Buy Solana (SOL), it’s easy!

What is Solana? Learn how it works and allows for the creation of decentralised apps, discover the price and value of SOL tokens

What is Solana?

The Solana protocol is designed to facilitate the creation of decentralised apps, also known as Dapps. Solana’s goal is to improve the scalability of blockchain technology through an innovative consensus system for transactions. The platform uses Proof-of-Stake, but integrates it with Proof-of-History, a mechanism that orders transactions more efficiently.
Just like Ethereum, Solana also allows the development of Smart Contracts, but costs a lot less and is carbon neutral. Possible applications range from NFTs and DeFi services to entertainment and gaming.

Why buy Solana?

The primary crypto is SOL, a utility token that is used to pay the transaction fees on Solana’s blockchain. The economics of the token are based on a deflationary model, which ensures the scarcity of Solana tokens over time. Those who buy SOL can validate network transactions, pay transaction fees for smart contracts and stake it to receive rewards. SOL can also be used on apps built on Solana, which are always growing in terms of usage and offer.

How was it created?

Solana’s white paper was published in November 2017. The staff behind the project was – and still is – led by Anatoly Yakovenko. The testing phase started in 2018, and ended with the ICO in the following year. An initial offering that raised 20 million, which was spent to finalise the project and debut on the best cryptocurrency exchanges. In 2021, Solana’s price went from almost $3, to the ATH of $260, becoming one of the most popular cryptocurrencies among DeFi users and enthusiasts

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