In August Solana announced the partnership with Coinbase Custody. Now USDT is launched on its blockchain. According to the statements of the company’s developers the blockchain is faster and cheaper than Ethereum, which is an acute issue now.
Solana has designed Proof of History that verifies order of events and of the passage of time between them. The platform also employs PoW or PoS algorithm.
Now users can exchange their stablecoins at a speed more than 50k transactions per second. Compare it with Ethereum that is capable of processing approximately 15 transactions per second. Let us compare the cost as well: $2.65 per transaction. There are no definite figures but FTX CEO called it awesome and announced that it 10 thousand times faster and a million times cheaper.
It’s worth reminding that FTX launched a decentralized exchange (DEX) built on the Solana blockchain.
According to the words of Solana’s creator, the blockchain was designed for supporting transactions on Nasdaq speed.