SOL - Happy 4th Anniversary Solana! If You Had Invested $1000 In The Token In March 2020 Here's How Much You Would Have Now | Benzinga
SOL (CRYPTO: SOL), the native coin of decentralized blockchain platform Solana, has taken part in the recent crypto rally, and the token currently trades at its highest level since late-December 2021. The crypto is celebrating its fourth year anniversary on Saturday, and to commemorate the special occasion, here’s a primer on the platform.
The Origin: In November 2017, Solana’s co-founder Anatoly Yakovenko published a white paper describing the proof-of-history, a technique for keeping time between computers that do not trust one another. Armed with the experience in distributed systems he acquired during his tenure at Qualcomm, Mesosphere and Dropbox, he worked toward simplifying synchronization that could make the network “blazing fast” bound only by network bandwidth.
He managed to synchronize computers that didn’t trust each other, resulting in a significantly faster cluster.
Yakovenko began to code for the application in C programming language, and his colleague at Qualcomm Greg Fitzgerald advised him to implement the project in the Rust programming language. On Feb. 13, 2018, Fitzgerald began prototyping the first open-source implementation of his friend’s white paper, and the project was published on GitHub under the name “Silk.” The first release rolled out on Feb. 28, 2018 and demonstrated that 10,000 signed transactions could be verified and processed in just over half a second. Another Qualccomm cohort, Stephen Akridge, demonstrated that the throughput could be massively improved by offloading signature verification to graphics processors.
The trio joined hands to co-found a company, which was then called Loom. Later, they renamed the company as Solana Labs in order to avoid confusion with the Ethereum-based project “Loom Network.” The name “Solana” was chosen to give ...