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Solana SOL

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1. Summary

Fundamental Rank
Developer Rank
Social Rank
Coinrank
Price
$128.02 -9.0%
Market Cap
$37.75B (#6)
Supply
297.28M / 488.63M
Description

Solana is a quick and secure censorship-resistant blockchain intended to provide an open infrastructure deemed as a requirement in regard to global adoption. It is an open-source project and provides decentralized finance (DeFi) solutions.

Solana is a quick and secure censorship-resistant blockchain intended to provide an open infrastructure deemed as a requirement in regard to global adoption. It is an open-source project and provides decentralized finance (DeFi) solutions.

The Solana Protocol is designed to help facilitate decentralized applications (dApps) development, with the intention of improving the scalability, through introducing a proof-of-history (PoH) consensus mechanism that is combined with a proof-of-stake consensus (PoS) in the blockchain itself.

Solana essentially solves high fees as well as transaction times through the combination of both consensus mechanisms.

The SOL Token Explained

The SOL token is the native currency that is used on Solana. In terms of its functionality, it is used for paying transaction fees on the Solana Network, and tokens are burned with each transaction, where the Solana token holders can stake their Sol in order to become a validator node.

Features of The Solana Project

Solana features certain key functionalities and features that make it stand out when compared to other projects out there.

  • Tower BFT – This is a feature that improves responsiveness by allowing the validators on the network to vote on the state of the ledger.

  • Gulf Stream – This is a feature that allows the network to forward the transactions to validators before the current block of transactions is finished with approvals, with the end goal of improving confirmation times and reducing memory pressure on validators.

  • Sealevel -This is a feature that provides the network with the function to execute smart contracts in parallel. It is the only chain that supports it in a single shard.

  • Pipelining – This is a function that allows for efficient optimization of transaction validation. It essentially assigns a stream of input data, and this data is processed through sequential steps with separate hardware for each individual step.

  • Turbine -This is a type of technology that can take data and break it into smaller pieces. This results in less bandwidth usage.

  • Cloudbreak – This is the network’s account database.

  • Archivers – These can be seen as hardware storage mechanisms that enable quick access to the information stored on the network itself.

Founders of Solana (SOL)
The Solana Project was founded by Anatoly Yakovenko, who originally worked at Qualcomm where he started his career and moved up the ladder to become a senior staff engineering manager. Throughout time, he transitioned to become a software engineer at Dropbox. In 2017, he started working on a project, that would, over time, become Solana. To do this efficiently, he sought out the help of Greg Fitzgerald, a former colleague at Qualcomm, where they founded Solana Labs.

2. Price

$SOL / USD

2.1. Market Performance

How does Solana's (SOL) performance compare to assets of a similar market capitalization?

30 Day Return

68.2%

SOL

21.2%

Similar Market Cap

60 Day Return

358.0%

SOL

163.6%

Similar Market Cap

1 Year Return

3,912.0%

SOL

1,569.9%

Similar Market Cap

3. Developer Activity

We're monitoring 89 Solana Github repos for commits, code additions and deletions. This data is factored into the Developer Rank.

Weekly Commits (All Solana Repos)

Commits vs. The Market

  • Past 4 weeks: 407 commits vs. an average of 40
  • Past 12 weeks: 1,050 commits vs. an average of 144
  • Past year: 14,472 commits vs. an average of 980

Most Active Repos

Past week 0
Past 12 weeks 0
Past year 6446
Past week 0
Past 12 weeks 0
Past year 4750
Past week 205
Past 12 weeks 676
Past year 3227
Past week 46
Past 12 weeks 127
Past year 772
Past week 136
Past 12 weeks 448
Past year 729
Past week 37
Past 12 weeks 54
Past year 644
4. Social Activity
Reddit Subscribers 63,955
Active Reddit Users (past 24h) 513
Telegram Users 101,817
Twitter followers 643,103
5. News
6. More Information

Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:

Website https://solana.com/
Explorer https://explorer.solana.com/
Twitter @solana
reddit /r/solana
Forum https://docs.solana.com/
Whitepaper https://github.com/solana-labs/whitepaper/blob/master/solana-whitepaper-en.pdf
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