Solana (SOL)

The exchange rate of one SOL at 14:53 UTC is 167.74$

Chart | Average rate

One of the main problems of all the largest crypto networks, including the Ethereum platform, is low scalability, leading to an increase in cost and an increase in transaction confirmation time. Meanwhile, the “Solana” project, launched in 2017 under the leadership of Anatoly Yakovenko, was created to address the shortcomings of existing and new blockchains.

The main advantage of this ecosystem is the ultra-fast construction of new cryptoblocks, which takes only 400 milliseconds, while in the Bitcoin network this figure is about 10 minutes. In addition, Solana boasts a high throughput of 700,000 transactions per second, which is several times more than that of the VISA banking system.

In addition, this platform uses the latest “proof-of-history” mechanism for confirming transactions, using timestamps in each created block, which allows you to quickly select validators without having to coordinate with many masternodes. Also, an important feature of the Solana blockchain is that it allows any participants to create delegated nodes without depositing their own funds, unlike other similar cryptosystems, including Ethereum, where the price of a validator status is $140,000.

The Solana infrastructure, similar to ETH, uses smart contracts, but the supported programming language called “RUST” has a more complex structure, as a result of which decentralized application developers will have to undergo additional training.

The main cryptocurrency of the project, which has the stock ticker “SOL”, is now in the TOP-5 leaders of the crypto market on CoinMarketCap with a market capitalization of over $65 billion, and this is a very big achievement for such a young startup. To buy or sell the native SOL coins, you can use any major trading platforms, not excluding Kraken, KuCoin, Binance, Coinbase, FTX, Bithumb, Bitfinex, ByBit, Coinone, Huobi Global, LBank, etc.

In conclusion, it is worth noting that many experts attribute the rapid growth of the native SOL currency to the increased activity of the decentralized finance sector, which made it possible to attract more than $7.5 billion from venture investors to the site. However, the concept of the Solana system has many competitors, including EOS, TRON, as well as Ethereum, as a result of which it is reasonable to buy this asset for only a small part of the investment crypto portfolio.