Solana
High throughput blockchain — 50,000+ TPS, low fees, DeFi and NFT ecosystem.
Solana (SOL) is a blockchain platform focused on scalability — capable of processing 50,000+ transactions per second with fees under $0.001.
Key characteristics:
•Proof of History (PoH) — Solana innovation creating a timestamp of transactions without node communication
•Proof of Stake + PoH combination
•400ms block time (Ethereum has 12s)
•Ecosystem: Raydium DEX, Jupiter aggregator, Magic Eden NFT
SOL staking: ~7-8% APY
Criticisms:
•Centralization — relatively small number of validators
•3 network outages in 2022
•FTX collapse (2022) destroyed SOL price (-95%)
Recovery:
•SOL from $8 (2022 bottom) to $200+ (2024) = 25x
•Meme coin boom on Solana 2024 (Bonk, dogwifhat)
•Firedancer client (Jump Crypto) as upgrade solution