SOLANA: Undervalued? Now

2

SOLANA: Undervalued?
Miguel
Miguel
2K


Design by adrianvidal



Solana, a high-performance blockchain platform, is quickly becoming popular among developers and investors.

Built to outpace its competitors, including Ethereum, Solana has seen increased growth in usage over the last year. With its scalability, improved transaction speeds, and low fees, it's no wonder that people are taking notice of this blockchain platform.

But with so much buzz surrounding this technology, one must ask: Is Solana undervalued?


SOLANA

Solana is a high-performance blockchain platform that enables secure, efficient, and scalable decentralized applications (dApps) and smart contracts.


The platform is powered by Solana's native cryptocurrency SOL, which has become increasingly popular with investors due to its low transaction fees and fast transaction times.

Solana was founded in 2017 by CEO Anatoly Yakovenko, who previously worked on distributed systems at Qualcomm.

Solana is built on a unique Proof-of-Stake consensus algorithm called the Tower BFT Protocol. This protocol allows for faster block times than other blockchains without sacrificing security or scalability.


All You Need to Know About Solana - Worldcoin

As a result of its fast transaction speeds, the Solana platform can handle up to 65 000 transactions per second (TPS).

Additionally, the use of sharding technology enables it to keep costs low while ensuring high throughputs are maintained.


Team in Back of Solana

Behind this innovative technology is a team of visionaries, engineers, and entrepreneurs dedicated to making Solana the go-to choice for developers worldwide.

The core team at Solana consists of the following:


CEO Anatoly Yakovenko has worked in blockchain software since 2013 and holds an MS in Mathematics from Moscow State University.


CTO Greg Fitzgerald brings over 20 years of experience in software engineering.


VP of Engineering Raj Gokal with extensive experience building high-performance distributed systems.


SOLANA: Why Unique?

Solana is a high-performance blockchain platform designed to make decentralized applications more efficient and secure.

It is the first blockchain network to utilize Proof of History technology, which provides a verifiable time source for the entire network.

With eight distinct core features, Solana enables users faster transaction speeds and scalability.


Proof of History Explained by a Water Clock | by Solana

Proof of History is one of the most important components of Solana's architecture. This core feature creates a reliable timeline that allows developers to ensure data integrity and avoid double-spending issues when transferring funds or executing transactions.

Additionally, it simplifies synchronization between nodes by eliminating the need for consensus protocols such as proof-of-work or proof-of-stake.


Technology Backing up Solana

Built from the ground up to be more efficient and secure than existing platforms, Solana offers a unique approach to consensus and scalability. Proof of History (PoH) and Tower BFT consensus are key components of this effort.

Proof of History creates cryptographic proofs for each transaction to record all transactions made on the network. The PoH algorithm helps ensure that transactions are processed quickly, securely, and accurately.

Tower BFT consensus also plays a vital role in Solana's success by providing a high level of security through distributed Byzantine Fault Tolerance (dBFT).

This ensures that all nodes within the network agree on the ledger's state while preventing malicious actors from compromising it.


Rust

Rust is the most popular programming language for writing programs on the Solana blockchain, a high-speed distributed ledger technology.

With its focus on speed, security, and scalability, Rust makes it possible to develop applications that can run efficiently on the Solana network.


As more developers embrace Rust as their language of choice for smart contract development, it's becoming increasingly clear why this powerful language is a great fit for Solana.


The Rust Programming Language - GitHub

Rust enables developers to create secure and reliable programs with its memory safety features, thanks to its system, which prevents data races from occurring.

This helps protect against acute attacks such as buffer overruns and other common vulnerabilities in smart contracts written in other languages.


How to Learn Solana Development (2023) - Alchemy

Rust's performance allows it to process transactions quickly while consuming less energy than many other languages; this helps reduce costs associated with running a dApp or service on Solana.


Phantom Wallet

Phantom Wallet is designed to provide a user-friendly interface and increased scalability, making it perfect for users who want an easy way to store their digital assets securely.

The digital Wallet is powered by Solana's innovative technology that allows transactions to be completed quickly and securely with minimal fees.


