Solana is an open-source blockchain platform created in 2017 by former Qualcomm executive Anatoly Yakovenko. The primary objective of Solana is to significantly enhance the scalability of blockchain technology, exceeding the performance of popular blockchains while keeping costs low.
Is Solana a good investment?
If you are thinking about buying Solana, just be sure you are buying Solana because it is a good long-term investment, and not just because the potential exists for short-term gains. If you are simply attempting to market time a Robinhood relisting, then you are doing it all wrong.
Why is Solana so special?
Solana offers lightning-fast transactions with the lowest transaction costs compared to all other blockchains. Its ecosystem is growing with new applications being launched daily. This is the only major blockchain that has launched its own smartphone and has partnered with Visa for USDC settlements.
What is Solana vs Ethereum?
While Ethereum can process around 30 transactions per second (TPS), Solana's architecture can handle thousands of TPS. This is achieved through its unique consensus mechanism (Proof of History) and sharding, which allows parallel processing of transactions.
Why did Solana crash?
The single sharpest percentage drop in Solana's metrics came in early November following the collapse of FTX, and mounting evidence of massive fraud by Sam Bankman-Fried.
Is Solana part of Ethereum?
Solana and Ethereum are two prominent blockchain platforms, each with its own unique features and capabilities. Comparing them is important for several reasons: Solana is often praised for its high throughput and low transaction fees, making it a more scalable platform compared to Ethereum.