Solana public chain: why it can shine among many public chains

特邀专栏作者

2021-09-28 13:43

This article is about 3041 words, reading the full article takes about 5 minutes

The Solana public chain has exploded after experiencing a large number of R&D personnel's technical investment, investors' optimism, and the ecosystem gradually becoming more perfect, showing its brilliance

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By: Footprint Analyst Bella@Footprint.network

Date: September 2021

Everyone may be familiar with Solana. With its rich and diverse ecosystem, it has attracted more and more project parties and users. If any public chain performed outstandingly in August, Solana must occupy a place. First, the price of SOL, the token of the public chain, broke through $112, up 208.9% from the beginning of the month. It continued to rise in September, and its market value is temporarily listed on the public chain The third place; second, Audius, a decentralized streaming service launched on the Solana chain, has established a partnership with TikTok. This cooperation model has attracted a large number of users for the project and even the chain. The emergence of many good news makes Solana more and more attractive, and gradually reveals its role in the public chain. Let's analyze from multiple perspectives why Solana can shine in many public chains.

Data source: Footprint Analytics

Gradually form a more complete ecological system

Different from other public chains, Solana's development strategy is to first improve the technical level and consolidate the infrastructure, and then carry out the improvement and development of the ecology.

Therefore, Solana attracts engineers with strong technical backgrounds such as Qualcomm and Intel to provide it with strong technical talent support; through eight major innovations such as Haiping (parallel smart contracts), Yunsan (horizontally expanding account database), and archives (distributed ledger storage) Technology alleviates the triangular problems that are impossible to achieve in the blockchain, namely: security, scalability, and decentralization; through activities that combine foundations and hackathons, dig out valuable and potential projects to make them stand out in the ecosystem retain.

With the explosion of ecology, the ecological system of the chain has changed from the original few to dabbled in various tracks, and gradually formed 24 major fields such as DeFi, Tools, Infrastructure, NFT, Games, Wallets, DApp, and Developer tools332 A powerful system composed of several projects, the ecological system gradually tends to be perfect.

Low transaction fees and efficient transaction speed

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TVL ranking of different public chains, data source: Footprint Analytics

Solana's lockup volume (TVL) has developed rapidly within 3 months, ranking fifth among public chains

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TVL changes of various categories of Solana public chain, data source: Footprint Analytics

Dex platforms have become outstanding contributors to the TVL of the Solana chain, and various types of DeFi applications are blooming

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TVL changes of Solana public chain Dex platform, data source: Footprint Analytics

Raydium has become the leader of the Solana chain Dex platform, Saber's growth rate is as high as 425%

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The top ten Dex platforms ranked by TVL change in different public chains, data source: Footprint Analytics

Raydium of the Solana chain has broken into the top ten of the Dex platform, ranking ninth

Summarize

The Solana public chain exploded and showed its brilliance after a large number of R&D personnel invested in technology, investors were optimistic, and the ecosystem gradually became more perfect. The Footprint analysis team presents the multi-angle data of the Solana public chain on the Solana Dashboard, so that readers can pay attention to the development of the public chain together; at the same time, the Footprint team also analyzed the current situation in the article "Footprint: The battle for the public chain broke out, and Avalanche is ready to go". The overall public chain of the blockchain has a more comprehensive analysis. With the continuous development of the encryption industry, we have reason to believe that with its distinctive innovative technology, it will continue to support the major DeFi applications that rely on this public chain and continue to shine.

About Footprint Analytics

About Footprint Analytics

Footprint Analytics is a one-stop visual blockchain data analysis platform.

Footprint Analytics puts user experience first, and it provides an intuitive and concise user interface, which can query and visualize data analysis through drag-and-drop data interaction. Whether you are a data analyst, data scientist, developer, student, teacher, manager or project party, you can easily use this powerful data analysis tool to meet your needs.

Footprint Analytics website: https://www.Footprint.network/

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