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What is Solana Crypto? How Does It Work, and What are Its Features?

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Hundreds of different cryptocurrencies are offered on the crypto market, but not all of them have some variable technology at the core. Many tokens are “empty” inside, and they don’t have any applications and reach high positions on rankings only due to the hype around them. This article will not talk about such assets. We instead outline an up-and-coming project with valuable technology at the core. This is Solana.

Solana is a blockchain for developers to create and deploy decentralized apps, blockchain games, NFTs, metaverses, smart contracts and other products on its base. When Solana was released, it got dozens of large products developed on top of its blockchain; many noticed its benefits and even called it a direct competitor to a well-known Ethereum network.

What is Solana Coin?

SOL is a native cryptocurrency of the Solana blockchain that participates in products built on it. As of mid-November 2022, the SOL crypto price is $13.6. What is so special about Solana? Here are some interesting facts:

  • SOL coins are not mined – they are received through staking. Staking is locking coins in the network, thus, providing liquidity and receiving additional coins as a reward. Staking is available for anyone with an internet connection.
  • No damage to the environment.
  • Speedy transactions and huge throughput – 50,000 transactions per second.
  • Solana blockchain runs 20 times faster than Ethereum.

Where Can I Buy SOL Crypto?

Being one of the most popular crypto assets,  SOL is listed on all large crypto platforms. Choosing a credible exchange that provides a high level of site safety and average fees is advisable. Beginner investors especially appreciate the WhiteBIT platform for its user-friendly interface and a variety of tools for trading. In addition, you can learn how to buy and sell coins using a demo account on WhiteBIT.



By

Ram Kumar blogs at DeviceBowl. He is a graduate in Computer Science and Engineering. Addicted to Blogging and Coding.

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