Solana (SOL)
About Solana
What is Solana?
What is Solana?Solana is a web-based decentralized blockchain that provides scalable and efficient solutions to decentralized projects, apps, and marketplaces. At the moment the system is eligible to hold about 50K transactions per second which is extremely profound for a decentralized network. The most elementary objective of Solana is to merge different pieces of elegant software together to achieve a rather satisfying transaction throughput which is in proportion with the network bandwidth. This way the crypto aims at covering all the major elements a decentralized space has such as decentralization, scalability, and of course the security of the transaction taking place onto the blockchain.
Solana was created back in the year 2017 by Anatoly Yakovenko. He worked with a team of profound developers to create Solana and had immersive experience working as the software engineer for Dropbox while having immense experience in the compression algorithm space. Initially, there were a lot of throughput problems with the Ethereum and Bitcoin’s blockchains respectively and that is why Anatoly came forward with a solution to the problem in the form of Solana. Many investment firms and businesses have already invested a fortune into Solana based on the explicit qualification of the development team and its ability to tackle various on-site problems.
Unique aspects of Solana
One of the most promising things about Solana is that it delivers efficient transaction speed and brings the transactional throughput within an applicable range. This makes the transactions get completed at a faster rate without ending up in an error or some other kind of digital mumble. It was initially designed to solve the initial transaction-related issues for various blockchains and cryptocurrencies out there and surprisingly enough Solana is still serving these partners to this date.
It employs a more efficient consensus algorithm and due to this fact, the transaction speed is exemplary, due to the fine broad of developers backing up its play Solana is able to reduce the gas costs on the blockchain and at the same time achieve a low latency too which is what makes this cryptocurrency more dynamic than any other out there. If the platform continues to perform the way it has over the years then someday it would really be able to give both Ethereum and Bitcoin some tough competition. This cryptocurrency is certainly the one to look out for as the development team continues to bring more and more improvements to the platform.
Why you should buy Solana?
The most aspiring aspect of Solana is that it is tamper-proof and as transparent as it goes, this makes this cryptocurrency not only stand from the rest of the crowd but also helps with the consistency of the transactions taking place on its blockchain. One thing is for sure that when you are using Solana there are no unknown interruptions or errors of any kind and your transactions take place as a sizzling knife goes through a knob of butter.
If you are going to invest in it with a mindset of making an instant buck out of it then you must not invest in the whole crypto market because it takes time for the coins to mature and the companies and blockchains to reach a certain level of consistency. But on the other hand, if you are patient enough and want this to be a learning experience then you must begin with Solana right away.
