Insight

Solana Price Hitting Higher Highs

In the crypto world, the difference-maker for a speculator is always information. Current information on the latest spikes and names to watch out for significantly help to change your projection by a long shot. For a while now, some big names in the Crypto world have been on a tight contention run and this has sponsored a smoking rivalry between Ethereum and Solana.

Solana (SOL) is a highly functional open source project that banks on blockchain technology’s permission-less nature to provide decentralized finance(DeFi) solutions.  is the desire of any creator to see their product grow and Solana has been doing just that in the past few weeks? It experienced some tremendous growth with a spike of almost double its starting price at the beginning of the week

Solana is a highly functional open source project that banks on blockchain technology’s permission-less nature to provide decentralized finance (DeFi) solutions. While the ideas and initial work on the project began in 2017, Solana was launched in March 2021 by the Solana Foundation with the helms of the affair at Switzerland Geneva. The big brain behind the Solana masterpiece is Anatoly Yakovenko who started working on a project in 2017 which materialized as Solana. He joined heads with his colleague Greg Fitzgerald and with a lot of work, Solana was released to the public in 2020. This is why it is amazing how it has grown exponentially to this point.

The coin was formally priced a little under $40,000 one week ago and now has spiked up to 96% to the new all-time high. Many curious enthusiasts have raised questions as to what’s special about this ‘newbie’ in the market and you’d be impressed to know the answer. Solana provides the Proof of history(POH) consensus developed by Anatoly Yakovenko and this boosts the user experience by allowing for greater scalability of the protocol.

Solana is known for certain characteristics and these features make for an amazing coin. Solana has an incredibly short processing period and its hybrid protocol allows for nicely decreased validation duration both for transactions and smart contract execution. Many individuals have had terrible experiences with different coins for different reasons and this has led some to develop individual checklists for what they want in a coin. Usually among requests of many individuals as well as institutions is a super-fast processing time and Solana has Solanahis to their advantage in pulling the love of many.

At the moment Ethereum is an established blockchain with wide recognition and currently, it sits as one of the leading smart contract platforms but with the entry of Solana Ethereum would have to watch its back as (SOL) can hatch a larger volume of transactions than Ethereum ( up to 2,000 times more).

Solana is currently on a success roll as it shows a lot of potentials with its abilities and countless offers for impressive smart contract experiences as well transactional ease. It’s is no doubt something interesting to watch out for.

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