What is Solana (SOL)?
Solana is a decentralized and open-source cryptocurrency that utilizes the proof of history and proof of stake mechanism. It claims to support more than 50,000 transactions per second which is 10X the other blockchains. Solana was founded by Anatoly Yakovenko and is the CEO currently. Investors consider Solana as the main rival of Ethereum as it offers smart contracts too. Smart contracts allow decentralized apps to be built on top of their blockchain.
Unique features of Solana (SOL)
Solana comes with unique features and advantages over other cryptocurrencies.
Proof of History
Proof of history allows the Solana blockchain to track transactions easily. It is a clock that shows the time and the order of events on the blockchain. It helps the nodes to be independent hence boosting the network throughput.
This is a simple implementation that helps the Solana nodes to make a decision fast without having to communicate with the rest of the nodes. Tower BFT boosts Solana transactions speed.
This is the protocol that helps Solana to Complete 50, 000- transactions per second. It allows validators to check transactions faster hence reducing memory and confirmation time requirements.
It helps to break data into small pieces that are easier to transfer through the nodes.
This helps to assign input data to different processing hardware for quick transactions.
The current situation of Solana (SOL)
Solana breaks data into smaller pieces for easy transmission. This makes it more scalable compared to most cryptocurrencies. Solana is currently trading at $135 which is 26685% more than it was a year ago. It has a market cap of $39,559,661,226 making it the 7th largest cryptocurrency in the world.
Thanks to its speed, security, and low transaction fees, Solana has more room to scale. All the decentralized apps built on the Solana Blockchain can scale too. The main difference between Solana and Ethereum is that it has low gas fees and is 10 times faster.
Since its Launch, Solana has grown massively. Many projects have been built on top of its blockchain hence making it unstoppable. Unlike Ethereum with an infinite supply, Solana has a maximum supply of 488,630,611. This shows that it can grow in value 100X or 1000X in the future.
ZB and Solana (SOL)
If you are looking for the best exchange to buy and trade Solana then ZB might be your best option. This exchange has been in the market for 8 years. It was launched in 2013 in china. However, it later grew to become an international exchange. Currently, it’s ranked as one of the best exchanges in the world.
ZB has been working closely with the Solana founder to bring its users more unique features and projects. This is a platform that loves to work with quality projects for the advantage of its user. ZB believes that Solana is here to stay and will likely pass the current big players in the market. Sign up on ZB.COM and Start trading Solana today.