Fecha de registro: 8 sept 2022


Solana and Avalanche What is Solana (SOL)

Solana (SOL) is a cryptocurrency that runs on a fundamentally new blockchain that uses a unique consensus mechanism called Proof of History (PoH). Its name is translated as “history proof algorithm” and such a mechanism is based on adding timestamps to blocks. This allows you to determine exactly when an event or transaction occurred.

The easiest way to explain how POH works is with an example: if you take a photo with a fresh newspaper in your hands, you can prove that this photo was taken after the newspaper was printed. The way POH works is the same: with proof of history, you can create a historical record that proves that an event happened at a specific point in time.

The SOL cryptocurrency allows holders to earn money by staking - to receive income for supporting the network, simply by keeping coins in their account and not spending them. SOL also entitles its holder to participate in the management of the project. What is Avalanche?

Avalanche is an open source platform for running decentralized applications, as well as deploying public and private blockchains in a single scalable ecosystem.

AVAX vs Solana you can read here

Avalanche consists of a main network (Primary Network) and an unlimited number of subnets (Subnet).

In turn, the main network includes three blockchains:

Platform Chain (P-Chain) stores metadata, coordinates validators, and keeps track of subnets;

Contract Chain (C-Chain) allows you to create Ethereum-compatible smart contracts;

Exchange Chain (X-Chain) provides tools for exchanging data across subnets, as well as creating fungible tokens and NFTs.

Avalanche subnets are similar to Ethereum’s L2 solutions and Polkadot’s parachains, but with completely isolated blockchain states.

Any Avalanche user can create a subnet. To do this, you need to pay a fee of 0.01 AVAX.

All Avalanche nodes must verify transactions on the main network, and optionally on other subnets.

The creators of subnets can include various parameters in them - run several blockchains and set their own requirements for validators, such as the mandatory passage of KYC / AML.



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