Solana

Solana is a high-performance blockchain designed for decentralized applications and crypto-currencies. Unlike Ethereum and many of the blockchains mentioned earlier, Solana does not natively support Externally Owned Accounts (EOAs) in the same way. Instead, Solana uses a different account model.

Solana's Account Model

1. Account Structure

Solana accounts are more generalized than EOAs and are used to store data. Each account has a certain amount of space allocated to it and can store arbitrary data. Accounts are stateful objects that hold both data and the SOL balance. This model allows for greater flexibility in how accounts can be used.

2. Keypairs and Signers

In Solana, an account is controlled by a keypair (public and private key). The private key is used to sign transactions, while the public key serves as the account address. This concept is somewhat similar to EOAs but differs in the following ways:

• Multiple Signers: Transactions can require multiple signatures from different keypairs, adding a layer of security.

• Program-derived Addresses (PDAs): These are addresses generated by programs (smart contracts) on the blockchain and can be used to manage accounts without requiring a private key.

3. Data Storage and Rent

Solana accounts store data, and maintaining an account incurs a rent fee, which is a small amount of SOL. If the rent is not paid, the account becomes inactive.

4. Transaction Model

Transactions on Solana are constructed differently from Ethereum:

• Instructions: A transaction contains one or more instructions, each specifying a program (smart contract) to invoke.

• Accounts: Each instruction specifies which accounts are involved and what data they need to access.

• Signers: The transaction includes signatures from the necessary keypairs.

Key Differences from EOAs

• Flexibility: Solana accounts can store more complex data structures and interact with programs in more versatile ways than EOAs.

• Rent System: Unlike EOAs, Solana accounts require rent to remain active, which can affect long-term storage costs.

• Multi-signature Support: Solana natively supports transactions that require multiple signatures, enhancing security without needing additional smart contracts.

• Program Interaction: Solana’s account model allows for more sophisticated interactions with programs, leveraging PDAs for managing permissions and data.

Summary

While Solana does not use EOAs in the traditional sense found in Ethereum and many EVM-compatible blockchains, it employs a flexible and powerful account model that supports keypairs, multi-signature transactions, and program-derived addresses. This model is designed to enhance scalability, performance, and security, making Solana suitable for high-performance decentralized applications.