When Bitcoin came into being about more than a decade ago, it set about to solve a big challenge: peer to peer monetary transaction — making it possible for “strangers anywhere in the world to make financial transactions over the internet without financial intermediaries and payment processors like Visa or Mastercard assisting the transaction.”
This tech know-how that makes decentralized transactions possible — and which created the universe of cryptocurrencies as we have comr to know — is called a blockchain.
But, blockchains previously had one major downside compared to centralized networks like the ones credit-card companies use: they’re slower. As of August 2021, Ethereum typically processes fewer than 15 transactions per second, compared to tens of thousands for Visa’s network.
Solana, on the other hand is one of many new crypto solutions aiming to make crypto networks faster and more scalable. It uses a suite of clever technologies, including a novel mechanism called “proof of history.”
Solana Dreams Big.
With over $30 billion market cap, Solana isn’t interested in competing with Ethereum and other cryptocurrencies on every front. All it really wants is to completely disrupt Wall Street and the rest of the global markets. Solana is building “an open, fair, censorship-resistant global marketplace” that’s better than anything inside of the New York Stock Exchange or any other means of settling trades.
With many developers flocking to Solana, here are some of the exciting projects that are happening on the Solana blockchain.
A Metaverse Platform for Androids, Aliens and Humans
Build, Own, Earn is the mantra of Star Atlas — a blockchain-based multiplayer exploration game. The game is still in its early stages of development, but some parts of its metaverse have already been opened for exploration as it undergoes a staged release.
Star Atlas claims it’s the ultimate haven of “universe of opportunities” thanks to its dual economy, which uses ATLAS tokens as its main currency and POLIS tokens for governance. Players get to complete challenges and earn rewards in both ATLAS and NFTs.
Speaking of NFTs,
A Platform to Earn Tips Just for Liking!
"Civilization advances by extending the number of important operations which we can perform without thinking of them."