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What is Solana all about
Solana was founded in 2017 by Anatoly Yakovenko. Solana is a highly scalable blockchain which supports cryptocurrencies, smart contracts and decentralized applications. It uses proof of stake as its consensus mechanism. Solana had 5 funding rounds in which they managed to raise over $25 million.
Solana is built to maintain high throughput and high transactions per second (TPS) without relying on parallel chains or multiple blockchains (sidechains) like its counterparts which include Polkadot, Ziliqa, Lisk, and even Ethereum 2.0. This vision comes directly from their founder Anatoly who has worked with telecommunication technologies most of his time.
Solana uses Proof of History (PoH) which is an additional and proprietary component in their PoS mechanism. Solana uses ‘Verifiable Delay Function’ to prove transactions happened on their blockchain. Every transaction is embedded with a timestamp to maintain the correct sequence of transactions. Solana uses decentralized clock as a reference for the timestamps with SHA256 hash function.
There is no minimum requirement to stake Solana. Rewards of a node is directly proportional to the number of SOL tokens staked on the network. The fees received on Solana’s network are burned which keeps the token deflationary. The token has its maximum supply fixed at 500 million.
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SOL Questions & Answers
How much is Solana worth today?
Today's price of Solana is at 31.02 EUR.
What was the highest price of Solana to date?
The price of Solana peaked on 2021-11-06, at 225.04 EUR.
What is the price of Solana going to be in 1 month time?
Based on our price prediction, we suspect that the price of Solana will be anywhere between €0 and €33.84 in one month time.
How much will Solana cost 90 days from now?
Based on our price prediction algorithm we suspect that Solana's cost will be between €0 and €42.89 in 3 months time.
How much will Solana cost six months from now?
There is no easy way to make an accurate long-term prediction, however using our price prediction algorithm we suspect Solana's value is likely going to be between €0 and €56.85 6 months from now.
How popular is Solana?
148987 Reddit users took part via Reddit, in an online discussion about Solana in the last 48 hours. Solana's Twitter handle is currently followed by 1922550 users.
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