What Is Solana£¿

Solana is a decentralized computing platform that uses SOL to pay for transactions. Solana aims to improve blockchain scalability by using a combination of proof of stake consensus and so-called proof of history. As a result, Solana claims to be able to support 50,000 transactions per second without sacrificing decentralization.

Like Ethereum, Solana is both a cryptocurrency and a flexible platform for running decentralized apps (dapps) ¡ª everything from Degenerate Apes to the Serum decentralized exchange (or DEX). Its major innovation is speed, via a bundle of new technologies including a consensus mechanism called proof of history (PoH). Solana can process around 50,000 transactions per second ¡ª compared to 15 or less for Ethereum.

What makes Solana unique?

Solana is a general purpose blockchain similar to Ethereum. It has a different technical underlying such that developers write applications using Rust instead of Solidity or Vyper. End user applications in the Solana ecosystem includes decentralized finance (DeFi), non-fungible tokens (NFT), marketplaces, games, e-commerce and more.

One of its biggest feature is its scalability in which Solana is able to process over 700,000 transactions per second. Its high throughput capability appeals to high frequency traders, in which spearheaded by FTX and Alameda Research.

Solana in 2022

Solana crypto price experienced a hyperbolic growth in 2021. With the advent of multichain and increased adoption of DeFi and NFT, Solana managed to capture a large market share. Developers were attracted by the technical underlying and started building dapps such as Star Atlas, Mercurial, Orca, Saber, and more.Yield farming on Solana caught on shortly after that as a way to attract liquidity and activities to the network. In 2022, it remains to be seen if Solana and its ecosystem of dapps is able to capture market share.

While Solana has been on a high note, it did experienced some setback with network outages lasting as long as over 16 hours on September 15th, 2021. The Solana team and node operators coordinated a reset in order to revive the network. Despite that, Solana coin managed to remain steady above $150 after the incident occured.

How To Buy Solana£¿

To buy Solana, first you need to pick a crypto exchange.

Step 1: log in to a reliable exchange website and enter the market page.

Step 2: Register to create your account and bind the bank account.

Step 3: Search for Solana.

Step 4: Fill in the purchase quantity and click to buy. If it is sold, fill in the sell quantity and click to sell.

Where To Buy Solana?

Many exchanges offer Solana trading opportunities such as Binance, Coinbase, FTX and Bitfinex.