The smart contract platform Solana has performed undaunted by the bear attack. In the last month, SOL posted gains of over 92%. Its features and applications promise an extension of its uptrend.
Sino Global Capital has published a report highlighting Solana’s strengths. From its low latency, high throughput, its operability with the Proof of History mechanism, the Solana blockchain is capable of processing 50,000 TPS. Sino Global Capital stated:
(…) Without compromising decentralization or security. Solana is in a unique position to gain market share from existing smart contract blockchains, as well as to attract new projects and users to the crypto / blockchain space.
In parallel, Solana users can take advantage of low fees averaging $ 0.0007 per transaction with a high level of composability that sets it apart from alternatives.
In the long term, composability on Solana’s blockchain could support the growth of its DeFi ecosystem, much more than on other platforms that will implement fragmentation and second-layer solutions. Sino Global Capital adds:
(…) Composibility with the entire layer 1 ecosystem. No fiat entry ramps in any EVM layer 2, new users must first transfer funds via Ethereum, at a cost (~ $ 50), while the same onboarding in Solana it costs less than 1 cent. Solarium.
Solana Interoperability with Ethereum
To achieve this, BSC has capitalized on its interoperability with Ethereum, low fees, and the expansion of its DeFi ecosystem.
Solana is a platform that offers low costs and BSC speed, with greater decentralization, its blockchain has more than 600 validators. In comparison, BSC has 21 validators.
During the year, Solana is expected to be portable to Etheruem by receiving support for EVM as a second layer solution. Along with a more “simplified” user experience, a community of over 25,000 contributors on GitHub, Rust-based smart contracts.
The firm claims that Solana has greater “accessibility” for new developers and enormous potential to implement numerous use cases:
Huge potential to build a new class of decentralized applications that can only be made possible by a high-performance, scalable blockchain. With Solana’s scalable processing power, these use cases can thrive. (…) Decentralized projects for high frequency trading, central limit order books (CLOB), derivatives, cloud computing and cloud storage
Another key factor is the significant number of alliances that have been consolidated around this platform and the DeFi projects that continue to emerge. For example, Audius, Oxygen, Serum and others. Sino Global Capital concludes:
Solana fills a huge performance gap in the world of blockchain while remaining decentralized and composable. A bet on Solana is a bet that one day we will need fully decentralized systems that can support thousands of complex, high-value transactions per second and that the chain that can support that scalability and purpose will accumulate significant value today.
With a parabolic rise across the board, SOL hit an ATH with $ 27 on the 24-hour chart. However, after a small drop it is trading at $ 26.13 with gains of 8% during that period.
SOL with moderate gains on the 24-hour chart. Source: SOLUSDT Tradingview