Research Report on Solana: practical applications, advantages and challenges
2022-02-03 01:23:12 【Chain catcher】
source ： Gray official website
compile ：Richard Lee, Chain catcher
Solana It is a new generation Internet platform , Its structure is an encryption network based on publicly traded blockchain .Solana The open source software network coordinates computers scattered all over the world into a complete unity 、 Cloud platform owned and operated by users .Solana Support high-speed communication on single-layer blockchain 、 Low cost transactions , This reduces the need for （ Other networks usually need ） The need for additional expansion solutions .
SOL yes Solana The original token of the network , Represents part of the ownership of the ecosystem .SOL Tokens are used for ：（1） Support decentralized applications （DAPP）,（2） payment ,（3） Pay for network operation expenses ,（4） Through pledge SOL Provide network security , as well as （5） Promote network governance .
chart 1:SOLANA Aggregate statistics , By 2021 year 11 month 29 Japan
Solana Solutions for
Solana The network aims to provide developers with a high-performance network Web 3.0 Cloud platform , In the 1 Layer provides scalability at blockchain level . Its solution is designed to be politically and geographically , Optimize speed 、 Network cost and degree of decentralization , So as to eliminate Ethereum chapter 2 Complexity of layer solutions . To be specific , These characteristics can be quantified as ：
• Speed ： Every block 400 millisecond
• cost ： Each transaction costs 0.000005 SOL（ About us 0.001 dollar ）.
• Degree of decentralization ： Global total 2242 Nodes .
Solana Through a special structured approach with eight core innovations , And the optimization of different concession schemes in technology , To achieve this level of performance . These concessions include a relatively low degree of decentralization （ Compared with networks like Ethereum ）—— To some extent, this allows the occurrence of network interruption , Such as 2021 year 9 month 14 Japanese “DDOS” The attack made Solana All functions of have been forced offline for about 24 Hours . even so ,Solana Still attracting users who favor this kind of network design .Solana Several aspects are being adopted , expand Web3.0 The market scale of blockchain Cloud Computing ：
- new user ： in the past , There are a number of price sensitive users who don't get a good service experience on the chain ,Solana Now enable these users to access existing encryption applications , Such as decentralized Finance （DeFi）、NFT And others Web 3.0 DAPP.
- Increased usage ：Solana By reducing transaction costs 、 Improve transaction speed , Allow users to use more frequently Web 3.0 Applications .
- New application ：Solana Promote the birth of new applications , Or let the original DAPP Become a mainstream application .
Technology trends are usually expressed in “ cycle ” In the form of ,Solana Yes Web3.0 The impact of cloud computing on the market , And Web2.0 The era has accelerated the innovation of computing platforms used by the whole Internet ：
- Mainframe to personal computer ： In the age of the mainframe , Computers are usually bulky and expensive , It limits the use of computers by academic researchers in some universities . Personal computer （PC） The emergence of the new era has changed this situation ,PC Reduced cost , And open to a new wave of consumers .Solana Relatively lower transaction costs now have a similar impact .
- From local to cloud ： In the era of internal deployment , Institutions must buy 、 Manage servers and other computer infrastructure , To use software functions . The shift to cloud computing alleviates this burden , The solution is to reduce the burden of locally hosted processes , At the same time, improve the flexibility of the application .Solana It has a similar effect today , It provides developers with a powerful enough to run Web3.0 DAPP The platform of , At the same time, the second 2 The complexity of the layer extension solution .
- From desktop to mobile ： In the desktop era , Major applications are usually designed for fixed computing platforms , This kind of computing platform can also host a limited number of applications . The development of mobile technology has brought changes , It provides developers with a real-time computing platform , This has also stimulated the development of new applications （ such as Uber）. Analogous to Solana, It has improved Web3.0 Scalability of Cloud Computing , And provide design for developers DAPP New infrastructure media .
Web 3.0 Cloud computing market for Solana、 For Ethereum and other networks , Is a huge and fast-growing opportunity . Include AWS、 Gu Ge Yun 、Microsoft Azure、 Alibaba cloud and Tencent cloud Web 2.0 Cloud provider , By meeting different types of customer needs, we have achieved success .Web3.0 The cloud market is taking a similar path , Ethereum and Solana Is becoming a leading competitor in this field .
