Solana SOL/USD is a blockchain platform specifically designed for the process of hosting decentralized as well as scalable applications. It is based on the Proof-of-Stake (PoS) consensus model and uses Proof-of-History (POH) as its model.
SOL is the native cryptocurrency token that powers the Solana blockchain.
Solana’s low transaction fees, scalability, and ease of use as catalysts for growth
On January 10, we discussed how Solend could reshape the Solana lending ecosystem.
Bank of America’s digital asset strategist, Alkesh Shah, said on Business Insider that Solana could become the “Visa of the digital asset ecosystem” through a research note.
Since the launch of the Solana network in 2020, the SOL cryptocurrency token has managed to grow into one of the largest cryptocurrencies in terms of market capitalization.
Shah suggested that Solana is taking a slice out of Ethereum’s market share thanks to its low fees, ease of use, as well as scalability. Ethereum, on the other hand, is relegated to high-value transactions and identity, alongside storage and supply chain issues.
Visa processes an average of 1,700 transactions per second (TPS), while the network can theoretically handle 24,000 TPS.
Ethereum currently handles 12 TPS on the mainnet, while Solana has a theoretical limit of 65,000 TPS.
Should you invest in Solana (SOL)?
On January 13, 2022, Solana (SOL) had a value of $151.72.
To get a better perspective as to exactly what this value point means for the SOL token, we will go over its ATH point of value as well as its recent performance.
Solana (SOL) had its all-time high value on November 6, 2021, when the token
