By reading the article “What Is Solana Coin” published in Adaas Investment Magazine, you will get acquainted with the SOL token and what are the risks and benefits in general. This level of familiarity can be enough for you to invest in the cryptocurrency market.
The Solana platform is a fast and inexpensive blockchain designed to provide infrastructure for smart contracts and decentralized applications.
In the blockchain industry, the three factors of decentralization, security, and scalability have the greatest impact on the performance and popularity of a platform. So far, very few blockchains have been developed that have been able to provide all three factors.
Bitcoin blockchain, for example, is very secure but has not yet solved the scalability problem. Blockchains such as Ethereum have also faced this problem, causing users to lose the platform. But Solana Blockchain has been able to solve this problem and provide a platform with fast and cheap transactions.
As you can see, first-generation blockchains have a scalability problem. Second- and third-generation blockchains, such as Polkadot, also use the Side Chain solution to solve this problem.
One of the biggest features of the Solana coin is solving the problem of scalability within the on-chain. For example, one of the solutions to increase scalability for Ethereum blockchain is to use layer-2 projects in which transactions are approved and processed outside the main Ethereum chain and finally recorded in the main chain.
In Solana Blockchain, all transactions in the main chain are processed and approved. This feature helps to increase the security of users as well as the decentralization of this platform.
Another feature that Solana coin provides is the new concepts and innovations of this platform that make this blockchain powerful. In the following, we have prepared the most important innovations of the Solana blockchain for you.
Solana Currency has developed its own workflow for the transaction approval and processing process, which is a bit complex and new. Simply put, Solana blockchain delegates various tasks to its nodes to increase the speed of transaction approval and processing, and at the same time increasing network security and decentralization.
Imagine a company with the same number of employees as the nodes of the Solana blockchain. In this company, all employees are proficient in all the required skills. For example, an employee of the finance department has the ability to work in the customer support department in the company.
At the same time, each employee may be randomly selected as the boss for a period of about 90 minutes. When they are selected for this position, they have the duty to sign and approve the company documents. All signed documents are checked by the relevant departments and if there is no error, it is registered in the database.
The Solana platform is a complex blockchain with important innovations in the areas of consensus mechanism or database structure.
To understand all the technologies used in this blockchain, you need computer and network knowledge at professional levels. In Adaas Investment Magazine, we have prepared a list of the most important innovations for you, and for a detailed study of how each one works, you can use the whitepaper of the Solana coin.
Solana Cryptocurrency uses 8 new technologies for its blockchain. These technologies include:
Solana coin has introduced its token, abbreviated SOL, to the cryptocurrency market, and this token can be transferred under the Solana blockchain.
The official documents of Solana coin indicate the maximum supply of 500 million units of SOL tokens, which after burning about 11 million units of SOL tokens, the maximum supply has reached 488,634,933 million units, currently more than 300 million units are in the market cycle.
SOL tokens allocation is as follows:
In the official documents of the Solana platform, the roadmap for the development of this platform until the end of 2020 has been published, and we have prepared the most important goals and achievements of this blockchain for you.
In 2018, the official white paper was released, a single-node and multi-node test network were released, as well as a software development kit was released.
In 2019, on-chain programs, virtual machine implementations, smart contract engines, and incentivized and multi-cloud test networks were released.
In 2020, the release of the beta version of the main network and finally the release of the final version of the main network of Solana blockchain has been done.
The development team of Solana blockchain consists of 14 people, and we will introduce the founder and co-founder of this project to you.
He is the CEO of Solana Labs.
He previously led the development team on the Qualcomm, Mesosphere, and Dropbox projects.
He is the Co founder of Solana Labs.
He is in charge of the department, product, and finance at Solana Company. It also launched Sano Medical Devices, which raised more than $ 20 million.
If you want to read all the members of Solana’s development team, you can see the official members of this company through the link below.
The Solana platform has gained the trust of many professional investors as well as small traders after proving its performance. In this article, we have introduced 4 big investors in this project for you.
To trade SOL token, users can use the following exchanges:
Also, You can visit the Solana cryptocurrency profile at CoinMarketCap.com to view the latest updates from exchanges that support this token trading and check their inventory through the following link.
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