Solana is a blockchain designed to support massively scaling decentralized applications (dapps). It claims a maximum throughput of more than 50,000 TPS and block times as low as 400 ms. Decentralized applications, or dapps, are widely regarded as one of the key use cases for blockchain technology.
In the last few years, dapps have come on in leaps and bounds, with dapp developers launching everything from games to decentralized finance (DeFi) platforms on blockchain—and a concomitant explosion in user interest.
But there's a problem. The vast majority of these dapps run on Ethereum, which has struggled to keep up with rampant demand—leading to congestion on the network and soaring transaction fees.
Now Solana, a blockchain platform that had its beginnings in 2017, is aiming to step into the breach, and succeed where Ethereum is currently struggling.