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What Is Solana (SOL)?
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Solana is a largely functional open source design that banks on blockchain technology’s permissionless nature to hand decentralized finance (DeFi) results. While the idea and original work on the design began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland. 

To learn further about this design, check out our deep dive of Solana.
 
The Solana protocol is designed to smooth decentralized app (DApp) creation. It aims to help scalability by introducing a evidence-of- history (PoH) agreement combined with the underpinning evidence-of- stake (PoS) agreement of the blockchain. 

Because of the innovative mongrel agreement model, Solana enjoys interest from small- time dealers and institutional dealers likewise. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
 Who Are the Authors of Solana?
 
Anatoly Yakovenko is the most important person behind Solana. His professional career started at Qualcomm, where he snappily moved up the species and turned elderly staff mastermind director in 2015. Latterly on, his professional path shifted, and Yakovenko entered a new position as a software mastermind at Dropbox.

In 2017, Yakovenko started working on a design which would latterly materialize as Solana. He teamed up with his Qualcomm coworker Greg Fitzgerald, and they started a design called Solana Labs. Attracting several further former Qualcomm associates in the process, the Solana protocol and SOL commemorative were released to the public in 2020.
 

What Makes Solana Unique? 

One of the essential inventions Solana brings to the table is the evidence-of- history (PoH) agreement developed by Anatoly Yakovenko. This conception allows for lesser scalability of the protocol, which in turn boosts usability.
 
Solana is known in the cryptocurrency space because of the incredibly short processing times the blockchain offers. Solana’s mongrel protocol allows for significantly reduced testimony times for both sale and smart contract commission. With lightning-fast processing times, Solana has attracted a lot of institutional interest as well. 

The Solana protocol is intended to serve both small- time dopers and enterprise guests likewise. One of Solana’s main pledges to guests is that they won't be surprised by increased freights and levies. The protocol is designed in such a way as to have low sale costs while still guaranteeing scalability and fast processing.
 
Combined with the longstanding professional moxie generators Anatoly Yakovenko and Greg Fitzgerald bring to the design, Solana is ranked number 7 in the CoinMarketCap ranking as of September 2021. 

This came on the reverse of an emotional bull run, where Solana price gained over 700 sincemid-July 2021. The launch of the Degenerate Ham NFT collection packed SOL price to an each- time high (ATH) above$ 60, and it has been climbing since, largely due to advanced deviser exertion on the Solana ecosystem, lesser institutional interest, growing DeFi ecosystem, and the rise of the NFTs and gaming perpendicular on Solana. Solana price rose to an ATH of$ 216 onSept. 9, 2021.
 
Solana has admitted important praise for its speed and performance, and has indeed been sloped as a rival that can compare to Ethereum and challenge the dominant smart contract platform. Still, the network has been cursed by repeated outages that have bloodied its price and goals to be the"Visa of crypto." Likewise, its ecosystem is indicted of favoring speculation capital investors with illegal tokenomics. 

This has led to a retrace in the price of SOL as of February 2022, and further short- term bearish price action can not be ruled out. Still, in the long run, Solana should appreciate thanks to strong support from exchanges like FTX.

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