Review on Solana by Huseyn Akberov

Solana Coin; It is a highly functional open source project based on the unauthorized nature of blockchain technology to provide decentralized finance (DeFi) solutions. Ideas and initial work on the project begin in 2017. Solana was officially launched in March 2020 by the Solana Foundation, headquartered in Geneva, Switzerland. The Solana protocol is designed to make it easier to create decentralized applications (DApp). It aims to improve scalability by offering a proof of history (PoH) consensus combined with the underlying share evidence (PoS) consensus of the blockchain. Due to its innovative hybrid consensus model, Solana attracts both small-scale traders and institutional traders. An important focus for the Solana Foundation is making decentralized funding accessible on a larger scale.

What is Solana Coin?

Solana Coin, Developed by Anatoly Yakovenk. His professional career began at Qualcomm, where he rose rapidly. In 2015, he becomes a senior personnel engineer manager. Then the professional way changes. Yakovenko takes a new position as a software engineer at Dropbox. Yakovenko begins work on a project that will be implemented as Solana in 2017. Working with his Qualcomm colleague Greg Fitzgerald, he founded a project called Solana Labs. The Solana protocol and SOL token, which attracted several other former Qualcomm colleagues in the process, will be made public in 2020.

When Did Solana Coin Come Out?

Solana Coin release date is 2020. One of the important innovations that Solana brings to the table is the proof of the past (PoH) consensus developed by Anatoly Yakovenko. This concept makes the protocol more scalable. This also increases availability. Solana is known in the cryptocurrency field for the incredibly short trading times that blockchain offers. Solana's hybrid protocol provides significantly reduced validation times for both transaction and intelligent contract execution. With lightning-fast processing times, Solana also attracts corporate attention. The Solana protocol aims to serve both small-time users and enterprise customers in the same way. One of solana's main promises to its customers is that they will not be surprised by the increased fees and taxes. The protocol is designed to have low processing costs while guaranteeing scalability and fast processing. They continue their promising work with the achievements of long-standing professional specialty creators Anatoly Yakovenko and Greg Fitzgerald.

Which Country is Solana Coin?

Solana Coin's country is Switzerland. The idea and initial work on the project began in 2017, while Solana was officially launched in Geneva, Switzerland, in March 2020 by the Solana Foundation. The Solana protocol is designed to make it easier to create decentralized applications (DApp). The Solana Foundation announces the release of a total of 489 million SOL tokens in circulation. Currently, about 260 million of them enter the market. 16.23% goes to the first seed sale. 12.92% of tokens are allocated for enterprise sale. 12.79% of SOL tokens are distributed among team members and 10.46% of tokens are given to solana foundation. The remaining tokens are already released or prepared for release for public and private sales. In order for Solana to achieve all its goals, developers need to think outside the box. Therefore, the network is full of proprietary systems. These systems work together to create a highly convenient and reliable blockchain network.

How to Buy Solana Coin?

To buy Solana Coin, you need to create an account on cryptocurrency exchanges. SOL tokens can be purchased through most exchange platforms. As of February 2021, it is listed on Binance because it has the highest SOL/USDT trading volume at $8,947,213. Next up is okex with a trading volume of $6,180.82, while other options for trading Solana include Bilaxy and Huobi Global. It is important to remember that investing in cryptocurrency involves a risk, just like other investment opportunities. Kyc approval is carried out after the creation of an account with personal information for your investments. With the completion of the necessary steps, SOL Coin trading activities can be started.

What Infrastructure Does Solana Coin Use?

Solana Coin infrastructure relies on a unique combination of historical proof (PoH) and share proof (PoS) consensus mechanisms. Since it is responsible for the majority of transactions, historical evidence is the main component of the Solana protocol. PoH records successful operations and the time between them. Thus, it provides the unreliable nature of the blockchain. The Proof-of-stake (PoS) consensus is used as a monitoring tool for PoH processes and verifies every block array it produces. The combination of two consensus mechanisms makes Solana a unique phenomenon in the blockchain industry.

What are the Advantages of Solana Coin?

Solana Coin benefits are as follows:

High scalability;

 The solana network is high performance in terms of scalability. That's why it doesn't cause network congestion like it does on the Ethereum network. In transactions with SOL Coin, order approval is obtained quickly and the waiting time is reduced.

High Security;

 Solana uses both the security protocol on the network and selects the nod that will perform transaction approval with the votes of the users. Security is at the forefront of SOL Coin trading.

Stability;

 When looking at sol coin price volume, it is seen that it performs well in terms of stability during the period when it enters uptrends.

High Passive Income Gain;

 SOL Coin holders accumulate SOL Coins by connecting them to the Solana network. In this method, the coin gain obtained at the end of the term increases.

What are the Disadvantages of Solana Coin?

The disadvantages of Solana Coin are as follows:

Risk of Attack;

 While SOL Coin is stored in a virtual wallet, it is at risk of possible attacks on cryptocurrency exchanges. Therefore, it is preferable to store the hardware in the wallet.

Challenging Mining Conditions;

 Users have the right to vote on the security elements of SOL Coin transactions. Users choose the nod to vote for. To mine, you need to earn transaction approval. Conditions get tougher.

What are the Comments about the Future of Solana Coin?

Judging by the comments regarding the future of Solana Coin, the Solana project and SOL Coin are among the altcoins expected to gain value in the second half of 2021. This altcoin stands out for its security, speed and scalable model. Sol Coin, which is thought to be able to meet more purchase demands in the second half of 2021, has managed to become one of the most popular cryptocurrencies of recent days. Of course, since it has a 1-year history, the new price movements it will make are shaped entirely according to the characteristics of the project. SOL Coin is among the cryptocurrencies with a bright future. Analysts say SOL Coin could gain value in the second period of 2021. They think that the first half of 2021 can be closed by a price drop. In the second half of 2021, SOL Coin is said to be priced between $45 and $50.