Capitalization has brought huge changes to the economy. Cryptocurrency is still one of the best inventions of humankind. The functionality of crypto has been proven over and over again. With different currencies emerging like bitcoin, Ethereum etc., Solana is another major crypto at present.
Solana is a relatively new block chain network that was introduced in 2020. Their coin, SOL is quite in the business. It was believed to become a huge competitor to Ethereum. Before you buy Solana, you might want to know a few things.
- Growth: The crypto is seen as one that has extreme potential to grow. In the last two years, it grew a considerable amount. It quickly found its place among major crypto apps and exchange platforms.
- Competition: A major competition to Solana was Ethereum. This was not without reason. Ethereum is considered the world’s second largest crypto. But when people preferred a change of pace, Solana was at their service.
- Model: Unlike bitcoin, Solana employs a proof of history model of transactions. It adds timestamps to their transactions making the process quicker.
- Projects: Even though it is relatively new, Solana has over 350 projects worldwide which is a considerable number.
- Cheap: Another major feature of using Solana is that they offer cheaper transactions. Solana miners are not as pricey as that of Ethereum. Also, the technology used for Solana is faster. So, if you wish to buy Solana, keep this in mind.
Despite Ethereum’s unwavering presence, SOL has managed to stand fourth in the world of cryptocurrencies. This is no easy task. It is definitely a wise decision to invest in Solana if you are planning on buying stocks or crypto coins. It has made its way to the top becoming one of the buzzing presences, amongst the titans like bitcoin and Ethereum. Make educated choices when investing in crypto.