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Because Solana developer has developed it to make it simpler to establish decentralized apps that are more effective, the majority of individuals today opt to have their platform built on Solana rather than on any other platform. Using Solana for the production of smart contracts comes with a number of benefits, one of which is the fact that the programming language used by Solana is more difficult than the languages used by other blockchains. This makes Solana more secure. Hackers have a far greater uphill battle when attempting to change Solana projects since Rust is not an easy language to learn.
In this somewhat technical article, we will discuss Solana smart contracts development. So we would love to have you sit back and read even though you have never heard of smart contracts before in your life. For a bit of background about how it all started, Anatoly Yakovenko introduced Solana in 2017. He developed the platform with a view to eliminating scalability issues in existing blockchains. The result of his solutions was Solana which became really revolutionary. One of the first differentiating factors for Solana was that, unlike other blockchain networks, Solana smart contract can process 71,0000 transactions per second if the transaction averages no more than 176 bytes. The platform quickly emerged as a fast-growing ecosystem global ecosystem with great capabilities and many innovative features.
Solana is architecturally designed to grow and strengthen decentralized applications, critical to establishing a decentralized financial system. With over 400 projects in Web 3.0, DeFi, NFTs, and more, Solana steals a spot as some of the fastest-growing blockchain and ecosystems in the cryptocurrency space.
Solana pioneered the proof-of-history consensus algorithm to achieve high speed and scalability. The algorithm ensures improved performance, high scalability, and great throughput capabilities. Solana is also being expanded with the launch of many new projects on its blockchain. So, let's understand the underlying concept of the Solana blockchain and learn how to create and place smart contracts on Solana.
Solana is a decentralized blockchain ecosystem designed to avoid common congestion and scalability problems in existing blockchains. The blockchain's main focus is on improving scalabilities such as high transactions per second (TPS) and fast confirmation. It leverages ideas and revolutionary technologies of Intel, Netscape, Google, Qualcomm to create a platform with high performance and impeccable standards. You can learn more about Solana from our earlier Solana development article.
The Solana (SOL) network consists of around 200 physically separate nodes and can handle more than 50,000 TPS throughput when working with a GPU, making it one of the most efficient unlicensed blockchains in the world. Processing smart contracts requests on time have been one of the most difficult problems with blockchains. Solana uses the proof-of-history technique to resolve this problem. With proof-of-history, you can use historical evidence to create historical records that verify events that occurred at a particular time using a high-frequency verifiable delay function.
When a transaction or event is being processed, it is assigned a unique hash and a calculation that can be universally and efficiently verified. The calculation serves as a cryptographic time stamp, allowing us to determine when each transaction or event occurred. Each node on Solana also contains a cryptographic clock, which tracks the time of the network and the sequence of events. Nodes ensure improved throughput and efficiency on the Solana blockchain network.
Since Solana was developed to facilitate the creation of more efficient decentralized applications, most people now prefer to have their platform built on Solana. Another advantage of building smart contracts on Solana compared to other blockchains is the security and difficulty of the programming language. Rust is hard, which makes it even harder for hackers to temper Solana projects. We know you are already thinking about having your platform on the performance-driven blockchain that offers excellent scalability and high throughput. In the next parts of the article, we will discuss more on that.
Let's start with an overview of the Solana development. Note that these changes are intended to simplify the Solana network and help you learn more quickly and easily. Starting with the left side of the diagram (Programmer). There is the initial development workflow that lets you develop custom Rust, C, and C++ programs directly on the blockchain. If the programs become effective they can be used from anywhere by anyone who has an internet connection. To create such a program, a Solana developer must write apps using any SDK available for client development or the CLI.
Solana's smart contract model differs from the traditional EVM-enabled blockchain. Traditional EVM-based contracts connect the code/argument and the state to a single contract that is placed on-chain. In contrast, Solana's smart contract maintains a read-only or stateless mode and contains only program logic. Once a smart contract is written, it can be accessed by external accounts that store data related to the interaction with the program.
