Introduction to Solana
Getting started with Solana
Aver is built on the Solana blockchain, which operates differently to other Layer 1 and Layer 2 blockchains such as Ethereum, Polygon, Avalanche, etc.
Solana was selected as Aver's home due to it's high transaction throughput at a very low cost. This enables participants to interact with the fully decentralised protocol for much less than a cent per transaction. It also enables the use of orderbook based matching - the fundamental premise behind Aver.
Transaction fees are taken in SOL, Solana's native token. You may also hear the term 'lamport' which has a value of 0.000000001 (10^-9) SOL.
Solana Wallet Guide
In order to use Aver, you will need a Solana wallet with a 'keypair' (a public and private key). Read through the Solana Wallet Guide if you are new to Solana or blockchains.
What is a wallet and keypair?
On the blockchain there is no concept of a username and password. Instead, there are 'keypairs' - a combination of a public and private key.
The public key can be widely shared and is visible on any transactions related to the account on the blockchain's records.
The private key, on the other hand, must be kept secure as it is used to 'sign' transactions on the client side before sending them to the blockchain for processing. Blockchain validators can cryptographically validate that the transaction has been signed by the required private key without needing the private key to be revealed.
The term 'wallet' is often used to refer to a keypair, or a collection of keypairs. Sometimes the wallet may be wrapped in a UI (a browser plugin or application), or it may simply be controlled programmatically within a script.
Solana Networks
There are number different networks available at anytime
Localnet - Local version of blockchain
Devnet - For development purposes
Testnet - For testing validator nodes
Mainnet Beta - For real transactions
Networks in bold are relevant to your interactions with Aver.
When interacting with a network, it is essential to be mindful of which network you are connected to, as instructions sent to the blockchain are irreversible (i.e. a transaction sent to the Mainnet network will have a consequence in terms of real value, if the transaction is valid and can be processed).
The protocol, API and application are continuously available on both devnet and mainnet. It is recommend to test extensively using devnet before deploying your tooling on mainnet.
On Devnet and Testnet, you can request an airdrop of SOL. This will gift your wallet up to 2 SOL.
Tokens & Cryptocurrency
Like with most blockchain applications, Aver uses cryptocurrencies (or 'tokens') as the means to transact value.
When using Aver, orders and bets are funded using tokens and depending on the outcome of events, participants will win or lose tokens.
Currently, all Aver markets are denominated in USDC. This is a 'stable coin' which means it is exchangeable exactly 1:1 for a fiat currency (in this case the US dollar). In the future, markets denominated in other tokens may feature, as well as support for converting tokens prior to interaction with the protocol.
On devnet, a 'play' USDC token is used, which you can obtain. See the example for more details
Unlike Ethereum and other blockchains, all tokens are administered and transferred on the Solana blockchain using the SPL token program.
Glossary
This glossary may be a useful resource when getting up to speed with Solana and Aver.
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