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Is Solana Similar To Bitcoin?

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No. Solana uses the less secure but more effective proof of history (POH), which enables transactions to be completed quickly and cheaply.

What Type Of Cryptocurrency Is Solana?

Solana works on a combination of POS and delegated POH protocols. POS is an algorithm that allows a blockchain to maintain accurate information across all of its users. With Proof-of-stake, you can pledge your coins to a validator.

A validator is a computer running the blockchain software with its own copy of the blockchain. These validators are the equivalent to miners in a proof-of-work blockchain like Ethereum’s.

What Is Special About Solana?

The sheer speed of Solana is one of its most appealing features. One of the few protocols with more than 1000 transactions per second is Solana. Solana supports a minimum of 50,000 transactions per second, which is around 3,800 times faster than Ethereum and 10,000 times quicker than Bitcoin.

How is Solana So Fast?

Solana’s POH consensus mechanism allows Solana to run and keep a cryptographically-secure atomic clock that enables validators to check the time and order of all data regardless of whether or not they’re connected to the entire network.

Read more about Is Solana The Fastest Blockchain?