What is Solana (SOL)?
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Solana (SOL) |
What is Solana (SOL)?
Solana is a very capable open source project. The banks on the nature Disallow technology blogs such as to provide a solution for financial distribution center ( DEFI ) , while the concept and preliminary work on the project began in 2560 Solana was officially launched in March 2563 by the Foundation Solana. which is headquartered in Geneva Switzerland
The Solana protocol, designed to facilitate the creation of decentralized apps ( DApps ), aims to improve scalability by introducing a consensus of proof-of-historic (PoH) in conjunction with a fundamental consensus of proof. evidence ( PoS ) of such blocks.
Due to its innovative hybrid consensus model, Solana has captured the attention of retail and institutional traders alike. A major focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
Who is the founder of Solana?
Anatoly Yakovenko is the most important person behind Solana. His career started at Qualcomm where he quickly promoted and became a Senior Employee Engineer Manager in 2015. Later, his career path took a turn, and Yakovenko entered. New position as Software Engineer at Dropbox
In 2017, Yakovenko began working on a project that later took shape as Solana. He collaborated with Qualcomm colleague Greg Fitzgerald, and they founded a project called Solana Labs, attracting several former Qualcomm colleagues in the process, the Solana protocol. And the SOL tokens were released to the public in 2020.
What makes Solana unique?
One of the key innovations that Solana introduced is the proof-of-historic consensus (PoH) developed by Anatoly Yakovenko. This concept allows for greater scalability of the protocol. This will increase usability.
Solana is known in the digital currency space because of the incredibly short processing times that the blockchain offers . Solana's hybrid protocol reduces the verification time for both transactions and execution. according to smart contract With its fast processing times, Solana has also attracted the attention of many institutions.
The Solana protocol is intended to serve both small and corporate users. One of Solana's main promises to its customers is that they won't be surprised by increased fees and taxes. The protocol is designed in such a way that transaction costs are low while also ensuring scalability and fast processing.
Together with long-standing professional creators Anatoly Yakovenko and Greg Fitzgerald brings Project Solana to 42nd place in the CoinMarketCap ranking as of February 2021.
How many Solana (SOL) coins are in circulation?
The Solana Foundation has announced that 489 million SOL tokens will be released in circulation. Currently, approximately 260 million have entered the market.
The distribution of SOL tokens is as follows: 16.23% to the initial seed sale, 12.92% of the tokens are dedicated to the founding sale, 12.79% of the SOL tokens are distributed to the team members and 10.46% of the tokens are distributed. The tokens were awarded to the Solana Foundation . The remaining tokens have been released for public and private sales. or is still on the market
How secure is the Solana network?
Solana relies on a unique combination of proving-historical (PoH) and proven-stakeholder ( PoS ) consensus mechanisms.
Proofreading is a key component of the Solana protocol as it is responsible for processing a large number of PoH transactions, a record of successful operations and time elapsed between them. Therefore, it can be assured that the blockchain will have an unreliable nature.
The proof-of-stake (PoS) consensus is used as a validation tool for the PoH process and it checks each sequence of blocks generated by this process.
The combination of two consensus mechanisms makes Solana a unique phenomenon in the blockchain industry.
Where can I buy Solana (SOL)?
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If you're new to cryptocurrencies, use CoinMarketCap's easy guide.
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