Solana is defined as a layer 1 blockchain (Layer 1), that is, it is a basic network like many others. Its main objective is to generate greater scalability and accessibility for all users in the crypto world.
This coin uses the PoH protocol, or better known as proof of history: a consensus mechanism used in block processing to facilitate the task of network nodes, which provides a method of encoding time in the Blockchain.
In this way Solana you do not need confirmation of the entire network before proceeding with block validationsince the PoH protocol offers an important progression in relation to how networks are structured and in terms of speed or scalability.
Why Solana is successful
The promise cryptocurrency has different positive aspects that attract the attention of users and that position it as one of the main competitors of Ethereum.
- Transactional speed: it is the fastest blockchain in the world, it has block times of 400 milliseconds, and as the hardware gets faster so does the network.
- More transactions per second: records a total of 65,000 transactions per second (TPS). This avoids congestion and delay in transactions.
- Low cost per transaction: its scalability allows your transactions to remain below $0.01 at all times, for both developers and users.
- Decentralization: Its goal is decentralization. The network will be open so applications are running at all times and transactions never stop.
- Overall Scale: once applications (dApps) are integrated into your network, Solana guarantees compatibility between projects. In this way it maintains a global and solid network as it grows.
Solana today maintains a high value perspective, with a lot of growth potential. If digital asset prices continue like this, it would not be a surprise to see Solana still rising, considering that it has an active developer base and that its growth during 2021 far exceeded investor expectations.
At current valuations, SOL would need to trade at around $350 per token so that its market capitalization reaches 100,000 million dollars.
Source: Ambito
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