Thus, there is a logical separation between state (account) and contract logic (program), a sharp contrast with traditional EVM-enabled contracts. Moreover, the accounts of Solana and other blockchains (such as Ethereum) are quite different. Solana's account stores data (such as wallet information) as opposed to an Ethereum account that only specifies users' wallets.
Solana also comes with a CLI and JSON RPC API to enhance DApps interaction with the blockchain. Decentralized applications can use existing SDKs to communicate with Solana's blockchain and programs.
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All of the above information about Solana are similar to those available on Ethereum. Nevertheless, Solana is considered the closest Ethereum rival or killer. You may be wondering why this is the case given the similarities of the blockchain and why Solana has so many apps.
Here is the reason. Ethereum has long been plagued by exorbitant transaction fees, which can sometimes run into hundreds of dollars, especially during network congestions. Solana has a higher potential throughput than Ethereum, which means it can handle more transactions per second, so the fees are incredibly cheap, typically costing 0.000005 SOL or about $ 0.001. Solana's developers believe that high speeds and low prices will ultimately allow it to compete with centralized payment processors such as Visa. It is one of the new crypto solutions aimed at making crypto networks faster and more scalable.
Once you have a wallet that can hold SOL and Solana-based tokens like Phantom or Solet, you can interact with the many apps available on the Solana ecosystem. You can exchange one token for another on a decentralized exchange like Raydium, or buy an NFT from the Solanart store. Irrespective of what you do on Solana, you will pay the small fee mentioned above, which is reasonable compared to Ethereum.
The first thing any new developers interested in Solana ecosystem needs to understand is there is a lot of wrong information spreading about Solana development on the internet.
You must not be a programmer with decades of experience coding in Rust to start developing. It will be to your advantage if you know these already but it is not compulsory. Smart contracts in Solana are called programs. Rust, C, and C ++ are the languages used to write programs that are deployed on-chain. Solana programs are essential for creating unique and powerful tools on-chain. The best part now is that there are already many programs you can interact with and build on Solana. You can create any kind of dApp like Web2 developers build in centralized applications using 3rd party SDKs. The only difference is that with dApps you are storing data in a blockchain instead of a centralized database and the transaction/storage costs are paid by those who interact with your dApp. Blockchain may seem intimidating to beginner developers, but it is not. You will get to understand this after taking the time to understand blockchain development.
In this section, you will learn how to set up Solana smart contracts. These programs are written in the Rust programming language, and the output prints out on the console. Before you start coding, you need to set up Solana environment in Windows to make the work easier.
Setting up the Solana Development Environment:
A lot of people have a hard time running smart contract code directly from Windows. It is therefore recommended that you set up an Ubuntu version of WSL (Windows Subsystem for Linux). That way, you can write the code in Windows and then compile the Rust Smart contract into a .SOL file.
Solana is a programmable blockchain with support for decentralized applications which makes it a direct competitor to the most popular and leading DApp platform, Ethereum. Unlike Ethereum and other protocols that use smart contracts, however, Solana achieves programmability differently. It uses a function to fetch the existing account's stored number, before raising the value by 1, writing the result, and displaying a message.
Smart contracts in Solana are called programs. These programs are stateless which means that unlike the Ethereum Smart Contract which contains both program logic and state, the Solana program contains only logic that developers place on-chain in 'read-only' mode. Once installed, programs can be accessed by external accounts that contain data related to program interaction. The separation of logic and state informs the specific production flow of Solana dApps.
Each Solana dApp consists of two parts: a blockchain-based program (or set of programs) and a web application that allows users to interact with blockchain code. Developers can place the blockchain program is directly on the Solana blockchain and users can send instructions to the program in form of transactions. A single transaction may contain one or more instructions, which are then executed sequentially and numerically. If all instructions are valid, the program executes successfully.
