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 | https://faucet.solana.com/ |
| Figment’s Public Validator Address | Validator Identity Address: Fd7btgySsrjuo25CJCj7oE7VPMyezDhnx7pZkj2v69Nk Validator Vote Key Address: CcaHc2L43ZWjwCHART3oZoJvHLAe9hzT2DJNUpBzoTN1 Ledger by Figment: 26pV97Ce83ZQ6Kz9XT4td8tdoUFPTng8Fb8gPyc53dJx |
| Figment Staking Guide | HERE |
| Figment Supported MEV Relay | Jito |
| Recommended Wallet(s) | Ledger, SolFlare |
| CoinGecko Profile | https://www.coingecko.com/en/coins/solana |
Updated 5 days ago
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