Implementation of an ETS on the Solana Blockchain

Considering the growth of blockchain-based technologies and decentralized applications this thesis aims to explore the potential of Solana, an open-source project implementing a new, high-performance, permissionless blockchain, and taking steps to bring the chain’s footprint to zero. The Solana Blockchain, designed by Anatoly Yakovenko, stands out for its innovative approach to scalability. By utilizing a unique combination of breakthrough technologies, such as Proof-of-History (PoH), Tower BFT consensus, and high-performance architecture, Solana has achieved remarkable throughput and low-latency transaction processing. These key features make it an ideal platform for building complex and data-intensive applications, capable of handling thousands of transactions per second. Specifically, the thesis will examine how Solana's features, such as its high transaction speed and low transaction fees, can facilitate the implementation and operation of a simplified version of an Emission Trading System. An Emission Trading System, or ETS, is a market-based mechanism used to regulate and reduce greenhouse gas emissions. It involves the issuance, trading, and retirement of emission allowances or permits among participating entities, encouraging them to invest in cleaner technologies and practices. By introducing a Solana-powered ETS, we can explore how this blockchain's features can enhance the efficiency, transparency, and accessibility of the system. Traditionally, ETSs have faced challenges related to scalability, high transaction costs, and the lack of real-time data accessibility. Leveraging Solana's robust infrastructure, we can address these limitations and create an ETS that is both more efficient and user-friendly. The high-speed transaction processing and low fees on the Solana blockchain could significantly reduce the costs associated with trading emissions permits and enable seamless transactions at scale.