What transactions are used in Solana chain?

Solana chain transaction method: Create transaction messages and sign to verify validity. Broadcast transaction messages to the peer network for verification. The validator uses the Proof-of-History mechanism to verify transaction timing and signatures. Valid transactions are added to the block, final and irrevocable. Transactions require a fee, which depends on transaction complexity and network congestion.

How Solana Chain Transacts

Solana is a high-performance blockchain platform designed to handle large volumes of transactions. Unlike other blockchains, Solana uses a consensus mechanism called Proof-of-History (PoH), which allows transactions to be verified quickly, thereby increasing throughput.

The transaction method of Solana chain is as follows:

1. Create a transaction:

To create a transaction, users need to use Solana A software development kit (SDK) or wallet to create transaction messages. Transaction messages contain details about the transaction, such as sender, receiver, amount, and transaction type.

2. Signed transaction:

After creating a transaction message, it needs to be signed to prove its validity. Signing is done using a private key, which is stored in the user's wallet. Signatures ensure that transactions cannot be forged or tampered with.

3. Broadcast transaction:

The signed transaction message is then broadcast to the Solana network. This is done by sending transaction messages to a peer-to-peer network called Gossip, which propagates the transaction messages to other nodes for verification.

4. Verify transaction:

The transaction message is received and verified by the verifier node in the network. Validators use the PoH mechanism to verify the timing of transactions and ensure that transactions are submitted in the correct order. Validators also check transaction signatures and other parameters to ensure the transaction is valid.

5. Complete the transaction:

If the transaction is valid, it will be included in the block and added to the Solana blockchain. Once a transaction is added to the blockchain, it is considered final and cannot be reversed.

Note:

• There is a small fee (called a handling fee) for transactions on the Solana chain. Fees vary based on transaction complexity and network congestion.
• Solana Chain supports a variety of digital currencies, including SOL, USDC, and BTC.
• There are a variety of wallets and exchanges available that can be used to trade on the Solana chain.

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