Each instruction contains a general-purpose byte array that is passed into the program with the account. The data content of the instruction is program-specific and generally used to indicate what activities the program should perform, and may require these operations on and off what is in the accounts.
The programs can specify how the data is encoded in the data byte array. The choice of how the data is encoded should take into account the overhead of the decoding as that step is performed by the on-chain program. It has been noticed that some common encodings (for example Rust's Pincode) are very inefficient.
The token program in the Solana program library provides an example of how instructional data can be encoded efficiently, but keep in mind that this method only supports certain types and sizes. The token uses the pack feature to encode/decode instruction data for both token instructions as well as token account status.
Smart contracts are self-executing and deterministic programs that are powered by a peer-to-peer network. Smart contracts provide a coordinated and enforceable framework for agreements between network stakeholders without the need for third-party or traditional legal agreements. These are often used to formalize simple agreements between parties, to create digital assets, or to support organizational processes.
Smart contracts, from a user's perspective, work much like vending machines. Select the product you want to get, such as a contract, ownership form, or something else. When you enter the right amount in a digital currency, you receive the product you selected. Within the agreement, the applicable rules and specifications are clearly stated and will be enforced automatically. Developers deploy smart contracts and they are also responsible for writing the rules in the native programming language of the smart contract blockchain.
Smart contracts enable autonomy of agreement processes by eliminating the need for third-party mediators. They are secured by cryptography such that no one can steal or lose documents encrypted and stored in the decentralized public ledger. In addition, you do not have to trust the other party you are working with nor do they have to trust you. Developers understand these features of smart contracts and use them in the Solana development workflow. With smart contracts, you can save money on real estate agents, advisors, support, and several other intermediaries that make traditional agreements complicated and expensive. Smart contracts are safer, more efficient, and less complicated.
Before proceeding with smart contract development on Solana, you must install the following:
The program we will be creating on Solana, will be a Hello World Program that counts how many times the program was called for any given account and stores the result on chain.
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We will start by defining the entry point for the program or the program's process_instruction function. Borch, a binary serializer will be used to serialize and deserialize parameters being passed from the program as well as those parameters passed to the program. We will have something like this in the command line:
Here, the public key where the program is deployed to or program_id and the accountinfo, are taken in by the process-instruction function.
The main logic lives in the program result. It prints the message and loops through accounts to select the right one. In this case, there is only one account.
The program then verifies the account has modification permissions or the ability to change the data for given accounts.
In this last phase, the number stored in the existing account is taken by the function and incremented by 1. The result is written and the message for the result is displayed as the count.
The next steps to is deploying the smart contracts or program. You start this by cloning the repository. You then need to set your current environment to devnet which is Solana's test network for smart contracts. Creating new keypairs to interact with the deployed program on the Solana devnet. You will be asked to provide a passphrase for security. Then you can request airdrop tokens to deploy your smart contract. You then need to build the program by running this command:
Simply run the solana program deploy dist/program/helloworld.so command to deploy the program you just built, and voila! the only thing left is to interact with the program.
Smart contracts are a huge deal and the future of literally every industry we know today. We will not have you guess, but it is possible that the value of the Solana blockchain will reach 10 10 trillion in the next ten years. The current valuation of 20 billion is completely thin. Those who can get in before the whales can will reap the biggest gains. You may not hear the potential of Solana anywhere else but developers are launching newer and better projects daily. The project has gained market cap faster than any other coin in the top 100 because people are finally seeing how effective it will be for the future of smart contracts and dApps.
Solana supports the development of a variety of smart contracts for accessing DApps such as P2P transaction systems, NFT marketplaces, wallets, DEXs, and more. The platform's current environment keeps getting better daily with new updates and other features.
We provide end-to-end Solana blockchain development services in the areas of: Blockchain Consulting, dapp development , NFT Marketplace Development, SPL Token Development, Exchange Integration, Wallet Development, Node Development. Our developers provide smart contract development and support services.
