Solana claims to be able to process 65,000 transactions per second, making it one of the fastest in the industry. The Solana network focuses on high transaction throughput and short processing time, which it achieves via its Proof-of-History (PoH) technology. The network’s scalability, combined with its low fees and high speed, makes it a leading choice for many NFT-based decentralized applications (dApps), as well as decentralized finance (DeFi) and digital blockchain-based payment ecosystems. Since its launch in 2020, the Solana network has been dubbed a competitor to Ethereum, and even nicknamed ‘The Ethereum Killer’. The validators get paid the transaction fees when they propose a legal block.Solana is an independent Layer 1 blockchain created as a fast and efficient network with an underlying smart contract protocol. On Binance, participants become validators by staking BNB tokens. Since Binance Smart Chain relies on the PoS consensus mechanism, the platform leverages the PoSA technique. In early 2020, Binance acquired Coinmarketcap, one of the largest online tools for crypto tracking. Binance acquired Trust Wallet shortly after.
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