Hire Solana Blockchain Developers | Solana Blockchain Development Company
Solana is a blockchain platform for tokenization, smart contracts, and decentralized application development. It has a super high transaction processing speed and low fees, making it an excellent choice for launching blockchain solutions of any complexity. This article will tell you about other Solana’s benefits and how to find an experienced developer to implement your ideas on this blockchain.
Anatoly Yakovenko, Greg Fitzgerald, and Erik Williams founded Solana in 2017. They are programmers who used to work for Qualcomm. They created an original Proof-of-History (PoH) algorithm for blockchain synchronization. It solves significant blockchains like Bitcoin and Ethereum, namely, low speed and high fees.
Proof-of-history is not just another consensus mechanism. It is a remarkable and original protocol for Solana that provides a way to verify the passage of time between two events on the Solana blockchain. Proof-of-history does not require complex computing calculations like Bitcoin and Ethereum algorithms. Hence, nodes can approve the transactions much faster, significantly increasing bandwidth.
But decentralized timing, Solana employs other seven innovations to speed up the transactions and increase the scaling potential:
Smart contracts. Thanks to the Sealevel protocol, smart contracts on the Solana blockchain function much faster than on Ethereum or other blockchains. Furthermore, Solana developed particular compilers to transfer intelligent contracts from Ethereum to Solana with minimum effort.
Non-fungible tokens (NFT). Also, one can employ Solana to mint NFTs. That’s cheaper on Solana than on other blockchains. For example, minting NFTs on Ethereum costs $50-100, while Solana does the same for a few dollars.
Decentralized finances. Various decentralized financial services are a modern trend since they provide straightforward and cost-effective access to traditional financial services: loans, insurance, and investment. Solana helps to make these applications even more economical, secure, and reliable.
Corporate solutions. It is an excellent decision to employ Solana and launch various business solutions within a company or several companies. For instance, Solana offers opportunities to develop electronic medical records, ERM systems, or online banks.
Other applications. But for the solutions mentioned above, the Solana blockchain can be employed for various situations, from cryptocurrency exchanges and investment platforms to video games and NFT marketplaces.
Solana is 4000 times faster. In testing the Solana bandwidth, the network showed that now it can process around 65 000 transactions per second (TPS). It is the default speed. They achieved 190 000 TPS at the peak load, an incredible result, yet still not the maximum. Solana’s team promises to increase the network’s bandwidth to 700 000 TPS quickly. For example, Bitcoin processes 7 TPS, Ethereum — 16.5 TPS. Solana is 9 000 times faster than Bitcoin and 4000 times faster than the leading competitor — Ethereum.
The results of Solana’s bandwidth test. Source.
Solana is simpler to program. Solana blockchain functions on Rust programming language, one of the most popular in the world. It means that it would be easy to find an experienced developer for your solutions on Solana. Moreover, Solana’s team developed a specific LLVM protocol that allows transferring your blockchain solutions from WASM networks (Dfinity, EOS, Polkadot, Ethereum 2.0) to Solana.
Rust vs. Solidity comparison on GitHub
Solana has no issues with mempool. In the cryptocurrency and blockchain world, mempool is a place for unconfirmed or pending transactions which every node keeps. In general, Solana has no mempool since the operations are approved within 400 ms. On Ethereum, it takes from 4 minutes (usually more). When there are more transactions than the network can process, they are stuck in the mempool, which slows down the speed and increases the fees.
Solana’s ecosystem is scaling rapidly. Sure, most tokens, smart contracts, DApps, and NFT are launched on Ethereum now. However, they have many issues: working speed, fees, and scaling. Solana has no similar problems, and more developers have begun to choose it to launch their projects.
In these terms, Solana blockchain is super cost-effective since the Turbine protocol splits each new block on little data packets and then transfers it to a group of computers that shares it to another group, and the action repeats on and on. Solana thus reduces bandwidth usage, decreases transaction processing time, and makes the entire network more economical and resilient to failure.
Solana is a more environment-friendly ecosystem. Bitcoin and Ethereum blockchains still use the outdated consensus mechanism — Proof-of-Work. It requires high computing powers to generate new blocks. As a result, it leads to high electricity consumption. For example, Ethereum uses 95.5 TW of electricity, more than Belgium and Israel do together (CO2 emits equally). Solana rejected the Proof of Work and uses Proof of Stake, which is 100 times more energy efficient; hence 100 times more environmentally friendly.
Outsourcing is an immense world with no boundaries. You can choose a Solana blockchain developer located in any part of the world. Consider the requirements of your business, affordable prices, cooperation conditions, and just google it. In a few minutes, you will have loads of websites of software suppliers with different experiences, fees, and offers.
However, if you need an actual professional and experienced blockchain developer, this method will not be helpful. You will not have any criteria for selecting the developer but for their words and promises. Sure thing, they will all tell you that they are professionally experienced, and their price is the best on the market.
To do an efficient search, focus on specialized resources. There are three groups of these resources:
Following this simple algorithm while selecting a Solana developer saves time and avoids meeting these troubles. Please, pay attention to these factors at each step of the search.
Solana blockchain solution development requires extensive experience, especially for financial projects. Your time must understand the peculiarities and specifics of the blockchain, but for simply knowing how to code. No one says that all developers in your team should have a master’s degree in finances, yet the team lead and the lead engineer should have experience in the sector you require, whether it is DeFi, NFT, GameDev, DAO, or Healthcare.
The easiest way to estimate the expertise of your candidate is to study their former projects. For instance, if you look for a developer to launch a cryptocurrency exchange or a logistics platform to trace goods in supply chains, search for similar projects in their portfolio.
If you choose a team to launch a blockchain solution, study their portfolio thoroughly. Suppose there is an opportunity to install those applications (visit the websites) and experience them yourself.
Hacks, data leaks, and money theft — are the main issues in the blockchain and crypto world. Hence, security is the top priority for any crypto startup. If you want to avoid these problems, then select a blockchain developer with an excellent level of expertise. Their expertise must be proved in practice. Check whether the product developed by them was hacked, or whether there were data leaks, etc.
Check whether the company has a required pool of engineers or other IT specialists that will cover all the necessary tasks. However, remember that the crew members might change on various stages, so the selected company should call the required professional to work right away.
Even if you are skeptical, i.e., don’t trust the feedback, since they might be fake and ordered, it is still better to study what clients say of a particular candidate. The best way to receive feedback is to determine how the company communicates with clients and their cooperation. These feedbacks are often found on Clutch or GoodFirms, or you might appeal to the representatives of the required companies on LinkedIn.
Frequently the technical partner is selected based on their site. Hiring a developer from the USA or West Europe is 2-3 times more expensive than hiring professionals from Eastern Europe. They charge less for their services, yet the quality is pretty much the same. According to the Skill Value report, the TOP-5 countries with world-class developers are Slovakia, Mexico, Poland, Hungary, and Ukraine. These countries have the best quality-price offer.
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Coinbird/CEX - cryptocurrency exchange with high-level security and safety. Furthermore, it supports operations with fiat currencies. Study the case.
AltcoinsHub - it is a P2P exchange that helps to trade all popular cryptocurrencies.
If you plan to launch your blockchain solution on Solana yet do not know where to start, please contact our consultants via +1-206-785-16-88 or firstname.lastname@example.org. They will share the details on the advantages and disadvantages of Solana. Moreover, they will gladly answer all your questions.