Solana is building blockchain architecture based on a proof of history a proof to validate the order and timing between events. The intent of PoH is to encode the untrusted passage of time in the ledger. The proof of stake consensus mechanism is then used to validate the actual sequence established by the proof of history generator.
Top Solana Ecosystem Coins
1.The Graph (GRT)
The Graph is an indexing protocol and global API that aims to organize blockchain data while making it easily accessible via GraphQL. Developers can use Graph Explorer to search, find and publish all the public data they need to create decentralized applications.
2. Audius (AUDIO)
AUDIO is the native platform token of the Audius streaming protocol. Audius’ missions are to create a fully decentralized community of artists, developers and listeners working cooperatively to share and defend the world’s music.
3. Waves (WAVES)
Waves is an open blockchain protocol and development toolkit for Web 3.0 apps and decentralized solutions that aim to increase the security, reliability and speed of IT systems. It allows anybody to create their own applications, thus encouraging the mass adoption of blockchain.
4. REN (REN)
The Ren protocol is a permissionless and Trustless protocol that lets users transfer tokens throughout different blockchains. Ren’s main product, RenVM, focuses on building an interoperability solution for decentralized finance (DeFi).
5. Coin98 (C98)
Coin98 is a complete DeFi platform that aims to meet untapped industry demand and become the gateway that bridges TradFi users to any DeFi service on multiple blockchains. It accomplishes this mission through a complete suite of products.
6. Raydium (RAY)
Raydium is an automatic market maker (AMM) and liquidity service provider built on the Solana blockchain for the decentralized exchange Serum (DEX). As an AMM, Raydium has first-mover advantage on Serum and will be an important part of introducing new and existing projects and protocols to the ecosystem.
7. Serum (SRM)
Serum is a decentralized exchange platform (DEX) based on the Solana blockchain platform, designed to deliver high transaction speed and reduced transaction costs. Because of the popularity of DeFi and the rise of DEXs in the Ethereum space, there have been cases of high cost gas and slow transactions. Serum is built to ensure that DeFi can provide a competitive edge against centralized services.
8. Kin (KIN)
Kin is the money for the new digital world. It is an an open microtransaction platform used by the millions of users in over 50 consumer apps and services, making Kin the most commonly used cryptocurrency among everyday consumers. Kin can be transferred anywhere in the world, immediately and for free.