We are a team of seasoned blockchain developers with several years of successful coding experience. To give you a glimpse of how we work, lets take a look at our Solana DApp development process. The process is as follows:
Our DApps development services will meet your need by helping you launch user-friendly decentralized applications of all kinds driven by the scalability and speed of the Solana blockchain.
Our Smart Contract Development company offers professional Solana smart contract development services to help you design, implement, and deploy secure and reliable smart contracts on the Solana blockchain. Our team is made up of skillful smart contract developers with a track record of delivering successful projects for a wide range of clients. We use the latest tools and technologies, including the Rust programming language, to ensure that our smart contracts are of the highest quality.
Architecture & Design:
Protocols based on Solana require a development workflow that is bug-free. Our developers take note of this and employ the best practices for designing smart contract architectures. Our developers are proficient in programming languages like Rust, C, and C ++ used to write Solana programs. They can help you launch and scale unique ideas and business solutions on the Solana blockchain.
Audit:
Our Solana developers carry out a comprehensive, systematic analysis and testing of contracts to reveal problems, errors, and inconsistencies in program code. We then provide a detailed report that includes mitigation guidelines, improvement suggestions, and ongoing deployment verification procedures.
Optimization:
Under-optimized smart contracts use more gas than needed. For that reason, we help you reduce the cost of gas in your Solana Smart Agreement by optimizing their execution time. This saves you from being overcharged for smart contracts while installing and running the Solana protocol.
Versed in Blockchain Development: We are a blockchain development company researching the best practices internally to deliver the best decentralized solutions. Our blockchain experts have worked on diverse frameworks and projects from traditional technologies to decentralized finance. All blockchain consultants in our team go through a rigid vetting process and trial period before becoming members of the team.
Complete ecosystem knowledge:
Our developers specialize in top-notch blockchain technology. We've completed hundreds blockchain projects and built applications and utilities across different blockchain ecosystems.
SDK and framework skills:
Our blockchain developers have an in-depth knowledge of Solana-compatible SDK, command-line interface, tools, programming models, and languages such as Solidarity and Rust.
One-stop blockchain service:
We offer all-inclusive blockchain development services for our clients. In this way, we help clients explore new opportunities in the digital world and embrace them through the possibilities of blockchain.
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With the growing adoption of blockchain and decentralized technology, the use of decentralized apps continues to grow with more industries. As a high-speed, scalable, and low-cost ecosystem, Solana facilitates the development of fast and scalable smart contracts and decentralized applications. The core team and contributors also publish frequent updates. We love building on Solana because it offers cutting-edge resources like framework, SDK, and developer tools. Also, the platform includes Solana CLI (which allows users to interact with protocols via the command line) and Solana Explorer (which allows users to search transactions and accounts across different Solana clusters.)
Ethereum is a great project but currently, transaction fees are very expensive.
In this article, we will discuss a Solana Metaplex candy machine for those who have zero knowledge where we show you how to Mint.
Polygon Token Development Company, developing provides tailor-made token development services.
We’ll work with you to develop a true ‘MVP’ (Minimum Viable Product). We will “cut the fat” and design a lean product that has only the critical features.
Designing a successful product is a science and we help implement the same Product Design frameworks used by the most successful products in the world (Ethereum, Solana, Hedera etc.)
In an industry where being first to market is critical, speed is essential. Rejolut's rapid prototyping framework(RPF) is the fastest, most effective way to take an idea to development. It is choreographed to ensure we gather an in-depth understanding of your idea in the shortest time possible.
Rejolut RPF's helps you identify problem areas in your concept and business model. We will identify your weaknesses so you can make an informed business decision about the best path for your product.
We as a blockchain development company take your success personally as we strongly believe in a philosophy that "Your success is our success and as you grow, we grow." We go the extra mile to deliver you the best product.
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