The problem of blockchain scalability is old, but nevertheless burning. Ethereum has been claiming for years that it could solve it with sharding, and it sort of has, but with some side effects. Meanwhile, other blockchains use side-chain or off-chain computing as a way to reduce the load on the network and these methods lead to improvements in the traditional linear blockchain structure, however the greater complexity leads to imminent technical problems. In addition, there is often a need to reconcile different branches, leading to reduced involvement of the entire network and therefore – jeopardizing decentralization.
Solana is a (relatively) new blockchain platform that aims to solve the scalability problem using several unique innovations. The blockchain, which name refers to a sunny beach in California, where its creator Anatoly Yakovenko used to spend his time before releasing the whitepaper in 2017, celebrated its mainnet beta one year anniversary in March 2021. And while the latest fundraising round led by Andreessen Horowitz and Polychain Capital brought Solana additional $314,159,265, which in turn the team promised to spend mostly on the expansion of the blockchain, most recently, the assistant to all marketers, California-based Neon Labs launched Ethereum Virtual Machine on Solana, thus inviting the diverse range of Ethereum-native projects to the network.
The Solana team has introduced the Proof of History consensus and Tower BFT to the world. In this article we will focus on these two novelties that allegedly help the network grow and still be quick, secure and decentralized.