What's Solana?

kP4P...jach

17 Jan 2024

Solana is a Blockchain built for mass adoption. It's a high performance network that is utilized for a range of use cases such as finance, NFTs, payments and even gaming. Solana operates as a single global state machine, and is open, interoperable and decentralized.
The Economics of Solana is

Inflation design
Proposal inflation schedule
Staking yield
Transaction fees
Storage rent economics

Solana Design Proposals

The Blockchain has two different states of design proposals

Accepted proposals
Implemented proposals

Accepted proposals: These architectural proposals have been accepted by the Solana team,but are not yet fully implemented.
Implemented proposals: These architectural proposals have been accepted and implemented by the Solana team.
Solana architecture goes on to satisfy all three desirable properties of a proper Blockchain which are scalability, security and decentralization.

Solutions Solana Offers
Solana Offers solutions with these tools such as

Token 22: It’s an enterprise friendly feature built in collaboration with large regulated institutions that makes issuing of stablecoin for projects a lot simpler( It has a native support for stablecoins and monetization options) making it a more viable business decision.
-Onchain metadata: It allows metadata to be coupled with transactions enabling simplified payment reconciliation.
-Transfer hooks, confidential transactions.
Solana Permissioned Environments(SPEs): It brings a private Solana virtual machine to businesses with custom requirements.It can be used to customize your environment, native support for enterprises, built for scale and a Permissioned chains for large scale enterprises.

3. Game Tooling: The game toolkit on Solana create a world where players can play and own, enabling new onchain economies. A suite of tools to enable scalable Blockchain games are Gameshift by Solana Labs, xNFTs by coral and SFTs

4. Payment Tooling in the Solana ecosystem makes it easy to enable frictionless,near-zero payments tied to web3 native experiences. A suite of tools built to power simple, scalable payments are Solana Pay, Solana Pay * Shopify ( an easy e-commerce setup), Decaf (POS) and Tiplink (Links as wallets).

5. Financial Infrastructure: Enable instant concensus and real-time settlement for your global financial transactions and drive market adoption. A suite of tools to power efficient financial Infrastructure are
-Real World Assets (RWA)
-Raydium and open book help in smart contract- enabled price discovery, letting users automatically and transparently match their orders with one another.
-Peer to peer lending protocols such as mrgnlend,solend and lulo.

6. Digital Assets such as Token 22, NFTs, fungible tokens and RWA.

7. web3 developers to build mobile native Dapps.

USE CASES OF SOLANA

The use cases of Solana include