This revolutionary Wallet provides a secure environment for users without compromising on features – such as lightning-fast processing speeds, low fees, and high levels of security.

It also offers advanced features like multi-account setup and automated transaction signing, making it a great choice for those seeking a more advanced solution.

Furthermore, it utilizes the same open-source codebase as other wallets in the Solana ecosystem so developers can easily access its tools and resources.


Solana Use Cases

Many companies have adopted Solana as a platform for their dApps, and its use cases are growing rapidly.


One popular example is Helium: Which harnesses the power of Solana's blockchain technology to create an open-source network that enables anyone with a Wi-Fi router or hotspot device to share their Internet connection with others in exchange for cryptocurrency rewards.

This allows people without internet access, such as those living in rural areas or developing countries, to access online services such as communication platforms and e-commerce sites.


The following example is Orca, the first user-friendly experience on the Solana blockchain, offering users a full suite of services. It enables seamless access to its network and facilitates cryptocurrency transactions that are both fast and secure.


Another example is Audius, a brand-new streaming platform built for all musicians, not just those signed to labels. In addition, the platform uses the Solana blockchain, which makes it incredibly fast and secure.

This streaming platform offers musicians a new way to build their fanbase, promote their work and stream their music without being tied down by corporate labels.


Solana NFTs

Solana NFTs have made an impressive entrance onto the blockchain scene. The Magic Eden - NFT Marketplace is a major player in this new digital landscape, offering users access to non-fungible tokens (NFTs) on the Solana blockchain.


As one of the first marketplaces for Solana NFTs, Magic Eden has made a name for itself as a leader in providing users with a safe and secure platform to trade their digital assets.

The marketplace allows users to securely buy, sell, and store their non-fungible tokens within the Solana network. Through its intuitive interface and integrated wallet services, Magic Eden makes it easy for users to manage their digital assets confidently.


Crypto Phone

The Solana crypto phone is the latest advancement in secure communication. The phone has been developed by Solana, a global leader in blockchain technology, to provide users with an ultra-secure platform through which they can communicate and transact securely.


Solana Mobile Saga To Reportedly Launch Next Week

It is designed to be used by both cryptocurrency enthusiasts and enterprises looking for a reliable way to communicate securely on mobile devices.


The phone offers users end-to-end encryption that protects their messages from prying eyes. It also utilizes advanced security protocols such as hardware isolation and a trusted execution environment (TEE) to protect all sensitive data.


Why Solana Is Going Big on Mobile—And Making a

It supports multi-signature authentication and two-factor authorization for greater user control over the account access.

With its robust security features, the Solana crypto phone provides users with peace of mind knowing their conversations are always kept private.


Solana Community

The Solana developer community is rapidly growing and welcoming new members from around the globe.

Developers have access to various tools, including SDKs, APIs, and documentation, to help them build decentralized apps (dApps) quickly and efficiently.


In addition, they can share their knowledge through rich tutorials and join hackathons to push their skills further.

With its fast transaction speeds, reliable security features, and low latency infrastructure, Solana's tech stack has become a go-to choice for many developers.

The platform's promise of scalability also makes it an attractive option for businesses looking to integrate blockchain technology into their products or services.


Final Thought

Solana has earned its place among the top-performing cryptocurrencies and is a great choice for investors who want to diversify their portfolios.

Solana's innovative technology gives it an edge with features like high throughput, scalability, and low transaction costs. In addition, the network's strong developer community strengthens its fundamentals and makes it a reliable long-term investment.

With such a robust infrastructure, Solana is set to become one of the most influential blockchains in the years to come.




