SOLANA (SOL) COIN NEWS TODAY – SOL Price UP??? | SOL Price Prediction Today 2021
The crypto market is making a comeback and the Solana price is riding on the wings of the market’s resurgence. This has seen several investors want to buy SOL. The increasing use cases of the Solana blockchain is a pointer to rising interest from investors in the popular Ethereum rival. So, what does the future hold for Solana and is the time right to buy SOL?Founded by Anatoly Yavenko in 2017, the Solana blockchain was created with the intention of promoting decentralized finance (DeFi) services to the teeming crypto public. However, Solana faced stiff competition from the more popular decentralized applications (dApps) facilitator namely the Ethereum network.
The second most valuable crypto asset is the most recognized blockchain brand in DeFi and non-fungible token (NFT) sub-sectors with over 3,000 top-ranking dApp platforms being hosted on its protocol. However, Solana blockchain set out to break this monopoly and so far this year, it has been largely successful.
Its success is mainly tied to a number of factors surrounding its setup. Solana, unlike Ethereum, uses a proof-of-stake (PoS) consensus protocol which makes it faster than the older dApp platform. It also utilizes a proof-of-history (PoH) timing mechanism made from Bitcoin’s SHA 256 hashing algorithm.
This twin consensus algorithms see Solana average a base throughput of 50,000 transactions per second (TPS) and a maximum of 65,000 TPS. Yavenko says the blockchain intends to move this up to 700,000 TPS in the near future.
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