- Solana is a modern blockchain that uses modified cryptographic algorithms to create a fast and scalable blockchain.
- Solana has gained mainstream acceptance within a short time, and its speed and transaction fees are attractive features.
- The crypto token that runs on Solana’s blockchain is called Solana (SOLUSD) with the ticker symbol SOL, which has increased by 12,000% since 2021.
Introduction to Solana
Since the advent of Blockchain technology in 2009, which gave rise to the first decentralized digital currency – Bitcoin – blockchain tech has grown in leaps and bounds. In the early stages, this novel tech was just a secure computer network used to exchange digital currencies. Presently, it has evolved into an ecosystem where other blockchains are built, maintained, or advanced upon. At the time of writing this article, there are several types of blockchains available for public use, and each carries out and stores unique transactions. Also, blockchain provides several other services which help meet the needs of the ever-increasing network users.
Solana is one such modern blockchain that differs significantly from the Bitcoin network. It makes use of modified cryptographic algorithms to create a fast and scalable blockchain suitable for hosting decentralized applications. The project was launched by Solana Foundation in 2017 but was developed by San Francisco based Solana Labs.
Features of Solana
One unique feature of Solana is its speed; it processes transactions faster than most cryptos available today. Another attractive feature is its transaction fees which are significantly lower than those charged on rival projects like Ethereum. The crypto token running on Solana’s blockchain is called Solana (SOLUSD) with the ticker symbol SOLUSD; it has been increasing astronomically from 2021 till date with its market cap reaching $66 billion at some point making it 5th largest crypto in terms of market cap size. Despite facing bearishness presently in the crypto market due to various reasons beyond our scope here; investors still believe that there is still a great future ahead for this project as indicated by data sourced from Coinmarketcap showing current selling price at $20.80 per token.
Pikamoon: A Potential Rival to Solano?
Investors have started looking into other cryptos with potentials such as Pikamoon whose predictions suggest that it might pump faster compared to Soloano this year according Coincodex reports released recently . However more research needs to be done about this new project before any conclusions can be made about its potential growth over Soloano’s future projections .
In conclusion , despite bearishness currently observed across cryptocurrency markets ; investors remain optimistic about Soloano’s future prospects as indicated by various sources . As more research continues to be done about emerging projects like Pikamoon , we can only wait patiently for more insights regarding these two projects regarding their individual growth paths going forward .