IF YOU MISSED $AVIVE AIRDROP 😑 GET READY FOR A POTENTIAL AIRDROP FROM ICE NETWORK 🪂
Khonshu
Khonshu
•
9 Jan 2024
IF YOU MISSED $AVIVE AIRDROP 😑 GET READY FOR A POTENTIAL AIRDROP FROM ICE NETWORK 🪂
70
Binance's Innovative Leap: Unveiling a New Paradigm in Blockchain with Project XYZ
Catalanuser
Catalanuser
•
9 Jan 2024
Binance's Innovative Leap: Unveiling a New Paradigm in Blockchain with Project XYZ
63
Learn About LooksRare, Community Driven NFT Marketplace
Sisy26
Sisy26
•
9 Jan 2024
Learn About LooksRare, Community Driven NFT Marketplace
92
What is Nakamoto Games ($NAKA)?
E
Erbatur
•
9 Jan 2024
What is Nakamoto Games ($NAKA)?
56
## What is Cryptocurrency: The Currency of the Digital Revolution
kripto7o
kripto7o
•
9 Jan 2024
## What is Cryptocurrency: The Currency of the Digital Revolution
49
CleanSpark Strikes Deal for 160,000 Bitmain S21 Miners Before Commencing In-House Trading
Kiryuuki
Kiryuuki
•
9 Jan 2024
CleanSpark Strikes Deal for 160,000 Bitmain S21 Miners Before Commencing In-House Trading
34
Standard Chartered Forecasts Bitcoin to Reach $200K by Late 2025: The Impact of ETFs
Jahoel
Jahoel
•
9 Jan 2024
Standard Chartered Forecasts Bitcoin to Reach $200K by Late 2025: The Impact of ETFs
67
Demystifying Bitcoin ETFs: A Game-Changer for Cryptocurrency Investors
joinairdrops
joinairdrops
•
9 Jan 2024
Demystifying Bitcoin ETFs: A Game-Changer for Cryptocurrency Investors
33
Bybit XAI Airdrop
Yns1903
Yns1903
•
9 Jan 2024
Bybit XAI Airdrop
202
Unleashing the Potential of STARKs: Revolutionizing Ethereum's User Experience
P
prafoos
•
9 Jan 2024
Unleashing the Potential of STARKs: Revolutionizing Ethereum's User Experience
35
Avail ağındaki ilk inscription 👉 $BLOB Otomatik Mintleme
riskY
riskY
•
9 Jan 2024
Avail ağındaki ilk inscription 👉 $BLOB Otomatik Mintleme
123
LimeWire (LMWR): From File Sharing Platform to Blockchain Giant!
cryptoverse
cryptoverse
•
9 Jan 2024
LimeWire (LMWR): From File Sharing Platform to Blockchain Giant!
50
South Korean Crypto Exchange Upbit Obtains Full Licensing in Singapore
jieun
jieun
•
9 Jan 2024
South Korean Crypto Exchange Upbit Obtains Full Licensing in Singapore
84
Navigating the Future: Unraveling the Potential of Solana
mkmizan
mkmizan
•
9 Jan 2024
Navigating the Future: Unraveling the Potential of Solana
38
GOLD VS BTC
akashlkytad
akashlkytad
•
9 Jan 2024
GOLD VS BTC
32
The Future of Ethereum: Scalability Solutions and Interoperability
C
cemo
•
9 Jan 2024
The Future of Ethereum: Scalability Solutions and Interoperability
14
After the December frenzy, the price of Solana Meme coins drops by 80%
Preshmorgans
Preshmorgans
•
9 Jan 2024
After the December frenzy, the price of Solana Meme coins drops by 80%
38
🚨 Taiko has confirmed the $TKO token release
Shaker.ajnan.musa
Shaker.ajnan.musa
•
9 Jan 2024
🚨 Taiko has confirmed the $TKO token release
31
What are NFTs
ikbal
ikbal
•
9 Jan 2024
What are NFTs
38
Mastering Fusion: Quick Guide to Unleashing the Power of Your Poofies and Embark on Your Poofyland🚀
artrix28
artrix28
•
9 Jan 2024
Mastering Fusion: Quick Guide to Unleashing the Power of Your Poofies and Embark on Your Poofyland🚀
48
🪂 $KILO Token Airdrop Opportunity !!!
TestCrypto
TestCrypto
•
9 Jan 2024
🪂 $KILO Token Airdrop Opportunity !!!
31
Bitcoin & Politics in Nigeria with James Otudor: A Comprehensive Overview
Art Of Tomas
Art Of Tomas
•
9 Jan 2024
Bitcoin & Politics in Nigeria with James Otudor: A Comprehensive Overview
36
Understanding Liquidity Pools: The Backbone of DEXs
Stressed 🥺
Stressed 🥺
•
9 Jan 2024
Understanding Liquidity Pools: The Backbone of DEXs
25
🚀 Potential ParclHQ #Airdrop backed by #Solana! 🌟
ID Labs
ID Labs
•
9 Jan 2024
🚀 Potential ParclHQ #Airdrop backed by #Solana! 🌟
26
มกราคม 8, 2024ราคา Bitcoin พุ่งแตะ 45,000 ดอลลาร์อีกครั้ง หลังผู้สมัคร Bitcoin ETF แก้ไขฟอร์ม S-1
W
wincici
•
9 Jan 2024
มกราคม 8, 2024ราคา Bitcoin พุ่งแตะ 45,000 ดอลลาร์อีกครั้ง หลังผู้สมัคร Bitcoin ETF แก้ไขฟอร์ม S-1
36
Polygon zkEVM Guide: Maximizing Chances for a Potential Airdrop
Block Traveler
Block Traveler
•
9 Jan 2024
Polygon zkEVM Guide: Maximizing Chances for a Potential Airdrop
54
Helix Trading Bot Launch
muebbeth
muebbeth
•
9 Jan 2024
Helix Trading Bot Launch
32
What is BNV?(Brand New Vision Ltd)
exodus
exodus
•
9 Jan 2024
What is BNV?(Brand New Vision Ltd)
32
New age of the World
Onore
Onore
•
9 Jan 2024
New age of the World
19
some tips
Y
yehtet
•
9 Jan 2024
some tips
2
Yuliverse
eliattoprak
eliattoprak
•
9 Jan 2024
Yuliverse
47
Enjoy this blog? Subscribe to Miguel
692 Comments
T