The practical application
Solana The cloud economy has grown rapidly in the past year , The total value of the ecosystem has exceeded 1100 Billion dollars . This ecosystem consists of Solana The Internet （SOL） And digital assets issued on the network ,SOL The community has jurisdiction over it . This includes digital services （ Intelligent contract DAPP）、 Digital dollars （ Dollar supported stable currency ） And so on , as well as Solana Digital goods and art on the Internet （ Such as NFT etc. ）. The following is an overview of the value distribution of these categories ：
- Solana Network（SOL） With 730 Billion dollars accounted for Solana Most of the market value of ecological economy （65%）.
- Solana Digital services on the network （DAPPs） About of the total ecological value 1/3, reach 350 Billion dollars .
- Solana Digital dollars circulating in the economy （ Stable currency ） by 40 Billion dollars , About of the total economy 3%.
- be based on Solana Digital goods and art （NFT） value 10 Billion dollars , About of the total economy 1%.
chart 2：Solana The market value of encryption economy
Solana Successfully established a large and rapidly growing user community . One of the most popular Solana wallet ——Phantom Number of active users per month （MAUs） from 2021 year 8 Of the month 2 Million to this year 10 Of the month 120 ten thousand . take Phantom With the most popular Ethereum wallet Metamask comparison ,Solana The growth rate of users is roughly the same as 2020 year 10 The level of Ethereum is quite .
chart 3：Solana Phantom Wallet and Ethereum Metamask Comparison of monthly active users of wallet
since Solana Since the launch of the network , Developers' interest in it has soared over the past year . The concern of open source developers is a measure of Web3.0 A key indicator of cloud networks , Because it is these builders who created the application ecosystem , Eventually attract users to the corresponding blockchain network . So ,Solana Hacksong continues to attract more and more developers to sign up and submit projects , To promote the dApp Further ecological growth .
chart 4： Hackers sign up （ Left ） And project submission （ Right ）
Solana It is mainly used to develop DAPP Smart contract platform or general encryption cloud platform . since Solana Since the network went online ,Solana In a short time, the community has established a community with more than 500 A large ecosystem with decentralized applications .Solana stay DeFi、Web 3.0 and NFTs In the field of DAPP The project includes ：
- DeFi： Applications include open order book transactions 、 Automation market maker 、 Lending platform 、 Asset management software and payment application .
- Web 3.0：Solana Domain name service 、 Data privacy Web Browser and offline data Oracle .
- NFTs： Use scenarios include NFT Casting platform 、 Trading market 、 game 、 Music streaming 、 Social media and decentralized autonomous organizations （DAO）.
chart 5：Solana Decentralized applications （DAPP） The ecological system
Solana DeFi Total lock up value in the agreement （TVL） It has increased in the past year , On all encrypted items TVL The proportion of the total value is close to 6%. This success is mainly due to the user's understanding of Solana My interest is growing , The number of applications is increasing ,SOL The performance of token prices is strong , And issued in Solana The dollar stability currency of the network （ about 40 The market value of a $billion stable currency ） The number is increasing .
chart 6：Solana Total lock up value （TVL） And the proportion in the total lock value of encryption
Finance is not Solana The only area of growth in the digital economy ——Solana Consumer applications are also emerging . In recent months , Represents digital property （ Such as art 、 Consumer goods or other assets ） Of ownership NFT Applications have also grown .Solana Upper NFT The market value has exceeded 10 Billion dollars .Solana NFT Our monthly sales have risen to about 2.5 Billion dollars , The number of independent buyers has also increased by about... In the past three months 4 times , Reach about 6 10000 addresses .
chart 7：Solana NFT Secondary market sales and number of unique buyers
With users 、 Continued growth in applications and usage ,Solana Internet revenue has increased over the past year .Solana Transaction fees paid by users （ Including transfer 、 Run the smart contract program 、 Issue new assets and vote on proposals related to online consensus ） In this year 11 It will reach 45 Billion dollars , It has increased... Since the beginning of the year 100 More than times .
according to Solana Protocol settings , After exempting half of the transaction fee ,SOL The supply of tokens will be reduced accordingly , And the rest 50% The transaction fee is paid to the network's computing infrastructure provider （ That is to say “ Verifier ”）—— They are subject to the pledge SOL The incentive of tokens . Due to a decrease in handling charges , The handling fee paid to the pledgor plays an incentive role in continuing to hold tokens , These economic characteristics support SOL The basic value model of tokens , And make SOL Tokens become productive assets .
chart 8：Solana Monthly income and monthly annualized income curve
because Solana “ Revenue based supply reduction mechanism ”,SOL The total future supply is unknown . although SOL The total supply of will change due to the fluctuation of network revenue , But the issuing speed of the new token has been written into Solana agreement .
