Solana.com (SOL) Coin Guide & Detailed Review

About Solana.com

Solana.com is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, It was officially launched in March 2020 by the Foundation with headquarters in Geneva, Switzerland.

The Solana.com protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Because of the innovative hybrid consensus model, The enjoys interest from small-time traders and institutional traders alike. A significant focus for the Foundation is to make decentralized finance accessible on a larger scale.

Solana.com Basic Points Table

Who Are the Founders of Solana?

Anatoly Yakovenko is the most important person behind Solana.com. His professional career started at Qualcomm, where he quickly moved up the ranks and became senior staff engineer manager in 2015. Later on, his professional path shifted, and Yako venko entered a new position as a software engineer at Dropbox.

In 2017, Yakovenko started working on a project which would later materialize as . They teamed up with his Qualcomm colleague Greg Fitzgerald, and they founded a project called abs. Attracting several more former Qualcomm colleagues in the process, the protocol and SOL token were released to the public in 2020.

Build Crypto Apps that Scale

The is a fast, secure, and censorship resistant blockchain providing the open infrastructure required for global adoption. The can process 50k transactions per second. Don’t believe us? Stress test the network to experience Solana’s speed for yourself.

What Makes Solana Unique?

One of the essential innovations brings to the table is the proof-of-history (PoH) consensus developed by Anatoly Yakovenko. This concept allows for greater scalability of the protocol, which in turn boosts usability.

Solana.com is known in the cryptocurrency space because of the incredibly short processing times the blockchain offers. The hybrid protocol allows for significantly decreased validation times for both transaction and smart contract execution. With lightning-fast processing times, Solana has attracted a lot of institutional interest as well.

The protocol is intended to serve both small-time users and enterprise customers alike. One of main promises to customers is that they will not be surprised by increased fees and taxes. The protocol is designed in such a way as to have low transaction costs while still guaranteeing scalability and fast processing.

Combined with the longstanding professional expertise creators Anatoly Yakovenko and Greg Fitzgerald bring to the project, The is ranked number 42 in the CoinMarketCap ranking as of February 2021.

Why Choose Solana

Scalable

Solana.com leverages Proof of History and several other breakthrough innovations to allow the network to scale at the rate of Moore’s Law.

Low Cost

Never worry about rising fees as your user base grows. The is designed to keep fees low for applications with billions of users.

Composable

The single global state ensures composability between projects. Never deal with multiple shards or layer 2 systems.

The Solana community welcomes you

There are many ways to contribute to the ecosystem. Build an app, organize an event, or create educational resources to help others learn.

How Is the Solana Network Secured?

The relies on a unique combination of proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms. Proof-of-history is the main component of the protocol, as it is responsible for the bulk of transaction processing. PoH records successful operations and the time that has passed between them, thus ensuring the trustless nature of the blockchain.

The proof-of-stake (PoS) consensus is used as a monitoring tool for the PoH processes, and it validates each sequence of blocks produced by it. The combination of two consensus mechanisms makes Solana a unique phenomenon in the blockchain industry.

Where Can You Buy Solana (SOL)?

SOL tokens can be purchased on most exchanges. One choice to trade is on Binance, as it has the highest SOL/USDT trading volume, $8,947,213 as of February 2021. Next is OKEx, with a trading volume of $6,180,82. Other options to trade include Bilaxy and Huobi Global. Of course, it is important to note that investing in cryptocurrency comes with a risk, just like any other investment opportunity.

FAQ Of Solana