Convert SOL to USD
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ksmKusamasolSolanaWhat is Solana?
Solana is an open-source blockchain platform designed to support decentralized finance (DeFi). The idea for the coin was conceived by programmer Anatoly Yakovenko in 2017, with the official launch of the currency starting in the spring of 2020.
The Solana Foundation, based in Switzerland, plays a leading role in the project's development. The main task for the developers was to improve scalability by implementing an improved Proof of History (PoH) consensus model. Solana helps make decentralized funding models accessible.
Among cryptocurrencies, SOL stands out for its minimal blockchain processing time. This is particularly attractive to investors, including both regular users and large companies. The creators promise reduced fees and small commissions for counterparties. The project focuses on reducing transaction costs while providing scalability and fast information processing.
Coins in circulation
The token is available for purchase. Fluctuations in the exchange rate do not affect the overall trend of the currency, which remains stable and shows confident growth. Like many currencies, Solana occasionally experiences dips but quickly returns to its original value. Cryptocurrency exchanges where SOL can be bought or sold include Binance, Bibit, Dipcoin, OKX, and others. The developers plan to release 489 million coins, with over half of the total already in circulation on the market. The percentage distribution of assets is as follows:
- approximately 16% sold as seed investments;
- 13% listed in the main sales register;
- just over 12% reserved for distribution within the community;
- 10.5% belong to the Solana fund.
Solana's security
The combination of the PoH and PoS consensus mechanisms makes the project unique. Both components are responsible for the accuracy and sequence of transaction processing. PoH records confirmed transactions and the time spent processing them, providing trustless betting. PoS consensus is used to monitor PoH operations and verify previously created blocks. Such schemes are new to the blockchain industry. Solana has shown that they are effective.
Buying SOL
You can find SOL on the most well-known cryptocurrency platforms. Binance is known for high volumes of Solana operations. The second-largest exchange by token turnover is OKX. You can also buy it on Bilaxy and Huobi Global.
Analysts hope that with the rise in bitcoin quotes, active growth of altcoins, including SOL, will begin. Problems with the product that the token faced in 2022 are now a thing of the past. Today, Solana has all the chances of becoming one of the most significant smart contracts.
Where to store Solana?
You can store SOL in almost any crypto wallet. For personal storage, as well as for business purposes, it is better to use Passimpay. It's easy to use, offers outstanding features, and is anonymous, so it's accessible to everyone. More than that, on PassimPay you can convert SOL into 45+ coins and withdraw them with low fees.