewarded with the SOL token. The user don't need to run the node on their end, they can earn by delegating their stake to a validator.

Etherium is the major rival of solona, which is the largest platform for Decentralized apps, solona offers faster operations and low transaction fees than etherium blockchain.

There are 8 key innovations which power Solona blockchain:

• Proof of History.
• Tower BFT.
• Turbine.
• Gulf Stream.
• Sealevel.
• Pipelining.
• Cloudbreak.
• Replicators.

QUESTION 1:

ANSWER 1:

Solona is the first web scale blockchain currently salona testnet can handle 50,000 transaction per second when running with GPU when they are operated over a network of 200 nodes.

Proof of history is the core innovation of solona network, a proof of historical events are kept as a record on each node, These historical records are use to prove the occurrence of an event that has been already occurred at a specific moment of time, another blockchain require to confirm the occurrence of an event from another node which makes the transaction slow and in solona blockchain the records are kept in each node with there time of occurrence so that they do not required to to confirm the occurrence of events from another node.

The above reason makes its different from other chain that require confirmation from other node across the network that's why they need to wait for response from other node in the network.

QUESTION 2:

ANSWER 2:

1SoL

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^{1SoL over Solona Official site.}

1Sol is a dex aggregator based on solona network, It is developed to bring liquidity from DeFi and CeFi for the multi-chains. It utilizes a peer-to-peer network for order sharing, data pulling and route order across the available liquidity efficiently.

^{1SoL Homepage.}

It finds the most cost effective way from different DEXs. By optimization of slippage, swapping fees and token prices and then executing trade orders automatically. It makes easy for a user to do trade more profitably.

^{Trade UI of 1SoL.}

It is efficient than checking manually and finds complex trading routes that has lower gas fees.

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Serum

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^{Serum Homepage.}

Serum is developed as a Decentralized exchange that is build over the solona ecosystem,It allow the user to execute transactions with a lower gas fees and with a fast speed.

^{CryptoCurrency Pairs listed on Serum as CoinMarketCap Says}

The platform is advertised as a fully Decentralized network, hence KYC is not required, It is Decentralized although it offers the feature of order book as the centralized exchanges have, The Serum exchanges have varities of cryptocurrency listed over it.

Serum offer developers to build their DeXs and Defi games over the platform as it is open source and you do not required their permission to work on it.

QUESTION 3:

ANSWER 3:

^{SOLA Token Profile Oven SOLONA Ecosystem}

Sola token is basically a Defi that is developed over the Solona betwork. It offers the use of both Decentralized exchange (DeX) and centralized exchanges (CeX), the sola token has its liquidity pool. The sola token has done collaboration with the Serum exchanges and integrated into the sola token exchange.

Currently sola token exchange is not fully operational and when it will became fully operational it has a plan to offer stake, swap, trade, lottery and NFTs

The native crypto currency for Sola Token exchange is called SOLA, this is the details shown by coingecko for SOLA Token.

Current Price :$0.061566
Market Cap: $1,688,756
Total Supply: 27,153,077

QUESTION 4:

ANSWER 4:

On 14th of September 2021 the solona network encountered a sudden interruption in the network, this occurred when the price of solona was started bullish movement in January it rise around $2 to $200, this price movement attracted traders and the load on the network get increased which is to be believed that the nodes can't able to handle the transactions and the load.

After this incident the solona official twitted about this incident that tells solona mainnet-beta has experienced instability and the engineers are investigating the issue.

After this the second tweet tells that Resource exhaustion has caused the inaccessibility in the service and validators may need to restart their machines.

On the next day they stated that the mainnet-beta encountered a large increase in load of transaction and it reached around 400,000 transaction per seconds.

QUESTION 5:

ANSWER 5:

The solona has it's block explore where we can search for blocks, accounts, transactions, programs and tokens.

Here we can see the live cluster stats, the current block is 99,397,436 and block height is 89,024,966.

As we can see the cluster time is Oct 2 2021 and as our professor @pelon53 told us that the solona network starts it's Operation in march 2020, since then 19 months are passed, It means the network is operating since 19 months.

Let's calculate How many blocks per second are generated

Total time since first block generated : 19 months.

Time of operation in seconds = Total time since first block generated × Total seconds in one month.

=19 × 2628002.88

= 49932054.72.

Average time per block is generated = 49932054.72/99397436.
=0.5023475124650097.

This conclude that on an average 0.5 blocks are generated per seconds, It means 2 blocks are generated per seconds.

Conclusion

In this lecture given by professor @pelon53, I learned the following

• I have done research over solona blockchain and learned about its core innovations and beriefly discussed Proof of history which is the key for solona's high speed.

• We discovered the implementation of solona network over the 1SoL DEX and Serum Exchange.

• We discussed about the Sola Token exchange and its native currency which is SOLA TOKEN.

• We have seen that when the solona blockchain has experienced interruption in the network and why this happened.

• After that we have explored the solona block explorer and calculated how many blocks are generated in one second.

Thank You