Solana, Challenging Ethereum And Bitcoin.

Personally, I consider Solana to be one of the most popular and promising cryptocurrencies of the moment, but what is behind this impressive rally? Before continuing let me mention that I mentioned: "rally" with all intents and purposes, from my point of view we are not yet in an altseason, which is a part of the cryptocurrency market cycle where many altcoins (all currencies that are not Bitcoin) they increase rapidly in price against the dollar and Bitcoin at the same time.

It is true that Solana is another altcoin that is benefiting from the widespread rise of cryptocurrencies in recent days, but in addition, and that is the difference, it has its own value based on its innovative technology, its diverse ecosystem and its community. active. This cryptocurrency has proven to be capable of offering real and competitive solutions to the scalability, security and speed problems that affect other platforms such as Ethereum and Bitcoin. Therefore, it does not depend solely on market fluctuations, but creates its own upward trend, based on its organic and sustainable growth. Solana is on a rally due to its enormous potential.

Notably, Solana is an open source project that relies on blockchain technology to provide decentralized financial (DeFi) solutions. It aims to improve the scalability, security and speed of transactions and smart contracts, overcoming the limitations of other platforms such as Ethereum and Bitcoin. To achieve this, it uses an innovative hybrid consensus model that combines proof of history (PoH) with proof of stake (PoS). PoH is a concept developed by Anatoly Yakovenko, the founder of Solana, which allows the order and timing of transactions to be recorded in an efficient and verifiable way. PoS is a mechanism that grants more power and rewards to nodes that hold more Solana tokens, thus incentivizing their participation and security.

Thanks to this combination, Solana is capable of processing more than 50,000 transactions per second (TPS), with a confirmation time of less than a second and an average cost of $0.00025 per transaction (+/- let's not get too technical 😀). These figures far exceed those of Ethereum, which has a capacity of 15 transactions per second, a confirmation time of several minutes and a fairly high average cost per transaction. They also surpass those of Bitcoin, which has a capacity of 7 transactions per second, a confirmation time of one hour.

These advantages make Solana an ideal platform to host decentralized applications (DApps) of all types, especially those related to the DeFi sector, which require high speed and low cost. The Solana ecosystem already has more than 400 projects built on its network, including exchange platforms, loans, games, digital art and social networks. Additionally, it has a large community of developers and users who support its growth and adoption. Solana is currently presented as one of the most solid and competitive cryptocurrencies on the market, capable of rivaling Ethereum and Bitcoin in terms of functionality, performance and value. Your future looks bright and full of possibilities.

PS: In this market we all mess up at some point, I had accumulated a little Solana that I sold about 9-10 days ago looking for liquidity in my account, of course I missed all the subsequent movement and the potential profits. Why am I telling you? It's simple, always reflect on the importance of having patience, never let yourself be carried away by anxiety, don't let the emotions of the moment influence your decisions. In the cryptocurrency market you have to have a long-term vision, we make mistakes, it is normal, we are human, but we also have the ability to learn from our mistakes. Good profit to everyone.

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Author's Note: The opinion expressed here is not investment advice, is provided for informational purposes only, and reflects the opinion of the author only. I do not promote, endorse or recommend any particular investment. Investments may not be right for everyone. Every investment in the market and every trade you make involves risk, so you should always do your own research before making any decision. I do not recommend investing money that you cannot afford to chair, as you could lose the entire amount invested.

 
💖 Originally Posted: Publish0x