{"id":2276,"date":"2021-12-08T14:24:05","date_gmt":"2021-12-08T11:24:05","guid":{"rendered":"https:\/\/evercodelab.com\/blog\/?p=2276"},"modified":"2022-07-27T11:44:03","modified_gmt":"2022-07-27T08:44:03","slug":"solana-tokens-available-evercode-lab-wl-wallet","status":"publish","type":"post","link":"https:\/\/evercodelab.com\/blog\/solana-tokens-available-evercode-lab-wl-wallet\/","title":{"rendered":"Solana Tokens available Evercode Lab&#8217;s WL Wallet"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Can Solana solve the most pressing issues faced by the web3 industry nowadays? Who knows&#8230;. However, we at Evercode Lab do believe this crypto asset deserves to be highlighted. That is why we would like to post an overview of this blockchain project we believe to be extremely helpful and promising in terms of the scalability issues, together with <\/span><a href=\"https:\/\/evercodelab.com\/blog\/en\/blockchain-polkadot-and-evercode-lab-white-label-wallet\"><span style=\"font-weight: 400;\">Polkadot<\/span><\/a><\/p>\n<h2><strong>dApps Matter\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">We have already discussed the phenomenon of dApps, i.e. decentralized apps that are capable of running autonomously and independently, without a single service provider. This is their main distinctive feature and competitive advantage: unlike the apps we are all accustomed to, their P2P blockchain-based front-end parts are stored in a <\/span><a href=\"https:\/\/www.researchgate.net\/publication\/340625654_Blockchain-based_decentralized_storage_networks_A_survey\"><span style=\"font-weight: 400;\">decentralized fashion<\/span><\/a><span style=\"font-weight: 400;\">. As an outcome, dApps are both open-source and independent.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the light of the ongoing web 3.0, today\u2019s s dApp industry looks this way:\u00a0<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">As of now, one can find almost 4000 decentralized applications in existane available<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Concerning the the number of active users, there are as many as 257.82k of them ( 1 million daily transactions)<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Today, their average 24-hour volume, in dollars, is $272.79 million<\/span><\/li>\n<li><span style=\"font-weight: 400;\">There are almost 4000 decentralized dApps available <\/span><\/li>\n<li><span style=\"font-weight: 400;\">As for the number of active users, it is now 257.82k with over 1 million daily transactions<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The current 24-hour volume in USD is 272.79m<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Thus, it is not an exaggeration to say that dApps are already an important factor in the next-gen digital economy. However, there is a problem here as well. It is all about blockchain scalability.\u00a0<\/span><\/p>\n<h2><b>Ethereum: Limitations and Solana\u2019s Answer <\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Once again, dApps, as a segment, have evolved rapidly. The problem with this growth is that the overwhelming majority of those DApps are \u201cfueled\u201d by Ethereum. While this blockchain is capable of processing a lot of transactions, it is struggling to keep up with the pressure. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">It is no surprise, as today, for example, ETH accounts for almost 3000 dApps with 90.09k active users and 208.6k daily transactions. Thus, this blockchain is literally \u201coverloaded\u201d, while transaction fees are skyrocketing. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">The Solana project, initially launched in 2017, was envisioned as an open-source blockchain initiative to leverage a range of disruptive technologies to handle this dApp-related channel. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">As such, it seeks to constitute a highly scalable yet secure and decentralized platform to support countless nodes with no need to compromise its \u201cbandwidth.\u201d\u00a0<\/span><\/p>\n<h2><b>What Solana Is All About: Proof of History<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">First of all, it is noteworthy that Solana is a Proof of Stake network. However, nowadays it takes more than that to be a breakthrough technology. So, one of its key differentiators is the following fact: its PoS consensus system is backed by the \u201cTower Consensus.\u201d Technically speaking, it is Solana\u2019s implementation of PBFT aka \u201cPractical Byzantine Fault Tolerance.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Solana&#8217;s version of PBFT creates a global source of time-related data on its blockchain via the Proof of History (PoH) protocol. In a nutshell, it enables the Solana network to keep an all-embracing record of all the events that have occurred within the network.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hence, the Tower Consensus can use this synchronizing \u201cclock\u201d to minimize the processing power needed to validate various transactions. As an outcome, significant resources can be saved, as there is no more need to analyze the timestamps of previous events. Owing to that, Solana is in the right position to outdo and outperform most competing blockchains.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to the Proof of History and Tower Consensus, Solana is known for a range of innovations that enhance its scalability, speed, and productivity even further. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Among them:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Solana\u2019s <\/span><a href=\"https:\/\/medium.com\/solana-labs\/tower-bft-solanas-high-performance-implementation-of-pbft-464725911e79\"><span style=\"font-weight: 400;\">Turbine<\/span><\/a><span style=\"font-weight: 400;\"> block propagation protocol that resembles BitTorrent and makes it possible to resolve the scalability trilemma\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Its <\/span><a href=\"https:\/\/medium.com\/solana-labs\/gulf-stream-solanas-mempool-less-transaction-forwarding-protocol-d342e72186ad\"><span style=\"font-weight: 400;\">Gulf Stream<\/span><\/a><span style=\"font-weight: 400;\"> transaction forwarding protocol that does not have to use a mempool owing to the fact that the needed validators are defined in advance<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Solana\u2019s runtime to process multiple parallel smart contracts aka \u201c<\/span><a href=\"https:\/\/medium.com\/solana-labs\/sealevel-parallel-processing-thousands-of-smart-contracts-d814b378192\"><span style=\"font-weight: 400;\">Sealevel<\/span><\/a><span style=\"font-weight: 400;\">\u201d\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">And more\u00a0<\/span><\/li>\n<\/ul>\n<h2><b>SOL Tokens<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">In line with many other smart contract projects, Solana offers its own token, SOL. This asset is used to support all transactions and operations within this environment. It can also be <\/span><a href=\"https:\/\/evercodelab.com\/blog\/en\/what-does-staking-in-crypto-mean-implications-for-evercodes-customers\/\"><span style=\"font-weight: 400;\">staked<\/span><\/a><span style=\"font-weight: 400;\"> and is intended to be used to \u201cgovern\u201d the network.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While this asset is still quite young, it already belongs to the <\/span><a href=\"https:\/\/www.coingecko.com\/ru\"><span style=\"font-weight: 400;\">TOP-5<\/span><\/a><span style=\"font-weight: 400;\">, after only BTC, ETH, Binance Coin, and Tether.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a company determined to be able to offer a state-of-the-art White Label Crypto Wallet to our customers, we made sure that the <\/span><a href=\"https:\/\/evercodelab.com\/products\/everchain-wallet\/\"><span style=\"font-weight: 400;\">Evercode WL solution<\/span><\/a><span style=\"font-weight: 400;\"> features SOL among other 300 available crypto coins.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Feel free to contact us to discuss the Lite version of it with three assets included or the Medium version with 10. Needless to say, custom-built wallets are also available!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Can Solana solve the most pressing issues faced by the web3 industry nowadays? Who knows&#8230;. However, we at Evercode Lab do believe this crypto asset&#8230;<\/p>\n","protected":false},"author":1,"featured_media":2294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71],"tags":[85,79],"class_list":["post-2276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-blockchain-en","tag-crypto"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solana Tokens available Evercode Lab&#039;s WL Wallet &#8211; Evercode Lab Blog<\/title>\n<meta name=\"description\" content=\"Evercode White Label solution features SOL among other 300 available crypto coins.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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