![]() While sporting several benefits, such as a high degree of security and fast verification times, PoH has several disadvantages as well. Proof-of-History is a cryptographic technique that uses the passage of time between two events to produce timestamps which can be used to verify the state of the ledger before new blocks are generated, according to the project’s whitepaper. Solana has emerged as one of the fastest blockchain systems in the industry, using a combination of PoS and PoH consensus mechanisms to reach a congruence about the state of the ledger among network participants. Solana is a smart contract blockchain network launched in March 2020, following an initial coin offering (ICO) that raised $1.76 million. Ukrainian-born software engineer Anatoly Yakovenko first envisioned Solana in late 2017.The Solana network is powered by the SOL token, which is the network’s native utility token used for gas fee payments and staking purposes.Solana uses Proof-of-Stake along with a Proof-of-History consensus algorithm to facilitate and verify transactions.The network boasts sub-second transaction finality, low fees, and a theoretical output of more than 700,000 TPS.The network was launched in March 2020 after a series of private and public token sales raised over $25 million.Solana is a smart contract blockchain network that allows users to deploy decentralized applications and launch fungible as well as non-fungible tokens.Here’s a quick overview of key facts about Solana and its core blockchain features: Theoretically, Solana’s blockchain architecture could facilitate up to 710K transactions per second (TPS).ĭue to the exceedingly high throughput, low fees, and sub-second average block time, the Solana blockchain has emerged as one of the most popular platforms for non-fungible token (NFT) and decentralized application (dApps) use cases, making it one of the primary competitors to Ethereum. ![]() Solana is a high-performance permissionless blockchain using the Proof-of-Stake (PoS) consensus algorithm in conjunction with the Proof-of-History (PoH) mechanism to achieve high throughput without sacrificing the network's security. In terms of market cap, Solana is currently ranked #4 in the Proof-of-Stake Coins sector, ranked #2 in the Solana Network sector and ranked #7 in the Layer 1 sector. The current yearly supply inflation rate is 13.43% meaning 42.98M SOL were created in the last year. Solana's current circulating supply is 362.91M SOL out of max supply of 533.68M SOL. The Solana price prediction sentiment is currently bearish, while Fear & Greed Index is showing 51 (Neutral). The highest SOL price since the last cycle low was $ 27.16 (cycle high). The lowest price since it's ATH was $ 8.12 (cycle low). Solana reached its highest price on when it was trading at its all-time high of $ 259.52, while Solana's lowest price was recorded on when it was trading at its all-time low of $ 0.503701. The SOL price increased 6.97% in the last 24 hours. Solana price today is $ 23.47 with a 24-hour trading volume of $ 1.05B, market cap of $ 8.52B, and market dominance of 0.78%.
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