There has been a massive boom in the Blockchain and Web3 popularity. People have begun to obsess over NFTs, Cryptocurrencies, and blockchain as a whole. This boom has been particularly significant for the Ethereum network. It has become the de facto network for minting tokens, NFTs, and other projects. This popularity has, however, caused a massive strain on the network. The network has become riddled with critical issues like increasing gas prices. The network is unable to handle the sheer number of transactions that are queued on it. This has paved the way for alternatives like Solana, which has promised to fix most of these issues. Let's look into what it is and how can help make the technology more accessible.
This is to say, that Solana is a faster and more performant blockchain than legacy blockchains. Solana is almost instantaneous when it comes to processing transactions. It also does so with a minimal gas fee. It can handle thousands of transactions per second. The chain has verified billions of transactions to date. It also uses Rust, which is an extremely fast and powerful language. This all enables Solana to be appealing to both developers and businesses. Solana also uses the much more liked Proof-Of-Stake Protocol and optimizes it via the Proof-Of-History Protocol.
Solana has a block time of 400 milliseconds, yes you read that right, 400 milliseconds. This is especially fast when you compare it to Ethereum's 10 seconds and Bitcoin's 10 minutes.