Solana Crypto
SOL Crypto | USD 147.48 0.13 0.09% |
PerformanceModest
| Risk Of DevaluationBelow Average
|
Moving together with Solana Crypto Coin
Solana Crypto Coin Highlights
Thematic Idea | USD Crypto Fund (View all Themes) |
Business Concentration | USD Crypto Fund, Technology, Cryptocurrency, Blockchain (View all Sectors) |
Solana is one of many evolving digital currencies in which encryption is used to regulate the generation of units of currency and verify the transactions independently of a central authority. It is traded on 27 exchanges in multiple currencies. Solana (SOL) saw in late 2020 its adoption start picking up steam. In October 2020 Circle expanded the USDC stablecoin into the Solana network. The move came shortly after Tether’s USDT was added to it in September 2020.What is Solana?Solana is a high-performance blockchain founded by former Qualcomm, Intel, and Dropbox engineers that uses a delegated Proof-of-Stake (dPoS) consensus algorithm. The network uses a unique method of ordering transactions to improve its speed and throughput significantly.Blockchain networks have historically struggled with scalability issues, with the few that managed to solve them dealing with centralization issues. A decentralized network with small confirmation times and transaction fees has been hard to create, but the problem was tackled in 2017 with the creation of Solana.Using what’s known as Proof-of-History (PoH), the Solana blockchain is able to handle thousands of transactions per second. PoH uses Verifiable Delay Functions to hash incoming events and transactions to allow nodes to locally generate timestamps of SHA256 computations, eliminating the need for timestamps to be broadcasted across the network.The Proof-of-History mechanism is implemented prior to, and facilitates, Solana’s Proof-of-Stake structure. Staking on Solana involved delegating tokens to validators who process transactions on the network, turning it into a delegated Proof-of-Stake (dPoS) system.According to the Solana team, there are eight major innovations allowing the network to scale to serve the web with capabilities matching those of a centralized system. The network has 400ms block times and can handle up to 65,000 transactions per second.The network has already processed well over 21 billion transactions while handling over 800 transactions per second of real demand.What is the SOL token?The Solana blockchain has a native cryptocurrency, the SOL utility token. SOL is used to pay for transaction fees when moving funds around and interacting with smart contracts on the blockchain.Anyone holding SOL tokens can interact with applications on the network, the same way anyone holding ETH can interact with applications on the Ethereum blockchain. While Ethereum uses the ERC token protocol, Solana uses the SPL protocol.SOL has two main use cases: It’s used to pay transaction fees and to interact with smart contracts It can be staked as part of the dPoS consensus mechanism to earn staking rewardsApart from these two use cases, decentralized applications being built on top of the Solana blockchain create new ones. These applications may allow SOL to be used as collateral for cryptocurrency-backed loans, or to be lent out to earn interest. |
Coin Type | Solana |
Proof Type | PoH |
Industry | Financial and Insurance Activities |
FINMA | Utility |
FCA | Utility |
Access | Permissioned |
Collateralized Asset | No |
Symbol | SOL |
Rating | D+ |
Name | SOL |
Is Trading | true |
Full Name | Solana (SOL) |
Sponsored | false |
Coin Name | Solana |
Solana's Exchanges and Markets
HitBTC Coinmate CoinJar Bitfinex Bitstamp Luno Unocoin itBit Coinbase Kraken NDAX Poloniex BitMart Binance Korbit DigiFinex Exmo Coinone Bitkub Gemini Bithumb BTCMarkets Bibox Bitso CoinEx LBank BigONETechnical Overview of Solana
Solana is the invention of Anatoly Yakovenko. It's a platform designed to address the shortcomings of more traditional and established blockchain platforms. The platform can efficiently perform about 50,000 transactions in a second. That's the most outstanding factor that makes the platform unique. Solana can seamlessly add multiple properties to its existing network in a fraction of a second. It has made a name for itself as Ethereum's competitor.
What Technology Does Solana Use?
Solana uses the native SPL protocol, a token standard that the blockchain adopts, closely similar to Ethereum's ERC20 on the Ethereum network. The tokens achieve two primary goals. The first is to pay fees when interacting with intelligent contractors or performing other activities on the platform. Secondly, the tickets make a user eligible to become a validator or leader within the network. When a user is a validator, they can oversee the smooth running of the environment.
What are Solana's Features?
Solana's high performance is because of the seven key features that add speed and efficiency. They also contribute to secure data storage and faster transaction processing. The features create a platform friendly to applications that involve many transaction activities. That explains why the network is home to NFTs, video games, and DeFi activity.
The seven proprietary features that boost Solana's speed are:
- Archives: The distributed ledger store
- Cloudbreak: The horizontally scaled accounts database
- Pipelining: The transaction processing unit for validation optimizations
- Gulf Stream: The Mempool-less transaction forwarding process
- Turbine: The communication protocol
- Tower BFT: Aims to reduce messaging overhead and latency
- Proof of History: Marks history of a hash, performing as an on-chain clock.
Solana has a fast, secure, and censorship-resistant protocol. It also offers a decentralized blockchain network, combining proof of history and stake. Its foundation is in the RUST programming language, providing a robust base for safeguarding transactions.
What Makes Solana Unique?
Proof of History is the central concept that sets Solana apart from the competition. The feature provides the highest throughput of any Layer-1 blockchain. Another feature of Solana, Sea level, is the world's first parallel smart contracts runtime. These two give Solana an edge, making it competitive in global businesses.
Solana gains value from its seven core features listed above. Their design and making are that they allow the network to outperform most other blockchain platforms, providing a scalable environment for global businesses to deploy crypto apps. Solana's native SOL cryptocurrency comes from its utility. Users can leverage SOL to secure the network through staking as delegators or validator nodes.
The choice is profitable for SOL holders as stakers get half the transaction fees and most of the emission of new tokens. As the Solana ecosystem grows and processes more transactions, the platform will become more valuable. The demand by stakers, users, and developers will continue to grow.
Solana Risk Profiles
Mean Deviation | 3.48 | |||
Semi Deviation | 3.92 | |||
Standard Deviation | 4.73 | |||
Variance | 22.38 |
Solana Technical Analysis
When it comes to investing in cryptocurrency, such as Solana, the assumption holds that everything in the market that could affect the price of crypto is already reflected. Therefore, the price of Solana, which is currently traded at 147.48, shows everything you need to know about Solana market value. You don't have to consider the fundamental factors that affect a crypto asset, such as Solana, to determine its price movements. However, the Solana's price action will always exhibit trends, even in random market movements, regardless of the timeframe you use - so Solana's future price movement is more likely to follow an established trend and the cryptocurrency technical analysis is one of the ways to project Solana's future price trendTransformation |
Solana Against Markets
Be your own crypto manager
Our tools can tell you how much better you can do entering a position in Solana without increasing your portfolio risk or giving up the expected return. As an individual cryptocurrency investor, you need to find a reliable way to track the performance of all your tokens in a consistent way. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall cryptocurrency portfolio.Did you try this?
Run Technical Analysis Now
Technical AnalysisCheck basic technical indicators and analysis based on most latest market data |
All Next | Launch Module |