Market Cap
$11,140,571,283.44
Volume (24 H)
$1,367,461,566.47
SOL with marketcap of BTC
$1,112.7383
Solana / U.S. Dollar Tweet Timeline of CryptoDale

SOL Sentiment Score of CryptoDale

Tweets

About Solana

What Is Solana (SOL)?

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.

To learn more about this project, check out our deep dive of Solana.

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.

Who Are the Founders of Solana?

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.

What Makes Solana Unique?

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 7 in the CoinMarketCap ranking as of September 2021.

This came on the back of an impressive bull run, where Solana price gained over 700% since mid-July 2021. The launch of the Degenerate Ape NFT collection sent SOL price to an all-time high (ATH) above $60, and it has been climbing since, largely due to higher developer activity on the Solana ecosystem, greater institutional interest, growing DeFi ecosystem, and the rise of the NFTs and gaming vertical on Solana. Solana price rose to an ATH of $216 on Sept. 9, 2021.

Related Pages:

Read more about Steem.

Check out Marlin.

Learn more about Decentralized Finance (DeFi).

Curious about the crypto space? Read our educational section — Alexandria.

Want to keep track of Solana prices live? Download the CoinMarketCap mobile app!

Want to convert Solana price today to your desired fiat currency? Check out CoinMarketCap exchange rate calculator.

How Many Solana (SOL) Coins Are There in Circulation?

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 price during the initial seed sale, held on April 5, 2018, was $0.04. Given the recent ATH, that represents an impressive 5400X return on investment (ROI).

How Is the Solana Network Secured?

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.

Where Can You Buy Solana (SOL)?

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, $753,103,225 as of September 2021.

Next is Coinbase, with a trading volume of $343,872,841. Other options to trade Solana include FTX, 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.

To check Solana price live in the fiat currency of your choice, you can use CoinMarketCap’s converter feature directly on the Solana currency page, or the dedicated exchange rate converter page. Popular Solana price pairs include: SOL/USD, SOL/GBP, SOL/AUD, SOL/JPY and SOL/EUR.

Latest News On Solana

Coinbase Adds Solana Staking Rewards—With Higher Return Than Ethereum - Decrypt

Coinbase Adds Solana Staking Rewards—With Higher Return Than Ethereum DecryptCoinbase Adds Support for On-Chain Polygon and Solana Transactions CoinDeskCoinbase launches Solana staking (NASDAQ:COIN) Seeking AlphaPolygon Vs. Solana - What's the Difference? Securities.ioCoinbase Ignites Crypto Rallies After Listing Several Altcoins Built on Ethereum and Solana The Daily HodlView Full Coverage on Google News

Wed, 29 Jun 2022 21:31:27 GMT

Solana Could Emerge as the Silent Winner of the Crypto Bloodbath - Analytics Insight

Solana Could Emerge as the Silent Winner of the Crypto Bloodbath Analytics InsightCrypto Strategist Warns Solana (SOL), Polygon (MATIC) and One Additional Altcoin Primed for Pullbacks The Daily HodlHow To Buy Solana NasdaqSolana Price Prediction: Will SOL Start a Recovery Soon? InvestingCubeTop 3 Reasons to Buy Solana TODAY! Exciting Future Ahead... CryptoTicker.io - Bitcoin Price, Ethereum Price & Crypto NewsView Full Coverage on Google News

Thu, 30 Jun 2022 04:41:06 GMT

Chia Aims to Take on Ethereum, Solana With NFTs. Will They Blossom? - Decrypt

Chia Aims to Take on Ethereum, Solana With NFTs. Will They Blossom? Decrypt

Wed, 29 Jun 2022 10:01:03 GMT

Crypto markets in red; Solana plunges 8%; Bitcoin at $20,000 - Business Today

Crypto markets in red; Solana plunges 8%; Bitcoin at $20,000 Business Today

Thu, 30 Jun 2022 03:48:52 GMT

Solana is making a crypto phone with help from former Essential engineers - The Verge

Solana is making a crypto phone with help from former Essential engineers The Verge

Thu, 23 Jun 2022 19:17:26 GMT

Solana’s Macalinao Brothers Double Down on Crypto Venture Fund - CoinDesk

Solana’s Macalinao Brothers Double Down on Crypto Venture Fund CoinDesk

Mon, 27 Jun 2022 22:03:00 GMT

Chronoly (CRNO) Could Be The Next Solana (SOL) | Bitcoinist.com - Bitcoinist

Chronoly (CRNO) Could Be The Next Solana (SOL) | Bitcoinist.com Bitcoinist

Mon, 27 Jun 2022 08:16:32 GMT

Solana’s Biggest DeFi Lender Almost Got Rekt. Then Binance Stepped In - CoinDesk

Solana’s Biggest DeFi Lender Almost Got Rekt. Then Binance Stepped In CoinDesk

Mon, 27 Jun 2022 20:29:00 GMT

The Next Big Cryptocurrency Altcoins: Gnox (GNOX), Avalanche (AVAX), and Solana (SOL) - Analytics Insight

The Next Big Cryptocurrency Altcoins: Gnox (GNOX), Avalanche (AVAX), and Solana (SOL) Analytics Insight

Sat, 25 Jun 2022 16:36:39 GMT

The SEC’s Chair Makes Game-Changing Crypto Statement As Price Of Bitcoin, Ethereum, BNB, XRP, Terra’s Luna, Solana, Cardano, Dogecoin Turn Mixed - Forbes

The SEC’s Chair Makes Game-Changing Crypto Statement As Price Of Bitcoin, Ethereum, BNB, XRP, Terra’s Luna, Solana, Cardano, Dogecoin Turn Mixed Forbes

Wed, 29 Jun 2022 11:35:28 GMT
3.6%
Average Weekly ROI
19.7%
Average Monthly ROI