What's on your mind?
Entrep
Entrep
2mo
With the recent rise in Solana, one can come back to this article to appreciate the author's point of view
The_7th
The_7th
16d
This article is a very good, short summary of the Solana blockchain system. It should be a "must read" for newbies and beginners!
RCBEST
RCBEST
2mo
Nice article
Teko81
Teko81
1mo
Very interesting article, great work!
G
giaudi
14d
Great project and strong team. I hope this project will shine in future. Good luck for this project
Hael
Hael
10mo
I still believe that Solana can get back to half it's all time high price. The fact that it spiked after everyone had thought it was dead. I'm convinced
A
apusarkar
18d
Great project and strong team,
foss
foss
16d
thank for sharing.
wenmun
wenmun
11mo
Solana is highly promising. Thanks!
muskuz
muskuz
10d
Thanks for the excellent information.
I
ismailamumeen
14d
I am 100% believe in Solana with this latest article I just read
redwhite
redwhite
10d
It was a successful transition for the helium network. Many projects where speed is important can switch to the solana network
CAPTAIN
CAPTAIN
10mo
Absolutely right but it was 8$ in December and users were saying sol is going to end but finally in its again pumped, I like to use solana projects and it's also a powerful blockchain.
yosy26
yosy26
10d
Built to outpace its competitors, including Ethereum, Solana has seen increased growth in usage over the last year.
S
snars2023
15d
yeah, solana is one of the best network today and i believe it will continue to rise with a lot of new coins out there. Bonk started the pump and Jupiter token is coming this January.
CodedEmmy
CodedEmmy
10mo
Out of all the major blockchains that I currently use, Solana has one of the cheapest transaction fees coupled with good transaction speed. Once the few technical hitches that seem to occasionally plague the blockchain is ironed out, Solana can easily compete successfully with the likes of Ethereum
Read more
N
niloy348
18d
Amazing article
greatmens
greatmens
18d
Solana on fire from 8$ to soon 100$. Bullish on SOL
E
Ethoro
11mo
Solana allows token holders to participate in block validation and earn rewards. The platform also supports the programming language, Rust, and a variety of other development tools and frameworks. Solana has gained popularity among developers and investors alike, and its native token, SOL, has seen significant growth in value over the past year.
Read more
Most relevant comments are displayed, so some may have been filtered out.
Listed