Solana
Specifications | Details |
|---|---|
Platform (underlying architecture) | Layer 1 |
Consensus Algorithm | Proof-of-Stake (Proof-of-History) |
Ecosystem | Solana |
Token | SOL |
Native Token Ticker | $SOL |
Smallest Unit | Lamports (1 SOL = 10^9 Lamports) |
ARR or APY | ~7% |
Max Supply | ∞ |
Delegation Requirements (Min-Max) | Minimum - 0.01 SOL Maximum - No Limit |
Stake Activation Period | 1 epoch (2-3 days) |
Reward Distribution Period | Every epoch (2-3 days) |
Compounding | Automatic |
Compounding Frequency | Every epoch (2-3 days) |
Unbonding Period | 1 epoch (2-3 days) |
Lockup Period | No lockup period |
Penalties and Slashing | On Solana, slashing isn't automatic but occurs upon network restart if an attacker halts the network. |
Burn Mechanism | A fixed proportion (initially 50%) of each transaction fee is burned. The remainder goes to the current leaderwho is processing the transaction |
Validator Self-Bond Requirement | No self-bond required, but validating blocks may incur a 1.1 SOL daily fee. Validators should adjust their staking amount accordingly |
Inflation | Solana's initial inflation rate is 8% annually, decreasing by 15% year-over-year, reaching a long-term fixed inflation rate of 1.5% annually |
Validator Set Diversity | No set limit. Solana has a nakamoto coefficient of 27, proving to be one of the most diverse chains in terms of token validation and thus minimizing validator collusion |
Governance Mechanism | No on-chain & off-chain governance. Core development team is the final decision maker |
Smart Contract Support | Yes |
Smart Contract Programming Language | Rust |
Cross-chain Compatibility (Interoperability) | Yes |
TPS (Transaction Throughput) | ~3000 TPS (as per the whitepaper 710K TPS max) |
Transaction Finality | ~0.4 seconds |
Link to Explorer(s) | https://explorer.solana.com/ , https://solscan.io/, https://solana.fm/ |
Testnet Faucet | |
Figment’s Public Validator Address | Validator Identity Address: Fd7btgySsrjuo25CJCj7oE7VPMyezDhnx7pZkj2v69Nk Validator Vote Key Address: CcaHc2L43ZWjwCHART3oZoJvHLAe9hzT2DJNUpBzoTN1 Ledger by Figment: 26pV97Ce83ZQ6Kz9XT4td8tdoUFPTng8Fb8gPyc53dJx |
Figment Staking Guide | |
Figment Supported MEV Relay | |
Recommended Wallet(s) | Ledger, SolFlare |
CoinGecko Profile |
Updated 3 days ago