Solana is a functional open-source platform that offers a new and high-speed layer-1 blockchain. It was launched in 2017 by Anatoly Yakovenko, Stephen Akridge, and Greg Fitzgerald to optimize scalability and speed for DApps and blockchain projects, while keeping a low-cost profile.
Solana utilizes an innovative hybrid consensus version that combines a lightning-fast synchronization engine with a unique proof-of-history (PoH) consensus system. As a result, the Solana platform can easily process about 710,000 transactions per second (TPS) without any scaling error.
Solana is arguably the largest threat to Ethereum's dominance and other leading blockchains such as Cordano, as it's able to execute NFT trading without the common errors associated with bigger blockchain protocols such as low market cap, huge conversion costs, and higher transaction fees.
What's most unique about Solana is its ambitious design objective that aims to solve the blockchain trilemma (i.e., a concept proposed by Ethereum). This trilemma examines three significant challenges: decentralization, scalability, and security that developers face when creating blockchains.
Before we go into the different NFT projects in the Solana ecosystem, let's talk about essential ways to buy NFTs on Solanart, a Solana NFT marketplace.