|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||-2.86%||Market Cap||$8 889 364 349|
|Available supply||372 567 217 SOL|
|Volume 24h||$398 422 985|
|Updated||Sunday, February 5, 2023 1:00:03PM 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, $|
|Jan 27||24.34||23.58||24.46||8 956 759 942|
|Jan 28||24.40||23.91||24.68||8 886 660 926|
|Jan 29||23.94||23.94||26.35||9 759 033 841|
|Jan 30||26.14||23.55||26.22||8 821 093 670|
|Jan 31||23.94||23.65||24.22||8 974 122 036|
|Feb 01||23.84||22.65||24.93||9 278 902 230|
|Feb 02||25.00||24.58||25.91||9 148 930 731|
|Feb 03||24.27||24.15||24.91||9 184 968 836|
|Feb 04||24.68||24.39||24.82||9 183 357 037|
|Feb 05||24.33||23.86||24.41||8 889 364 349|
* 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||62%||76||$23 245.06||-0.67%||-1.07%||$448 215 363 984|
|2||ETH||Ethereum predictions||70.4%||57||$1 649.98||-0.90%||2.45%||$201 913 823 772|
|3||USDT||Tether predictions||94.8%||1||$1.000242||0.01%||0%||$68 081 088 023|
|4||BNB||Binance Coin predictions||78.8%||38||$330.03||0.12%||4.56%||$52 111 151 986|
|5||USDC||USD Coin predictions||93.6%||1||$0.999630||-0.04%||-0.04%||$41 975 476 278|
|6||XRP||XRP predictions||75.2%||42||$0.407147||-1.05%||-1.24%||$20 682 712 207|
|7||BUSD||Binance USD predictions||94.4%||1||$1.000002||-0.02%||-0.02%||$16 258 300 058|
|8||ADA||Cardano predictions||70%||64||$0.395468||-1.61%||1.39%||$13 686 825 295|
|9||DOGE||Dogecoin predictions||71.6%||51||$0.093562||-0.49%||4.31%||$12 412 982 136|
|10||MATIC||Polygon predictions||68.4%||67||$1.22||-0.49%||4.26%||$10 662 953 667|
|11||STETH||Lido stETH predictions||94%||1||$2 941.39||-0.40%||-3.32%||$10 258 752 564|
|12||SOL||Solana predictions||59.2%||86||$23.86||-3.04%||-2.86%||$8 889 364 349|
|13||SHIB||SHIBA INU predictions||64.8%||73||$0.000015||4.49%||21.57%||$8 029 262 331|
|14||DOT||Polkadot predictions||67.6%||66||$6.74||-2.85%||2.41%||$7 777 843 515|
|15||HEX||HEX predictions||68%||60||$0.041057||-9.25%||52.42%||$7 119 677 926|
Moonbirds contributed half a billion in trading volume in April, while Solana registered a 91% surge in NFT trading volume month over month. Solana and Moonbirds came...
SOL price gave up a chunk of its recent gains, but data shows there are strong reasons for investors to remain bullish. Solana (SOL) price reached $143.50...
The Solana layer-1 blockchain network has risen to third place all-time in total NFT sales and now sits just behind Ronin and Ethereum, each of which have a commanding lead...
SOL price enters overbought territory, but history shows that bulls are not scared of Solana‘s excessive valuations. Solana (SOL) jumped past a critical resistance...
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2023 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.