Buy Solana (SOL), it’s easy!

Why Buy Solana (SOL)?

Consider buying Solana (SOL) if you are seeking a well-established and reliable blockchain project with a large number of active users. SOL is the project’s reference cryptocurrency, serving as a utility token for paying transaction fees.

The token’s economy follows a deflationary model, ensuring its scarcity over time. By purchasing SOL, you gain the opportunity to validate network transactions, cover transaction costs for smart contracts, and engage in staking. Additionally, this cryptocurrency can be used on dApps developed on the Solana platform, which are steadily gaining traction and expanding their offerings.

Solana currently holds the fifth position among the most capitalised cryptocurrencies, with a market cap of approximately $76 billion. Its value in June 2024 stood at around $165, a notable increase compared to the previous year, during which its value fluctuated around $15 in the same month.

What It Is and How It Began

Before deciding whether to buy Solana, it’s important to note that its White Paper was published in November 2017. The project, led by Anatoly Yakovenko, currently consists of about 3,000 developers. The project’s test phase commenced in 2018 and concluded with the ICO the following year. The initial offering raised $20 million, which was used to finalise the project and launch it on top cryptocurrency exchanges. In 2021, the price of Solana surged from nearly $3 to an all-time high (ATH) of $260, making SOL one of the most appreciated cryptocurrencies among users and DeFi enthusiasts.

The Solana protocol is designed to facilitate the creation of decentralised applications known as dApps. The goal is to improve the scalability of blockchain technology through an innovative consensus mechanism. The platform uses Proof-of-Stake but integrates it with Proof-of-History, which orders transactions more efficiently.