We offer our complete guide to the Solana Cryptocurrency and Blockchain Network. Includes financial data, key features, historical info, and technical details. Brought to you by Digital Financial Market.
Last Updated: 4/6/2021
Solana Cryptocurrency
Solana is the 5th largest blockchain network in the world. The Solana Blockchain is a network that is designed to process extremely large amounts of transactions using a very efficient blockchain protocol.
The blockchain protocol for Solana uses a method called Proof-of-History to create a time efficient blockchain network. Utilizing the Proof-of-History protocol allows for hyper fast block speed, which processes a large amount of transactions and also allows for very small transaction fees.
Solana (SOL) Price Chart
Key Points of Solana
- 5th Largest Cryptocurrency in the world
- Very low cost transaction fees, with very fast blockchain processing
- Adaptive Platform, Solana is direct competition to other crypto leaders like Ethereum
- Supported by thousands of Developers and Validators (Also called Data Miners)
History of Solana Crypto
The first Whitepaper of Solona was written by Solana CEO Anatoly Yakovenko in 2019. The blockchain went live in April 2019 when San Francisco Based Solana Labs launched the network.
On September 14th of 2021, the network received an extremely large amount of transactions overloaded the system causing an outage. This forced the development team to reset the network, and the Solana network was online by September 15th of 2021.
This outage had little affect on the price of Solana, which only dropped a mild 20% in the weeks after the crash, never trading lower than $124 USD. The price of SOL quickly rebounded to a November 2021 high of $260 USD.
Solana made headlines in December 13th, 2021 when former First-lady Melania Trump announced that she was releasing an NFT through Solana. The Solana Foundation released a press statement claiming that the Solana Organization was not partnered or involved in her release of an NFT on their platform.
Solana Blockchain Explorers
Solana Blockchain Explorer
The official Website for viewing Solana blockchain transactions is explorer.solana.com. The explorer allows users to look up transactions, see blocks, review circulating supply and view total market cap.
Solscan Explorer
SolScan Blockchain Explorer
The most popular blockchain navigation tool for Solana is SolScan.io
Solana NFTs
The most popular Solana-based NFT platform is SolSea.io, a NFT market similar to Ethereum’s OpenSea. SolSea was first launched on December 14th, 2021.
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