Why you should get into Solana? Before its too late.

Solana Current Price : $94

ATH : $97.82

Price Prediction : $120-$150 EOY

Entry - Third week of September. Do not buy right now as the prices are very high.

The Solana Labs project was founded in 2017 by Anatoly Yakovenko, a former engineer at Qualcomm (QCOM) and Dropbox (DBX), along with a colleague from Qualcomm, Greg Fitzgerald. They were joined by several other former colleagues and launched the Solana protocol and SOL token in April 2020. The Solana Foundation, which is developing the open-source project, is based in Geneva, Switzerland.

The Solana blockchain aims to challenge the Ethereum blockchain as a basis for decentralised finance (DeFi) by offering high-speed transaction processing and low fees. Solana processes more than 1,000 transactions per second, compared with 14 on the Ethereum network, real-time data from Blockchair and Solana Beach show. Solana’s maximum theoretical throughput is 50,000 transactions per second.

Solana uses a hybrid protocol combining its proof-of-history (PoH) consensus algorithm with the proof-of-stake (PoS) consensus. PoS is more efficient and less energy intensive than the original proof-of-work consensus used by early blockchains like Bitcoin.

There are more than 250 projects in the Solana ecosystem. Solanax, announced this month, will be an automated market maker (AMM) that uses the Solana blockchain to facilitate fast and low-cost trade on a decentralised exchange. It plans to launch in the first quarter of next year. Last week, GTS, which is one of the largest electronic market makers in the New York Stock Exchange, said it will join the Pyth Network, a decentralised platform that aggregates data on the Solana blockchain.