How to Build and Launch Smart Contracts on Solana Blockchain?

How to Build and Launch Smart Contracts on Solana Blockchain?

Solana was introduced by Anatoly Yakovenko in 2017 to address the scalability issues on the current blockchains. It has the capability to handle 710000 transactions in a gigabit network and makes transactions every second. Each transaction on the Solana averages 176 bytes and not more than that. In-built by various innovative features, the platform is adopted globally with a growing ecosystem. The platform architecture is intended to increase the growth and frequency of decentralized apps, which are critical for a permissionless financial environment. 

The quickest blockchain termed globally is Solana which has 400+ projects with the topics NFTs, DeFi, Web3, and others covered. Further, it is the first platform to have great speed and scalability with the consensus algorithm PoH. It has gained the reward best-performing blockchain due to its enhanced scalability and throughput. In this blog, we will examine the overview of Solana and how to build and deploy Solana smart contracts. 

What is Solana?

A decentralized blockchain ecosystem built to address the challenges like scalability and congestion issues that are faced in traditional blockchains is referred to as Solana. The primary use of blockchain is to improve the transaction speed and provide faster confirmation times. Solana is an open-source blockchain that uses technologies from Intel, Google, and Qualcomm to maintain its performance standards. 

Before submitting a block, all blockchains must agree on the same timestamp. This process can take longer as nodes exchange information to determine the timestamp. To avoid the need for nodes to wait for agreement on time and to retain timestamps, Solana introduced a solution that incorporates historical evidence. This answer provides a cryptographic proof.

Solana Smart Contract Architecture: An Overview

Unlike conventional EVM-enabled blockchains, Solana employs a different smart contract paradigm. In traditional EVM-based contracts, code/logic and state are combined into a single on-chain contract. A Solana smart contract is a generic program logic that works in read-only mode. Once implemented, other accounts can use it and communicate with the program to store data related to program interactions.

This key distinction allows for a clear division between state (accounts) and contract logic (programs) in Solana smart contracts. Furthermore, Solana accounts differ significantly from those on other blockchains, including Ethereum. Solana accounts store data, such as wallet information, whereas Ethereum accounts only contain user wallet references.

To enhance DApps' engagement with Solana, the platform provides a CLI and JSON RPC API. Additionally, decentralized apps can interact with the blockchain and Solana systems using existing SDKs.

The development process, as illustrated by the software on the left in the above diagram, enables users to build and deploy unique Rust, C, and C++ applications on the Solana blockchain. Once correctly disseminated, these programs can be utilized by anyone with basic programming skills. In order to communicate with these applications, users must build a decentralized application with any one of the existing client SDKs and JSON RPC API.

The second development pipeline, Client (bottom left), enables users to create decentralized applications that communicate with deployed programs. These apps interface with the programs via a client SDK and can be used to create various applications, such as crypto wallets and decentralized exchanges.

How to Create and Deploy Solana Smart Contracts?

Building smart contracts on Solana requires a systematic approach to ensure clarity and proficiency in Solana's smart contract language.

Setting Up the Ideal Solana Environment

Before diving into Solana smart contract development, setting up the Solana environment is essential. For instance, a simple Hello World example in Rust demonstrates its capability to output to the console.

If running smart contract code directly on Windows seems daunting, consider setting up the Ubuntu version of the Windows Subsystem for Linux. This configuration enables you to write code in Windows and compile it in Rust smart contracts to .so files. Necessary commands for setting up the ideal Solana smart contract environment and running the Hello World app for testing should be followed.

Using Rust Programming Language

Solana smart contracts can be constructed using the Rust programming language. Solana CLI version 1.7.11 or later, the most recent stable Rust build, NodeJS version 14 or higher, and Git are all required. These installations are fundamental for progressing in building Solana smart contracts.

Understanding the Hello World Program

The Hello World example serves as a foundational smart contract that logs messages to the console and maintains a count of its usage per specific account on-chain. Understanding this example helps in grasping the basic concepts of Solana programming parameters and utilizing tools like BORSH (Binary Object Representation Serializer for Hashing) for serialization and deserialization.

Deploying Solana Smart Contracts

Once familiar with building Solana smart contracts, the next step is deployment. Begin by cloning the repository and configuring the environment to Devnet, Solana's test network. This allows developers to test their smart contracts effectively.

After testing proficiency, generate a new key pair to interact with accounts and deploy applications on Solana Devnet. Note that this approach is suitable for demonstration purposes and may not be entirely secure for critical storage. Obtain SOL tokens via airdrop, as well as the necessary imports for smart contract construction.

Create the Hello World program using appropriate commands and deploy it on Devnet. Confirm the deployment by assigning a program ID and verifying it on Solana Devnet Explorer.
This systematic approach ensures a clear path to building and deploying Solana smart contracts, enhancing proficiency and understanding in Solana's blockchain ecosystem.

Ourservices 👍

• Cryptocurrency exchange development company 

• Cybersecurity development Company 

• Blockchain development company 

• Metaverse development company 

• Web3 development company 

Final Thoughts 

As blockchain and decentralized technologies are emerging adoption of these applications continues to grow across various sectors. Solana provides a fast, scalable, and cost-effective environment in blockchain. It facilitates the construction of decentralized apps and also supports the creation of smart contracts. Moreover, Solana frequently releases updates to enhance its capabilities.
Osiz stands out as a prominent smart contract development company, leveraging its deep expertise in blockchain technology to deliver customized solutions. With a strong emphasis on efficiency and reliability, Osiz supports clients through all phases of the smart contract development journey in Solana Blockchain, from initial conceptualization to deployment.

Original sources : https://www.osiztechnologies.com/blog/solana-smart-contract-development

#solanablockchaindevelopmentcompany #solanatokendevelopment #blockchain #osizstudios #osiztech #usa #uk #uae