What is Solana (SOL)?

Solana is a new high-performance, permissionless open source blockchain project. Share the name with the company that maintains the project located in San Francisco.

Your network is built from the ground up especially to be scalable. The team intends to demonstrate that when a set of software algorithms are combined to implement a blockchain, what is known as a "bottleneck" is avoided, that is, a collapse of the network. In this way, network performance is maintained even when demand is skyrocketing.

Unlike many blockchain projects that choose to create blockchain algorithms with additional complexities such as 'sharding', Solana prefers to use the existing architecture and algorithms and improve them.

Solana has sought to be scalable while still offering other features that are often requested from any blockchain project, being secure and decentralized.

As described in their white paper, the limit of transactions exceeds 710 thousand per second on a standard gigabit network and 28.4 million tps on 40 gigabits. And always executing transactions safely and allowing the creation and execution of programs created in a general-purpose programming language such as C or Rust.

Solana nodes can check the timing and order of events without the need to witness them directly. Thus, message overhead is greatly reduced while unlocking massive network optimizations.

Solana Applications

• 1 Payments: like so many other blockchain platforms with their own token, this can be used to make payments, especially because the transaction cost will be around $ 0.000001. Combined with its high transaction speed, it is perfect even for daily micro-payments.

• 2 Distributed Web Services and Storage: A decentralized, encrypted, permissionless, and secure web service and cloud storage system. In this way, high common costs are eliminated.

• 3 Distributed ad exchange: Ad marketing on a single platform can spawn all kinds of data-driven ancillary industries. But for this it is necessary that the blockchain really be as scalable as it says. Just Google publishes up to 340,000 ads per second).

• Decentralized exchanges: never touch users' private keys.

How to buy SOL?

In the following table you can see a list with the names of the cryptocurrency trading platforms that we recommend, as well as the payment methods offered by each of them and the estimated deposit time.

THE BEST CRYPTOCURRENCY EXCHANGES

ETORO: very easy 1 - 2 days

Kraken: easy Quick (3-4 days)

Binance: easy Quick (3-4 days)

We do not recommend using the Coinbase trading platform due to its high fees.

Wallets for SOL

It is important to know the alternatives available to store each of the cryptocurrencies that we want to buy. It is also important to know the good and bad points of each of them.

Keeping them offline is always the most recommended option. And with these characteristics we find several alternatives:

Hardware wallet

Hardware wallets have always been highly recommended for, precisely, allowing to keep assets away from the internet. It is a very good option also because it allows both the private and public keys to remain with us. Some wallet hardware options are Ledger Nano S or TREZOR.

Paper wallet

A very important piece of paper that contains both the private and public keys. This option is also considered very safe, however, you have to be very careful and keep it well stored so that no one unwanted has access to it and that we can find it when we need it.

Official wallet

At the moment, no official wallet of its own is mentioned on the official website of the project. However, it is possible that when the time comes they will announce their alternatives or, at the very least, inform us about the existing compatible wallets.

Due to the decline I think about investing in solana since before the fall it was in 9 dollars a few weeks ago, right now it is in 16 dollars in this last week of February I always follow its movement in coin360 for more security