Over the past several years, cryptocurrencies have become increasingly popular. There were over 16,00 cryptocurrencies in 2018, which has increased multiple times as of 2022 and is growing constantly. Crypto enthusiasts around the world are exploring different cryptocurrencies to leverage the exponential potential of digital currency and earn profit. However, the availability of a number of cryptocurrencies and blockchain platforms makes it difficult for investors to choose a perfect cryptocurrency and blockchain. In this article, we will shed a light on one of such cryptocurrencies, Solana, and will shed light on some of the interesting and important aspects of Solana crypto. What is Solana? Known for its remarkable speed and performance, Solana is a third-generation blockchain platform that supports the functioning of cryptocurrencies, decentralized applications, decentralized finance (DeFi) platforms, Web3 projects, and nonfungible token (NFT) marketplaces. It was launched in 2017 through an initial coin offering (ICO). It is often referred to as the “Ethereum killer” due to its similarities with Ethereum. Created by Anatoly Yakovenko, a former executive at Qualcomm, in 2017, the Solana blockchain can process over 65,000 transactions per second (TPS), with an average cost per transaction of $0.00025. Yakovenko, a former software engineer at Qualcomm, Mesosphere, and Dropbox, worked with Greg Fitzgerald, Stephen Akridge, and...
