Solana, the fourth largest cryptocurrency by market cap, is a lightning-fast and cost-effective blockchain network that has positioned itself as a strong competitor to Ethereum. Recent on-chain metrics reflect Solana’s increasing influence and competitive stance. However, Solana faces challenges, including centralization concerns, an inflationary token model, and past network instability. The Firedancer protocol aims to address centralization concerns by introducing a second validator client and supporting sharding to enhance scalability.
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