What is Solana (SOL)?

Solana is a decentralized blockchain that aims to provide scalable and user-friendly applications to the world. It is the fastest blockchain and the fastest-growing ecosystem in the crypto field, with more than 400 projects covering Defi, NFT, Web3, etc.

Solana’s scalability ensures that transactions fee between developers and users remain below $ 0.01. Solana is all about speed, with a lock time of 400 milliseconds. It gets faster when the number of users Increases more. Solana is not only super fast and inexpensive, but it is also censorship-resistant. In other words, the network will remain open, applications can run freely, and transactions will never stop.

Scale for Global Adoption

Never worry about scaling again when you integrate once. How to maintain a single global state as the network scales? For that, It must ensure compatibility between ecosystem projects. Don’t deal with fragmented Layer 2 systems or sharded chains.

Solana Foundation

The Solana Foundation is a non-profit organization based in Zug, Switzerland, dedicated to the decentralized development and security of the Solana network.

Solana Foundation Delegation Program

Independent validators form the backbone of the Solana network. The Foundation of Solana strives to support the development of this community while fostering high-performance, decentralized and secure node operations. To achieve these goals Solana Foundation has committed to strategic delegating stake from its treasury in an effort to boost the decentralization of the network. Validators who prefer to apply for the Solana Foundation delegation program could also be eligible for the Solana Foundation’s participation delegation.

Validator nodes must fit certain performance and decentralization standards in order to be commissioned by the Solana Foundation. Dynamically adjust the commission size based on the performance of the qualified validator. You can apply by going to their website.

Server Program

Access the server at a discounted price through your partner’s monthly contract. An optional base program that helps you bootstrap your network. they are currently working on it and will be available in the coming months or years.

Stake Pool Program

Stake pools are a liquid staking solution that raises censorship resistance, decentralization, and the increase of Decentralized finance (DeFi) applications on Solana.

Overview

By staking tokens to at least one or more validators, SOL token holders can earn rewards and help secure the network. Rewards for staked tokens support the present rate of inflation, the whole number of SOL staked on the network, and a private validator’s uptime and commission (fee).

Stake pools are an alternate method of earning staking rewards. It allows SOL holders to stake and receive rewards without managing stakes.

Censorship Resistance

They are regularly working to make the Solana protocol the most censorship-resistant network in the world.

  1. In this Network, anyone can be part of it to secure its Network as a validator. This foundation supports new and old validators to keep high-quality operations through the incentive structure of our organization’s program.
  2. Validator and RPC node operators can participate in our server program to locate their operations in data centers spread around the world.
  3. Token holders and community members can easily participate in stake pools and increase the censorship resistance of the network while earning tokens at the same time.

Special Features of Solana

Solana blockchain has many Important features: the PoH technology to start. aside from that, there are other two stands out feature:
1. Sealevel
2. Gulf Stream

The Sealevel feature helps to identify non-overlapping transactions and processes them at the same time on the Solana network.

Gulfstream allows you to meet a handful of future leaders so that they can already begun to accumulate transactions before they start producing blocks.

Price Analysis of Solana

Solana was launched in March 2020, and the token hit the market at a price of 1$USD per SOL. SOL launched on Binance quickly still did not have a bullish effect on the price as it flowed down to around 60 cents USD. SOL continued within the 60 cents-$1 range until July 2020.

Solana launched on the popular cryptocurrency derivatives exchange FTX, and Serum in July. It helped Solana’s price to shoot up to $5 in the following month. The price settled for $3 most of the year.

Figure: Solana(SOL/USD) to USD 30 days chart (As of this writing)

In the bullish run end of 2020, Solana reached $16.9 on the 24th February 2021 from $1.5 on Jan 1. Solana native token $SOL currently trades at around 191$ and has a market capitalization of $56,048,048,793 which makes it the 6th largest cryptocurrency.

Key Integrations for Solana

Solana proposes an innovative hybrid consent model. Because of this, Solana has interest from both small-time traders and institutional traders.

Some of Solana’s most famous partnerships and integrations occurred in 2020. The project cooperates with companies such as Chainlink, Circle, Audius, Akash, Arweave, Tether, and Terra.

Solana implemented the PoH consensus mechanism and innovations such as Tower BFT, Proof of Copy, Sea Level, and Mexico Gulf Stream. This combination makes Solana one of the highest-performing blockchains in the world.

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