The mission of this blog is to follow the journey of the Solana Blockchain as we draw near to MainNet launch, through to project adoption and ultimately disrupting industries with the power of a truly scale-able blockchain.

What is Solana?

A Web-Scale Blockchain for Secure and Scalable Decentralized Apps and Marketplaces

Solana.com

Founded by former Qualcomm, Intel, and Dropbox engineers in late-2017, Solana is a single-chain, delegated-Proof-of-Stake protocol whose focus is on delivering scalability without sacrificing decentralization or security.Core to Solana’s scaling solution is a decentralized clock titled Proof-of-History (PoH), built to solve the problem of time in distributed networks in where there is not a single, trusted, source of time. By using Verifiable Delay Functions, PoH allows each node to locally generate timestamps with SHA256 computations. This eliminates the need for the broadcasts of timestamps accross the network, improving overall network efficiency.

Solana Project Mission

Solana’s mission is to support all high-growth and high-frequency blockchain applications, and to democratize the world’s financial systems.

Where can I learn more about Solana?

The best summary is located in the Binance Research page for Solana.

Binance Research Page for Solana

Key Takeaways

  • Solana is a high-speed single-layer blockchain, currently supporting peak capacity of 65k transactions per second and 400ms block times using a network timestamp system called Proof-of-History (“PoH”).
  • Core technical team comes from Qualcomm, a Fortune 500 chip manufacturer, where they managed projects such as Firefox OS and the BREW Operating System.
  • As of the time of writing, the project has over 80 active 3rd party validators and over 50,000 community members across Telegram, Reddit and Twitter.
  • Raised over 25 MM USD from investors including Multicoin Capital, Foundation Capital, Distributed Global, Blocktower Capital, NGC Capital and Rockaway Ventures.
  • Circ. Supply 8,000,000 SOL (1.60%)
  • Total Token Supply 500,000,000 SOL

Solana Roadmap & Updates

PLANNED DATEMILESTONEACTUAL DATEEARLY / LATECOMMENTARY
2018 Q1Release of Whitepaper2017 Q4EarlyWhitepaper
2018 Q1Release of Single Node Private Testnet2018 Q1On TimeGithub
2018 Q2Release of Multi Node Private Testnet2018 Q2On TimeGithub
2018 Q3Release of Payments SDK2018 Q3On TimeGithub
2018 Q3Release of Smart Contracts SDK2018 Q3On TimeGithub
2019 Q1Release of On-Chain Programs2019 Q1On TimeGithub
2019 Q2Implementation of the Move Virtual Machine developed by Libra2019 Q2On TimeGithub
2019 Q2Release of Multi region, multi cloud testnet2019 Q2On TimeGithub
2019 Q2Release of Smart Contracts Engine2019 Q2On TimeGithub
2019 Q3Release of Incentivized Testnet2019 Q4LateGithub
2020 Q1Release of an improved version of JSON RPC APITBC
2020 Q1Release of Mainnet Beta2020 Q1On TimeGithub
2020 Q2Release of Smart Contracts features
2020 Q2Binance public launch2020 Q2On Time
2020 Q2Activation of token inflation and transaction fees
2020 Q3Mainnet LaunchN/AIn ProgressN/A

The SOL Token

  • Staking – Solana is in the process of enabling inflation rewards for staking the SOL token in exchange for powering and supporting the network.
  • Transaction Fees – Users can use the SOL token to pay for simple token transactions and smart contract executions on the network.
  • Governance – The SOL token will be used in governance voting in the future.

Update 13-Apr-2020: SOL is now trading on Binance! Check out all the places where the SOL token can be traded at our recent post.

Please stay tuned to the blog for more information!

Solana.Blog