The Solana page of Bitcoin Layers is under development.
Bitcoin Layers' focuses its efforts on reviewing protocols that claim to be a bitcoin layer and BTC wrappers that live on alternative chains. Alternative network provide a snapshot into the network architecture, but largely focus on review related to BTC wrappers on the network. If the network is an Ethereum L2, we recommend heading to L2Beat for a deeper dive into the architecture.
Join our telegram to contribute!
Solana
Overview
Status
Mainnet
Type
Alt. Layer 1
Fee Token
SOL
BTC Supply
₿0
Solana is an alternative proof-of-stake blockchain that supports a number of wrapped BTC tokens. It is home to the SVM execution environment which supports more expressive smart contracts.
CUSTODY
DATA AVAILABILITY
OPERATORS
FINALITY ASSURANCE
Trust Assumption Review
BTC Custody
Very High
🛑
cbBTC
cbBTC is managed by a centralized custodian.
Coinbase is responsible for securing the BTC that backs cbBTC. Users trust Coinbase to ensure the funds backing cbBTC are not stolen or lost.
In addition to securing the funds funds backing cbBTC, Coinbase can censor users from using cbBTC and maintains unilateral control of cbBTC's smart contracts.
In addition to securing the funds funds backing cbBTC, Coinbase can censor users from using cbBTC and maintains unilateral control of cbBTC's smart contracts.
Data Availability
Under Review
🔬
Data is stored and made available by an alternative PoS network
Data relative to the network's state is stored and made available by its full node set. Anyone can run a full node and verify the state of the network.
Network Operators
Under Review
🔬
Solana is operated by a distributed validator set
The network's blocks are constructed by a distributed validator set. Validators participate in a proof-of-stake consensus network. Anyone with sufficient resources and token stake can become a validator and participate in block production.
Finality Guarantees
Under Review
🔬
We are currently reviewing Solana's finality guarantees
Solana's finality guarantees are achieved through a distributed consensus mechanism. We are reviewing relevant trust assumptions.
Bitcoin Security
Solana does not inherit any security from bitcoin
In its current state, the network does not inherit security from Bitcoin.
SOL token used to pay fees
Fees to network operators are paid in an alternative token.
No MEV introduced to bitcoin
The network does not introduce any MEV on the Bitcoin L1. Users trust the validators of the network to not reorder their transactions to extract MEV.
Solana does not contribute to the security budget
The network does not currently contribute to the Bitcoin security budget.
Use Cases
Onchain applications
Onchain applications are supported. Onchain applications including borrowing and lending protocols, onchain exchanges (commonly referred to as decentralized exchanges), and more. These applications are supported with more expressive smart contract environments.