Solana Blockchain - Crypto Academy / S4W4 - Homework post for pelon53.
I welcome every one on my home work on [Cryptocurrency Triangular Arbitrage] which was asigned my dear professor @pelon53 who has done a great justice toward this topic and i welcome every other professor and student.
Am....
@kingworldline
I hope you find my home interesting.
1.- Explain in detail the PoH of Solana.
Before I explain in details what PoH of Solana is, I have to establish what solana is all about.
Therefore Solana is the most performant permissionless blockchain, regards on the solana testnet network of which about 200 physical distinct nodes sustain throughput, of not less than 50 transaction per seconds when test tuned on GPUs. Meanwhile for achieving such, it now optimize a new technologies which it's result is now a breakthrough in network capacity which signal a new development in blockchain
Therefore the key of innovation technology of which solana network are made of, which one of them is the "proof of history" known as PoH of solana. With proof of history, a history record of prove of an event time and date can be noted down as records.
Hence the main and biggest challenges facing the system is agreements as regards to time aggrement of which proof of history has done justice in resolving it, meanwhile it happened that the a blockchain nodes does not trust any external receiving node timing stamp or Timestamp in any message.
Proof of work operates on the nodes of the blockchain of which all accept to work on a particular time order when ever a message is delivered on the node which enhance easy tracking when ever there event which are arranged sequentially in a correct order, therefore for the fact that every note has it's own internal timing which do not need communication with each others and in the other way round it saves time.
Hence this problem of time aggrement was solved by Solan when he applied (PoH) by establishing crytographical safe source of time on the network. Hence proof of history is known of high- frequency verifiable delay function (VDF) which apply some step in other to evaluate a unique answer or result which can be confirmed in public.
2.- Explain at least 2 cases of use of Solana
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•SCALLOP
Base in historical point of view is now known to every one that love to hear or read news about blockchain, meanwhile this is to tell you that the NFT game are already growing faster and dominating the blockchain.
Meanwhile Scallop are game which actually works on solana of which we can obtain devident from our asset in NFT. Meanwhile using staking in place to freeze your asset in other to make profit.
The Sol holder need to stake up in order to cultivate their animal with Scallop and have the briveledge to participate in raffle for every week, of which he can win NFT collectible to participate in the next game by exchanging them in place to make some money.
Note that when ever we stake with Sol with tha game, we can get the same return in a native token SCA known as scallop Token.
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Link
•AUDIOS
This is planet of his own on music, meanwhile is built on a Solana blockchain due to to fact it operates like it. Whereby the songs and audio version can be stream online.
Audius is known as a decentralised platform free for anybody to raid on in order to streamline audio with his or her own token known as the audio token. Meanwhile this is a platform which actually hook up many music celebrity together which give out there best of audio recorder for the blockchain users to enjoy.
The Audio token which actually give us the access to this musics is a token on a audius platform of which a trader can use to exchange coin with with others.
3.- Detail and explain the SOLA token.
As the names implies as regards to Solana token, hence (SOL) is known to be the negative token of Solana, hence Lamport’s are fractional sols named after Turing Award recipient Leslie Lamport with 0.0000000000582 Sol which the same as the Lamport value.
Based on staking, in order to secure their network, user can delegate or stake their native token (SOL) to an active validator.
Hence the running of smart contracts and as well sending transaction, the fees can be payed with the SOL token
As regards to the SOL Token distribution and the lauch of SOL five different financing ground of which four are private sales are uses but the solana team in distribution of the token. Hence the private sale begin as of the first quoter of the year 2019 which to conclusion with $20 million seriess of A
Lead was Muliticoin Capital which was disclosed in July 2019.
BlockTower Capital, Foundation Capital, Block change VC, Slow Ventures, NEO Global Capital, Passport Capital, and Rockaway Ventures were among the other partners. Hence in exchange of their partner
As regards to the market valuation, this can be seen in, coin market cap web address. Below is the price, volume, and the market cap
At coinmarket market, the following are the market value of solona
Solana price =$154.93
The market cap =$46,868,610,564
The full dillute market =$78,292,162,275
Volume= $3,375,101,271
As is shown on the below screenshot below.
4.- When did Solana Blockchain see its operations interrupted? Why? Explain.
YES Solana as a blockchain actually got interupted on the evening of Tuesday 14 september 2021 (HongKong Time). which actually lead to the breach of production of a new block which actually deniel alot of transaction in the blockchain, according to the Solana reporting teams it was claimed of “resource exhaustion”. Mean while after this occured on Tuesday it was restored back on wenesday afternoon which took half of a day.
Meanwhile Solana as a blockchain actually experience an increase in popularity because of surge in DeFi application and as well the NFT projects, this blackout started in Tuesday night by the shuting down of the system operation.
Larry Clark the director of research at cryto reveal the issue through his social handle revail the cause of the blackout was due abrupt surge in the transaction process on Raydium, during initial dex offering (IDO) of the grape protocal. Whereby some of the validator ran of Ram.
Mean while according to Solana on its social handle revail that 400,000 TPS flooding Solana blockchain mainnet beta experienced an increase in it's transaction which set it peak above 400000 transaction per seconds (TPS). Thereby flooding the transaction processing queue whuch leads to the lack in prioritization of the network-critical message that leads the network to start forking which now lead to the "resource exhaustion" of the internal storage memory of the nodes which leads to the lack of service.
Anatoly Yakovenko Solana Lab CEO also reported on it social handle for the blackout of the system was "Bots during a Raydium IDO filling up the network with 300k transaction per seconds."
Then after the blackout of the network, it was restored to it normal functions after a half day shutdown on wenesday afternoon.
5.- Check the last block generated in Solana and make an approximate calculation of How many blocks per second have been generated in Solana, taking into account from the initial block to the current one? Justify your answer and show screenshots.
The details and information about the block can be gotten from the block by clicking on the first block.
On the above screenshot I was to ascertain exact transaction of the block which was 3088 with its Timestamp as well.
• The Genesis block make us to realize that #1 of the Genesis Solana block did not actually has any Timestamp
But using Solana explorer the Timestamp we can be obtained including other vital informations, but since yesterday night I wanted to get the screenshot of the full details with Solan Explorer, there web address is down, you can check it out by yourself my processor
Solana
Solana have solves a lot of traditional issues related to it's old mode of functioning, Solana has a new version and structure of which it operates on, of which it can now varify more sufficient consensus algorithm today.
With the rate of development of the blockchchain, it look positive that it has a lot to establish to the benefit of individuals in global.
Am @kingworldline
My special thanks goes to my dear professor
@pelon53