|Solana (SOL)||Buy Solana Now|
|Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions...|
|Change 7d||7.01%||Market Cap||$8 214 229 812|
|Available supply||396 595 390 SOL|
|Volume 24h||$202 326 978|
|Updated||Thursday, June 1, 2023 3:00:03PM UTC|
General SOL facts, technical details and Solana Cryptocurrency information
Solana 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, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.
The Solana 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, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
Anatoly Yakovenko is the most important person behind Solana. 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 Yakovenko entered a new position as a software engineer at Dropbox.
In 2017, Yakovenko started working on a project which would later materialize as Solana. He teamed up with his Qualcomm colleague Greg Fitzgerald, and they founded a project called Solana Labs. Attracting several more former Qualcomm colleagues in the process, the Solana protocol and SOL token were released to the public in 2020.
One of the essential innovations Solana 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 is known in the cryptocurrency space because of the incredibly short processing times the blockchain offers. Solana’s 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 Solana protocol is intended to serve both small-time users and enterprise customers alike. One of Solana’s 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, Solana is ranked number 42 in the CoinMarketCap ranking as of February 2021. The Solana Foundation has announced that a total of 489 million SOL tokens will be released in circulation. At the moment, about 260 million of these have already entered the market.
The SOL token distribution is as follows: 16.23% went towards an initial seed sale, 12.92% of tokens were dedicated to a founding sale, 12.79% of SOL coins were distributed among team members and 10.46% of tokens were given to the Solana Foundation. The remaining tokens were already released for public and private sales or are still to be released to the market.
Solana 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 Solana 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.
SOL tokens can be purchased on most exchanges. One choice to trade Solana 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 Solana 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.
|Date||Open, $||Min, $||Max, $||Market cap, $|
|May 23||19.55||19.54||20.11||7 941 436 535|
|May 24||20.05||18.95||20.05||7 624 285 470|
|May 25||19.23||19.07||19.44||7 622 372 845|
|May 26||19.26||19.15||19.48||7 697 978 369|
|May 27||19.37||19.37||20.34||8 061 164 067|
|May 28||20.42||20.42||20.90||8 284 270 694|
|May 29||20.80||20.33||20.90||8 163 478 562|
|May 30||20.59||20.56||21.36||8 433 902 316|
|May 31||21.25||20.50||21.31||8 241 243 902|
|Jun 01||20.82||20.50||20.83||8 214 229 812|
* Crypto Rating accepts no liability for any errors in the Solana information, SOL Prices and SOL's Market Cap. For the most up-to-date prices please visit the Solana's official website.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||88%||10||$26 897.71||-0.57%||2.07%||$521 544 143 377|
|2||ETH||Ethereum predictions||94.4%||5||$1 860.48||-0.05%||3.44%||$223 714 819 656|
|3||USDT||Tether predictions||92%||1||$1.000026||-0.01%||0.03%||$83 224 498 225|
|4||BNB||Binance Coin predictions||94.8%||1||$304.67||-0.61%||-0.08%||$47 485 262 045|
|5||USDC||USD Coin predictions||92%||1||$0.999756||-0.01%||-0.01%||$28 847 127 885|
|6||XRP||XRP predictions||77.2%||37||$0.504250||-1.53%||11.90%||$26 212 632 900|
|7||ADA||Cardano predictions||92%||10||$0.364572||-2.55%||1.76%||$12 717 605 112|
|8||STETH||Lido stETH predictions||94%||1||$2 941.39||-0.40%||-3.32%||$10 258 752 564|
|9||DOGE||Dogecoin predictions||89.2%||17||$0.071692||0.74%||1.81%||$10 007 347 652|
|10||MATIC||Polygon predictions||80%||35||$0.893847||0.39%||0.86%||$8 294 424 384|
|11||SOL||Solana predictions||80%||29||$20.71||0.55%||7.01%||$8 214 229 812|
|12||WTRX||Wrapped TRON predictions||80.8%||37||$0.074826||-0.77%||-3.49%||$7 608 018 393|
|13||LTC||Litecoin predictions||77.6%||37||$94.21||5.89%||10.62%||$6 881 721 612|
|14||TRX||TRON predictions||78.4%||33||$0.074853||-0.76%||-3.71%||$6 753 192 726|
|15||DOT||Polkadot predictions||87.2%||11||$5.23||-1.35%||-0.75%||$6 224 984 176|
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