How to Buy Solana

Solana is steadily becoming one of the most talked about Cryptocurrencies of 2021 and at the time of writing is in the top 15 Crypto currencies by Market cap. is steadily becoming one of the most talked about Cryptocurrencies of 2021 and at the time of writing is in the top 15 Crypto currencies by Market cap.

solana-market-cap

It has been around for less than a year, but it’s already making waves in the crypto world. If you’re wondering how to buy Solana, read on to find out more about what this coin does and why it might be worth your time.

Solana is fast and is censorship-resistant blockchain, one of it’s key features is its low fees. The Solana Foundation is based in Geneva, Switzerland. Solana was created as a solution for scalability problems with Bitcoin and Ethereum .

What Is Solana (SOL)?

Solana is a distributed web-scale blockchain that offers fast, scalable, secure and decentralised applications. Solana’s Proof-of-History (PoH) consensus algorithm helps make the network more efficient and increase throughput. Historical records of events or transactions allow the system to easily keep track of transactions by tracking their ordering and time, allowing for a greater number of transaction per second to be processed.

“Solana will be the future of Web3.0. Everything you can think of, including any payment processing system, credit card networks, big bank deals, getting loans, stock exchanges, NFTs, Internet of things, 5g micropayments, cloud computing, energy tracking, supply chain tracking, identity tracking, video streaming, gaming, artificial intelligence, taxes etc. will be based on Solana.” Via Reddit

Who Are the Founders of Solana?

Anatoly Yakovenko - the most experienced person behind Solana- is also now it’s CEO

Anatoly Yakovenko - who has been a core part of this project from the beginning and is a co-founder. His professional career started at Qualcomm, where he quickly progressed and became a senior staff engineer manager in 2015. Yakovenko later on found success as a software engineer at Dropbox. Raj Gokal is a Solana Co-founder and has been active on Reddit forums recently.

What Makes Solana Unique?

One of the most innovative aspects of Solana is our Proof-of-History (PoH) consensus algorithm. This innovation allows for increased scalability and scalability increases usability.

Solana is famous for its speedy transaction times. Solana’s protocol offers faster validation time not just for transactions but also smart contracts. The new and improved processing speed attracted enough interest to catch the eye of major institutional players like Goldman Sachs. The Solana Blockchain is the fastest Blockchain in the world. The Solana Blockchain processes 50,000 Transactions Per Second.

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

The Solana Foundation has issued 489 million SOL tokens, of which 260 million have already entered circulation.

66.10% of the tokens will be allocated to the sale, 12.92% has been set aside for the founding members and 10.46% is going towards the foundation The remaining tokens are available for public or private sale or they have yet to be released on the market.

How Is the Solana Network Secured?

Solana relies on a unique combination of proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms.

Solana’s White Paper

The Solana White paper was published in November 2017, with the Mainnet Beta launch in March 2020. By April 2020 the Solana Foundation was established.

https://solana.com/solana-whitepaper.pdf