Solana Price SOL

    About Solana

    The Solana protocol makes it easier to create decentralized applications (DApps). By adding a proof-of-history (PoH) consensus along with the blockchain's underlying proof-of-stake (PoS) consensus, it seeks to increase scalability. It offers solutions for decentralized finance (DeFi).


    Solana attracts attention from institutional and small-time traders because of its distinct hybrid consensus strategy. The Solana Foundation places a lot of emphasis on expanding access to decentralized finance.


    Solana was made, and the first work on the project started in 2017. However, the Solana Foundation, which has offices in Geneva, Switzerland, formally launched the initiative in March 2020.

     


    Solana Features and Updates

    One among many crypto solutions seeking to speed up and scale up crypto networks is Solana. It uses various ingenious technologies, including the cutting-edge "proof of history" method. Solana's hybrid protocol and validation times for transactions and smart contract execution are reduced. Solana has also received institutional attention because of its blazingly quick processing speeds.


    The Solana protocol is designed to benefit both casual users and business clients. One of Solana's primary guarantees to customers is that rising fees and taxes will not catch them off guard. The protocol's structure ensures scalability and quick processing while maintaining low transaction costs.


    According to the Solana Foundation, 489 million SOL tokens are projected to be circulated. There are now 358,515,839 million of them on the market. The following is the distribution of SOL tokens:


    • 16.23% of the tokens were used for an initial seed sale.
    • 12.92% were put toward a founding sale.
    • 12.79% were given to team members.
    • 10.46% were donated to the Solana Foundation.


    The remaining tokens must still be sold to the market or issued for public and private transactions. The inaugural seed sale for Solana took place on April 5, 2018, and the cost was $0.04. That implies a remarkable 5400X return on investment using the most current ATH (ROI).

     


    Solana Team

    Most importantly, Anatoly Yakovenko is the force behind Solana. At Qualcomm, where he began his professional career, he swiftly advanced through the ranks and was named senior staff engineer manager in 2015. Later, Yakovenko's career path changed, and he started working for Dropbox as a software developer.


    Yakovenko began working on a project in 2017 that would eventually become Solana. Together, he and Greg Fitzgerald, a fellow employee at Qualcomm, launched the Solana Labs initiative. The Solana protocol and SOL coin were made available to the general public in 2020, drawing more former Qualcomm employees.

    How it works

    Solana is a processing platform that can communicate with smart contracts, much like Ethereum. Different applications, including NFT markets, DeFi, games, and decentralized lotteries, are powered by smart contracts.


    The Solana crypto app ecosystem supports assets worth billions of dollars. A consumer could choose an app that uses Solana because of the fast speeds and minimal congestion, which leads to cheaper costs.


    In the blockchain market, Solana combines two consensus processes. The Solana protocol's primary element, proof of history, handles most transaction processing, and the PoH ensures the blockchain's trustlessness by recording successful operations and the interval between them.


    Generally, proof-of-history (PoH) and proof-of-stake (PoS) consensus techniques are used exclusively by Solana. The PoS consensus certifies each sequence of blocks generated by the PoH operations and serves as a monitoring tool for them.

     


    How to Buy Solana

    Since BingX has the lowest Solana transaction charge among all exchanges, the best customer service, and the best support for the cryptocurrency, it's the best place to buy Solana. Get in touch with them now!

    Release Time: 2020-03-23

    How FTX Collapse Caused Crypto Market To Shed Over $100 Billion In 24 Hours

    Major cryptocurrencies are down with some depreciating in value more than 10% in the past 24 hours. Just days earlier, Binance CEO Changpeng Zhao anno

    Amost $1B Worth of Solana Tokens to Be Unlocked by Thursday

    Solana’s Epoch 370 is set to end in a little under 24 hours, and with it will come the unlocking of over 47 million SOL tokens by validators. This mas

    Circle Announces Euro Coin (EUROC) Expansion to Solana Blockchain

    USDC issuer Circle announced plans to expand native support of its Euro-backed stablecoin – Euro Coin (EUROC) –  to the Solana blockchain in the

    Co-Founder Of Solana Speaks On Blockchain Outage And Reliability Issues

    Solana is one of the trending blockchains. It emerged to offer similar operations as Ethereum while improving on some of its faults. The notable featu

    Google Becomes Solana Validator, SOL Ignites With 15% Increase

    Solana (SOL) has painted its short-term price gauges in green after it responded positively to a recent development that involved its blockchain netwo

    Cloud Provider Bans Solana Nodes, Taking 40% Offline

    Solana – which prides itself on being a decentralized censorship-resistant network – is, like any other blockchain, heavily dependent on cloud computi

    Click to share your investment experience and trading strategies
    Picture Currency
    Send

    Community Forum

    More
    SOL Calculator

    BUY

    SOL
    Price
    Spot
    USDT

    BingX has the lowest Solana (SOL) transaction fee among all major exchanges

    CoinBase

    1.99%

    Karaken

    0.26%

    Binance

    0.1%

    BingX

    0.075%

    Top Assets

    The most traded asset on BingX.com in the last 24 hours.

      © 2018-2022 BingX.com. All rights reserved

      Live Chat