Although the Solana price has been consolidating following September’s all-time high, the long term uptrend says more gains are ahead....
Solana
What is Solana?
Solana is a decentralized blockchain platform regarded as a major competitor to Ethereum as a host for decentralized applications. Solana was created in 2020 by developers at Solana Labs in San Francisco and is managed by the Solana Foundation based in Geneva, Switzerland.
Solana has emerged as a hub for decentralized finance (DeFi) apps rivaling Ethereum, which has seen the valuation Skyrocket despite being less than two years old. One of the main advantages associated with Solana is its low transaction (gas) fees compared to Ethereum’s.
What is the network?
Solana’s native cryptocurrency goes by the same name and trades under the ticker symbol SOL. Solana’s network operates on a proof of stake (PoS) model, which is more energy-efficient than the proof of work (PoW) model pioneered by Bitcoin, which consumes a lot of energy.
Transactions on the Solana network cost about 0.000005 SOL, or $0.001, while transactions on Ethereum’s blockchain can be in thousands of dollars, especially when the network is at its busiest.
How to trade Solana
There are multiple ways to trade Solana, but the two most common methods are via a cryptocurrency exchange. You can buy the SOL crypto using dollars or other fiat currencies.
The other popular way to trade Solana is to trade its derivatives via an FX or CFD broker that offers SOL as a quote traded against the US dollar.
Solana Latest news
Solana price has started its bull run before any other digital asset. This means a miraculous recovery for a cryptocurrency...
A new facility to mint tokens on the Solana platform has been launched by Dexlab. The new facility, dubbed MintingLab,...
DappRadar, a blockchain market analytics firm, has issued its Q2 2022 behavioural study report as the global digital assets market...
Polygon and tech startup Nothing have announced that they will be working together to integrate Polygon’s technology into Nothing’s first smartphone, called the Nothing...
Serum price has staged a strong recovery as the so-called Sam coins rallied. SRM has risen in the past three...
Skrill and NETELLER just added Solana to their list of supported cryptocurrencies. Therefore customers of both payment networks can now...
Solana price has struggled lately. SOL is trading at $43.74, which is slightly below the all-time of $50.3. Its market...
The Solana (SOL) price has pulled back after surging to an all-time high of $29.90 yesterday. It has fallen by...
Solana (SOL) has struggled in the past few days as investors focus on the upcoming platforms like Avalanche and Crypto.com...