The Solana price is notably softer this morning and lower by around 4.5%. However, SOL is parked on two important...
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
A new facility to mint tokens on the Solana platform has been launched by Dexlab. The new facility, dubbed MintingLab,...
The Solana price recovery is well underway. But there are some significant levels for both the bulls and the bears...
The Solana price is gaining momentum today. The SOL token price surged by more than 50% in the past 24...
The Solana price upward momentum is continuing. The SOL token rose to an all-time high of $75.45 as demand rose....
The Solana price (SOL/USD) has reversed the recent gains and lost 15% in the last few days, and SOL may...
The Solana price is flying on Friday. The SOL token has jumped by more than 9% and is trading at...
The Solana price surged to $120 this morning as investors react to a tweet from Solana’s official account suggesting today...
The Solana price has been unstoppable recently, gaining more than 500% in a six-week buying frenzy. However, all good things...
The Solana price starts the week firmly in the green as the protocol’s expanding ecosystem encourages buyers. Today sees more...