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Solana is a permissionless, decentralized, and secure smart contract blockchain platform proposing to solve the scalability problem.
Solana encodes the passage of time as data, called Proof of History (PoH), and leverages a verifiable delay function (VDF) to reduce transactional overhead between nodes in the network.
Solana is designed for decentralized applications that demand high throughput. Its architecture enables transactions to be ordered as they enter the network, rather than by block. Its uses cases include, decentralized exchanges, payments, micropayments, and distributed storage.
Solana is a permissionless, decentralized, and secure smart contract blockchain platform proposing to solve the scalability problem now. Without sharding.
Anatoly and Eric joined us to answer all questions Solana during Staking Hub's Solana AMA. Solana plans to launch in...
The SOL token.
There is currently no minimum requirement, but selection will be based on amount staked.
The reward amount will depend on the network’s inflation rate, the global amount of SOL staked, the volume of network fees, and for delegators, the validator’s commission rate.
Validators will not have custody over delegator rewards. Rewards will be held in a smart contract and may withdrawn at any time by delegators. Thus rewards will not earn compounding rewards until they are staked. There are reportedly plans for auto-delegation for replicators, a feature that may be extended to validators.
Replicators provide storage space to store the growing blockchain. Anyone may offer the network storage space, and may use basic hardware such as a laptop to become a replicator. Replicators will earn SOL token rewards proportional to the amount of storage provided.
Validators can be slashed. However, validators will not be slashed for downtime. Validators will be slashed for signing illegal transactions and for voting for illegal forks.