Although this figure is supported by a testnet rather than real-world implementation, even at-scale speeds of 50% of Solana’s testnet capacity would be a groundbreaking achievement for the blockchain space. Solana’s built-in mechanism for synchronizing time across nodes helps the network support a theoretical peak capacity of 65,000 transactions per second, currently. Solana’s efforts to boost transaction speed rely on a semi-centralized structure in which a node leader is elected and all nodes agree to adopt one universal source of time. This synchronization allows the network to optimize for speed, and as a result, the Solana blockchain is inherently fast and engineered for native scalability - enabling higher energy efficiency and higher security through the low processing power and the tamper-resistant nature of its synchronized timestamps. When all the respective clocks across the decentralized network are synchronized, transactions take much less time to verify because individual nodes do not have to dedicate so much processing power toward verifying various timestamps. To ensure that transactions have not been manipulated and that funds are spent only once, a lot of time and processing power needs to be dedicated to verifying timestamp accuracy in a PoW or PoS system. The inherent discrepancies between local system clocks (even those from nodes acting in good faith) ultimately pave a path for attacks where bad actors can try to take over a cryptocurrency network using fake transaction broadcasts that closely approximate real timestamps - for example, “fake stake” (or “resource exhaustion”) attacks in the case of PoS, and Denial-of-Service (DoS) attacks in the case of PoW. Then, when other nodes verify the transactions, messages about their confirmation or rejection are also timestamped. When transactions occur, they are timestamped according to their local system clock. The timestamp synchronization problem is inherent in both Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus mechanisms. This becomes problematic when the decentralized network needs to reach consensus about which transactions have taken place and the order in which they occurred. With thousands of nodes all over the world, there are bound to be slight discrepancies with local system clocks. Each computer (or node ) processing transactions on a decentralized blockchain network has its own internal clock on which it operates. With a high volume of transactions occurring every second, time becomes a crucial element for efficiency. When we talk about scalability and throughput, we’re referring to how many transactions can take place per second (this capability is called transactions per second (TPS)). These networks are faced with the challenge of providing ample transaction speed as their user count and transaction volume continues to increase, while still preserving the security and decentralization of the network. Blockchain ledgers and decentralized payment networks provide decentralized security to users - but usually, the more decentralized security they provide, the longer it can take for new transactions to be verified and added to the blockchain. The scalability problem has plagued many cryptocurrencies since almost day one. Native Scalability of the Solana Blockchain
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