Solana is a high-speed, open-source project based on blockchain designed to create decentralized applications (DApps) and provide DeFi solutions. In just one year, the innovative Solana project was able to enter the top 15 crypto assets, and the annual price growth was 2639.6%. What is the essence of such a stunning success? We invite you to get acquainted with the project in our brief review.
What is Solana (SOL)?
The distinctive features of the coin are high transaction processing speed and scalability. The technology allows you to solve the problem of fast and reliable confirmation of the sequence of transactions through a combination of Proof-of-History, Tower BFT and Proof-of-Stake consensus mechanisms. The developers claim that their innovations allow you to safely scale any business to billions of users and devices around the world without sharding and Layer 2. Solana, according to the developers of the project, can actually process up to 50 thousand transactions per second. At the same time, the size of network fees is minimal: up to $10 per 1 million transactions.
Why should I trade Solana?
In 2021, when interest in altcoins has acquired an unprecedented scale, the Solana project is one of the most promising and profitable. Let’s look at the main reasons to trade SOL:
- Experts, based on assumptions about increasing interest in innovative Solana technologies, predict a further increase in demand for cryptocurrency and an increase in its price.
- The project is new, but it has already managed to break into the top 15 according to the CoinMarketCap rating.
- The project was launched in March 2020 and since that time has rapidly increased in price by 1815.2%. Further price growth is predicted, so hurry up to buy SOL at a favorable price.
The price of the Solana cryptocurrency as of July 21, 2021 was about $25, and the market cap is $6,927,585,844. Like any asset, SOL is extremely volatile. Until March 2021, the quotes remained relatively stable, but then there was a sharp increase and on May 18, 2021, it hit its all time high of $58.
Where to exchange Solana
The SOL cryptocurrency has already been listed on many reputable and reliable crypto exchange platforms:
- Binance – an exchange compares favorably with other trading platforms in terms of the minimum deposit, fees charged, as well as security and a set of trading tools.
- OKEx – an exchange with large trading volumes. Trading fees are relatively low and are formed on the maker-maker principle and depend on the trading volume for 30 days.
- 7b – a broker powered by Binance, therefore it is as reliable and secure as possible. Supports more than 400 coins and 2000 trading pairs. You can buy or sell SOL at the most competitive rates on the market.
How to exchange Solana using the 7b crypto broker app?
For a safe and fast exchange of SOL, just follow the simple steps:
- Download 7b from Google Play.
- Log in to your account.
- Select a trading pair, for example, BTC/SOL.
- Set the transaction amount.
- Click “Buy”.
FAQ
Is Solana a good investment?
Yes, the project is still quite young, but it is extremely promising. If SOL meets expectations and provides the infrastructure needed for global adoption, it will not remain cheap for long.
How do I invest in Solana?
Choosing SOL as an investment, take care of selecting a reliable wallet. You can buy coins through exchanges or brokers. On 7b, simply select SOL from the list, enter the amount you want to receive, and expect the coins to be transferred to your account.
How to trade Solana for beginners?
Trading in any case entails risks for everyone, despite the prospects of the project. Therefore, it is important to take care of the correct distribution of funds, independently conducting a market analysis and choosing the best crypto assets. The trading process is quite simple on 7b, select a pair of crypto assets that you want to exchange, enter the amount, approve the transaction.
What is the Solana Blockchain?
Solana is a blockchain designed to support scalable decentralized applications (DApps). It has a maximum bandwidth of more than 50,000 TPS and a block time of only 400 ms.
