Solana was founded in 2017 by veteran computer scientist Anatoly Yakovenko. Solana was built by solana software company based in San Diego CA which raised over $25 million between multiple sales of the soul coin in 2019 and 2020. Like most cryptocurrency projects solana is owned and operated oversees by the solana foundation, a non profit based in Switzerland which commissions solana labs to maintain solana blockchain. Solana blockchain can process transactions at speeds comparable to traditional payment processors, official figures range from 50 to 65,000 TPS now this is all thanks to salon’s unique proof of state, which uses a decentralised time keeping mechanism called proof of history, to timestamp transactions. Solana also has a novel architecture which divides validator notes on the blockchain into DAP, specific clusters solana staking rewards are about 7% per year for both validators and delegators with a five day unlock. Miss behaving validators will eventually lose 100% of their stake for messing with the blockchain. Soul’s initial supply is 500 million and it has a diminishing annual inflation rate which begins at 8% an falls to just on1% percent after 15 years.
First up a little bit about the phantom wallet just in case you’re new a phantom wallet. Is the non custodial wallet for solana the highly scalable and what they claim to be the fastest blockchain in the world, which is known for offering a vast array of Defi solutions and for its successful soul token. The wallet is remarkably similar to the web three wallet alternative meta mask and is currently available as a browser extension which is free to download for Chrome Firefox Edge and Brave. With the phantom wallet, you can manage your crypto and NFT’s, steak token swap, and access defi applications on the solana blockchain. Within ethereum beta coming soon making it a real challenger to meta mask, is a non custodial web free wallet where the user holds the private keys, plus you can also integrate with Ledger hardware wallets. The first place that you’re gonna need to start is phantom dot app where you can currently download the browser extension, however there is also a mobile app which is in development therefore depending on when you’re readind this that might also be available.
How to buy Solana
Now the best place to buy Solana is the FTX crypto currency exchange, because the phantom wallet can be connected directly to your FTX accoun. After you’ve purchased some soul coins on FTX, open up the phantom web wallet by clicking the puzzle piece in the top right of your browser, then click on deposit sol, click on deposit from FTX. Now you have to sign into your FTX account to manually type how much so you want to transfer into phantom from FTX (note that your soul balances noted just beneath the area where you input this number) once you click pay confirming that your withdrawal was successful.
How To Find Solana Next 100X gem
*Do not participate in them if you’re not sure, it’s your responsibility to find out and it’s on you if you get trouble.*
There are three places you can find up and coming solana projects.
The first place is the global version of the FTX exchange offering so far and almost all of these have been for projects building on solana. Primarily because FTX is one of the biggest backers of solana and FTX defi ecosystem project serum is built on the solana blockchain. The nice thing about FTX is IDO( initial DEX offering) is that the projects involved are thoroughly vetted in advance just like the project on binance launch pad. The tradeoff is you’ll probably have a hard time participating in FTX is they require having a sizable amount of FTX is FTT token. Moreover many of the projects introduced through FTX is IDO have horrendous low sale allocations with the overwhelming majority of the tokens going to early investors and the teams behind the projects. This sort of setup creates a lot of sell pressure which has a tendency to suppress prices.
Raydium accelerator has hosted about half a dozen initial offerings and most of these projects are backed by FTX another heavyweights in the crypto space. Unfortunately participating in radians ideas also requires a sizable amount of capital. The process is also slightly more complex and you’ll have to do some extra research on the crypto’s you find there to make sure that there are legit since project betting is not as rigorous as it is on FTX. Some FTX backed projects such as star Atlas saw their tokens list on FTX shortly after the IDO and this is definitely something to be on the lookout for on radium and elsewhere.
This brings me to the third place you can find upcoming salona projects and that’s solanium which launched recently.
Solanium has a similar idea process as radium but the barriers to entry are a bit lower at least for now. The main advantage here is that you can find all here. The disadvantage here you have to do a lot more diligence on any projects you’ll find on solanium, as well as any other upcoming launchpad platforms for solana project due to more relaxed betting.
Salon’s NFT marketplaces
You have probably noticed the salon’s NFT’s have been in the news lately and that’s because they’ve also been selling for ridiculous prices. You can buy and sell pieces from salon’s most popular NFT collections on salon art. If you re buying Solana with the hopes of another percent boost subsequent month, you could want to reconsider. Solana may be a sensible long-time period investment, but investing in the hopes of constructing a short blade is never a good suggestion.
Solana is still no longer as typical as Bitcoin. However, there are an expanding number of stores that are now accepting it. After all, that you would be able to at all times convert Solana into different cryptocurrencies like Bitcoin, Ethererum, or tether to make payments on-line. Solana is now one of the quickest programmable blockchains in crypto. The solana maknet went live in March 2020 solana is still technically in beta and Even so solana has managed to attract hundreds of thousands of individuals and dozens of institutions from both inside and outside of the cryptocurrency space and has proven itself to be a serious contender in the smart contract cryptocurrency niche.
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