Solana Test network at 2020 year 3 Monthly online , at that time SOL The supply is 5 Billion . stay 2021 year 2 month ,SOL The rate of supply inflation has risen from 0.1% Turn into 8%（ New initial inflation rate ）. After that, according to the setting ,8% The initial inflation rate will be annualized 15% The rate of deflation is decreasing , Until it reaches 1.5% Long term inflation rate . By 2021 year 11 month ,SOL The total circulation of is about 5090 Million pieces , The total inflation rate is about 7.3%（ Estimate ）.
chart 9：SOL The supply schedule of tokens
2017 end of the year ,Solana The founder of Anatoly Yakovenko With the preliminary conception of the project and technical points .Solana Our internal testing network and official white paper were published in 2018 Released early this year .Solana Labs（Solana The development company of ） stay 2018 - 2020 A series of financing was completed during the beginning of the year .Solana The main network test version of the protocol was launched in 2020 year 3 Published in .
chart 10：Solana Financing history of
Solana There are several competitive advantages ：
- The team ：Solana Have a strong core technical team , Members are from Qualcomm 、 Google 、Dropbox And former Apple employees .
- technology ：Solana A novel technical scheme is adopted , It provides high scalability and low transaction cost , This is different from other networks .
- Community ：Solana Have strong and active users 、 developer 、 Industry partners and investor communities .
- The ecological system ：Solana A large and fast-growing DAPP The ecological system , New use cases are also emerging .
meanwhile ,Solana There are also some potential risks （ Competitors from within the encryption industry , And some external factors ）, Include ：
- Competitive networks ： Other blockchain networks with smart contract function , Like Ethereum 、 Coin security smart chain 、DFINITY、Avalanche etc. .
- Economic sustainability and valuation ： Compared with other blockchains such as Ethereum ,Solana The cost income of the network is still relatively low . Unless the number of new applications 、 Network usage or transaction costs are increasing , This leads to an increase in transaction costs , Otherwise, based on the current cash flow value ,Solana The valuation of the network will not be supported .
- The degree of centralization ： If one or a group of entities control SOL A large share of the supply ,Solana The network may become too centralized .Solana May need more “ special ” To participate in network operation , So it can't attract a large number of users , This may hinder the degree of decentralization of the whole network .
- Regulatory uncertainty ：Solana May face scrutiny from various regulators , Regulators often treat digital assets as ” negotiable securities “ To supervise , So far, only bitcoin and Ethereum are exceptions .
- Network security ：Solana Several new technical solutions are used .Solana Of Consensus mechanism The new technology used has not been widely used , And may not work as expected . The encryption part at the bottom of the network may be defective , Thereby affecting Solana The function of the network may make the network more vulnerable . Besides ,Solana If the economic incentive mechanism fails to play its expected role , It will also make the network unsafe or ineffective .
image Solana Such an encrypted network is the platform of the next generation network and cloud wave .Web3.0 Decentralized applications offer new benefits , Consumer demand for them is also growing . However , At present, many leading blockchain cloud computing platforms are slow to use 、 The high cost , Or need additional and complex extension solutions . This situation limits the large-scale adoption of many applications in the encryption economy .
Solana Adopted a unique technical scheme , Through an optimized “ compromise ” programme , take “ High scalability ” Prioritize , Give Way Solana Transactions on the Internet are faster than many other networks 、 Cheaper .
Solana It has obtained a large and rapidly growing active user community 、 Developer community and DAPP The ecological system , These are the factors supporting its rapid growth .Web 2.0 The cloud computing market is an annual revenue 3500 $and 4.6 Trillion dollar market value opportunity ,Solana Has positioned itself as the leading Web 3.0 Challenger , And began to capture market share .
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