Crypto Academy S4~ week 4 Solana Blockchain | Homework task for professor @pelon53
HELLO STEEMIT members, I hope you all are fine and doing well, so this is my homework given by the honorable professor @pelon53 , First of all, thank you so much, professor.
Crypto academy professors are doing their utmost to help steemit users learn about a variety of topics by sharing their expertise and information in order to help them make better use of this environment and helping us to not only learn but also enhance our skills here.
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Question 01: - Explain in detail the PoH of Solana.
WHAT SOLANA IS:
Solana is a single layer cryptocurrency with a large transaction rate that is substantially different from other blockchain solutions. It is one of the most recently used single - layered blockchains with a high volume of transactions. Solana contributes to the ecology as a whole. Solana accepts decentralized applications, which implies that programmers can build decentralised programs on front of it, such as a decentralised exchange.
PROOF OF HISTORY OF SOLANA:
Now lets understand proof of history, Proof of history is extremely useful in making a blockchain's job simple, Proof of history is based on a unique hashing algorithm that assigns a different and unique hash to each transaction and event. So basically Solana use a process known as proof of history. Users can utilise proof of history to produce written records that demonstrate and show an event took place at a given point. The method is a verifiable large delay function. For blockchains, proof of history works like a timer. In proof of history, a particular sort of record which is utilised in which forthcoming happenings are stored and given a special kind of hash value and so that when they emerge from the special record, their code and count can be constructed correctly.
These hashes are then sent on to the following transaction as data. Then, to save time on having to revalidate each hash function individually, these entries are time-stamped to capture their real sequence.
Ques 02:- Explain at least 2 cases of use of Solana.
Altough Solana uses multiple cases but now here we will dicsuss these two which are very popular.
MANGO MARKET:
One of the most important and popular case or project is Mango market, this isa plateform which mainly focuses on the trading and margin trading related things and also not only this they provides more than 5x leverage which is very large and also when when other D5 protocols only provide approximately 2x, and their perpetual contracts initially provide even more leverage, up to 10x. Because derivatives are what make centralised exchanges like BitMEX is tonne of money, the mango market is focusing on a very lucrative area. As a result, mango's goal of building products for the decentralised world might potentially help them create a lot of money.
RAY:
RAY token which is also known as Radium ranked 112 in the coin market cap due to its freshne. The RAY coin is now priced at $9.79$. The token is currently circulating in the market with a 24-hour supply of 71,197,338.67 RAY. Ray token has a 24 hour high of $ten dollar and a 24 hour low of nine dollar, indicating that it has been extremely volatile in the previous 24 hours.
Raydium has built-in stop losses, which is extremely helpful. IlIke a person who have used uni swap and some other exchange like it will surely know that you have to pretty much take the price that the pool offers you; unlike coinbase, you can't make a limit order.
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Ques 03: Detail and explain the SOLA token.
Now lets talk about Sola token, Sola has a very positive image in the market.
From the beginning of the year 2021, the value of the Sol token has increased dramatically, rising from 1.8$ to 170$ in just some few months. The Defi infrastructure is used to operate the SOLA token. Many other features were incorporated with the SOLA token by the Solana Market Participants. The key benefit is that if you own a SOLA token, you can engage in administration actions.
OTHER DETAILS OF SOLA TOKEN:
Solana token is market value of approximately $42,611,544,645 and also its all time high is near 150 dollars which is a large volume and also not only this but it has a fantastic 24-hour supply of roughly 297,704,023.82 SOL with adiluted Valuationof $1,685,661 and circulating supply of $27,153,077.
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Ques 04: When did Solana Blockchain see its operations interrupted? Why? Explain.
SOLANA BLOCKCHAIN'S OPERATIONS INTERUPTED:
From begining of this yea solana blockchain began to grow, and its token SOL began to reach the top in recent times, but issue started with this month of september when the sol token price was moving up very quickly, an interruption or crash occurred when one sol token became equal to 170 Dollars, and people began buying more and more. The issue arose as a result of a large increase in transaction load, which peaked at approximately 400,000 operations per second and 65,000 operations per second. The problem emerged as a result of a significant rise in transaction load, which peaked at around 400,000 and 65,000 operations per second.
Ques 05: 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.
So, i accessed https://solscan.io website to check last generated blocks of Solana and at this time six blocks were generated as you can aalso see in the below screenshot attched.
Below attached is my initial and current block difference
CALCULATION:
If 6 blocks are generated within 9s so we should divide 6/9 and which is equal to 0.6666
so 0.666 blocks are created in single second.
Then (8/4) = 2 blocks are generated in 1s and 1 block is generated in 0.5s.
CONCLUSION:
Professor @pelon53 , Thank you so much for this wonderful and informative lecture. In this lecture, we discussed about Solana blockhain and SOLA token, Solana is a single layer cryptocurrency with a large transaction rate that is substantially different from other blockchain solutions and also Solana token is market value of approximately $42,611,544,645 and also its all time high is near 150 dollars which is a large volume and also not only this but it has a fantastic 24-hour supply of roughly 297,704,023.82 SOL with adiluted Valuationof $1,685,661 and circulating supply of $27,153,077.
That's all, This is my homework professor @pelon53 I hope you like it, and once again professor thank you so much for this informative lecture, This post is totally plag free.
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