Why is this a problem? Without a standardized clock, transaction timestamps will vary for each block and the time of confirmation is yet another #factor that all nodes must validate. The more factors a node has to #validate, the slower the transaction time.

Yakovenko #believed that while other #blockchains are efficient or at least working toward efficiency, many of them fail to factor in time. Instead of every block relying on a standardized clock, each block runs on the local time of their relevant node.

Solana was founded in 2017 by Anatoly Yakovenko, a software engineer with a background at Dropbox and other big tech companies.

#background #founded

Solana (SOL) Pay is #considered by many to be the #next innovation in the payments processing arena, facilitating payments while taking nonfungible tokens (NFTs) and Web3 into account. Some are going so far as to call Solana’s new payment protocol the Visa or PayPal of Web3.