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Reasons to Buy Solana (SOL)

• It has shown a very healthy ROI of 5400X since its inception in the market.
• Solana facilitates low-fee transactions at the same time maintaining fast processing speeds.
• It uses Proof-of-History and Proof-of-Stake consensus algorithms.
• It has a market capitalization of more than $42 Billion.
• It has a maximum supply of 489 million SOL tokens.

Solana was founded in 2017 and was able to raise a massive $25 million in its ICO (Initial Coin Offering). The platform was launched later in 2020.

It started with the aim of providing power to a large number of DApps without compromising on other features. Solana is a highly secure platform that allows developers to build atop their blockchain. With high TPS and low block time, it attracted the interest of small-time traders and institutional traders. Solana also enjoys a mixture of consensus algorithms to improve the scalability of the network. SOL, the gas token of Solana, is used to power all the transactions and smart contract operations on the network.

Things to consider before buying Solana (SOL)

• Solana can process more than 50,000 transactions per second (TPS).
• It is a very distributed blockchain with close to 1000 validators on its network.
• Users can also earn SOL tokens by supporting the security of the network through staking.

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.