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Solana (SOL) Market
Price today: $ 199.80
Solana is a highly functional open source protocol that relies on blockchain technology of a non-permitted nature to provide solutions for decentralized finance (DeFi). Read more
What is Solana (SOL)?
Solana is a third-generation blockchain, just like Cardano (ADA) or Polkadot (DOT), which is introducing different operating methods than those used by blockchains like Bitcoin or Ethereum.
Designed to facilitate the creation of decentralized applications (DApps), it proposes to achieve high scalability by introducing Proof-of-History (PoH) consensus combined with a Proof-of-Stake (PoS) consensus layer in its blockchain. It can reach up to 50,000 low-cost transactions per second, and allows the creation of smart contracts.
Market info
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Ranking
9
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Market cap
$ 95,748,884,879
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Circulating Supply
BTC 343,277,567
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Volume last 24 hours
$ 1,523,742,653
Solana
USDT 199.80
5.16%
Updated at
FAQ: Frequent asked questions about Solana (SOL)
What is Solana for?
Solana, in addition to its capacity for low-cost and high-speed transactions, allows the creation of new Tokens, decentralized applications and smart contracts. This means that developers can migrate from other protocols like Ethereum, Cardano, Binance Smart Chain, etc. to Solana. And since Solana also supports smart contracts, this means that NFTs are also possible among a multitude of things that are also possible in other blockchains.
Is it possible to mine Solana?
There is no mining in Solana as it is not a Proof-of-Work (PoW) consensus, but it uses Proof-of-Stake, where SOL token holders can delegate their units to a validator and earn rewards .
How to buy Solana?
You can buy Solana (SOL) at any exchange that owns the currency. Monnos is a Cryptobank with a large amount of cryptos available for trading, with more than 70 assets listed in our market. The cryptocurrency purchase process was made for those who do not yet have experience in this market and who wish to position themselves in crypto.
Is Solana an alternative to Ethereum?
Solana is an alternative to Ethereum, but its network is relatively new, which opens up many gaps for failures. Solana has yet to prove itself, pass many scalability and security tests. But its future is bright and one day, who knows, it may debunk the throne of Ethereum as the main protocol of smart contracts or come close to it.
