Welcome to my Solana Review – Possible Crypto Successor to Ethereum?
Welcome to my Solana Review.
There has been some hum about this cryptocurrency and its catching on due to it superior transaction speed and low fee structure.
Likelihood is someone came to you with this investment opportunity and you came here to make sure it is on the up and up.
Good news is I am going to guide you through the company, product, cost and transaction speed
Just pay close attention and follow me to the finish.
Solana Review – What is it?
Solana is a programmable language that launched on Mainnet 23 August, 2020
Co founders Anatoly Yakvenko, Greg Fitzgerald, and Stephen Akridge are all former Qualcomm colleagues.
As today September 30, it ranks #7 on the Coinmarketcap.
It is available on several US exchanges including Coinbase and Binance.
Its major backers include Andreessen Horwitz and Polychain.
Solana Reviews – Speed
It is one the fastest programmable block chains in the crypto world right now. It can process 50,000 transactions per second(TPS) and perhaps more. The TPS speed could approach 700,000 TPS as the Solana Network Grows. Ethereum can only currently process 15 to 45 TPS.
Visa says it can process 24000 TPS. The importance lies in the fact that if they wish to compete with Visa in the payment processing arena that should be able to match Visa’s TPS speed.
Solana Product Review
Solana is making a foray into non-fungible tokens (NFTs) – a type of digital collectible taking the crypto world tornado fast. It can incode ownership and copyright info into these tokens essentially putting important data into these digital art pieces.
Solana is attracting a wide variety of projects. Something like 400 at the time of this writing. Solana has a variety of DEFI applications that make the token very attractive. DEFI or Decentralized Finance is a term for projects that take the middleman out of the equation especially banks. If you accept Visa, Mastercard, or American Express you understand the pain of the 2-4% transaction fee for processing a transaction.
Reviewing Solana as a successor to Ethereum?
Ethereum, the first programmable blockchain, can host other applications and cryptos. Today, most applications are still built on Ethereum. however the Ethereum network is suffering from high fees and congestion. So blockchain developers are looking for alternative.
Solana like a handful of other blockchains is looking to achieve dominance. Although Ethereum will probably not be killed off, Solana has an opportunity to be a top tier programmable token.
I have personally met programmers in the space who are attempting to create a Solana lending application. Certainly exciting times ahead for Solana.
Final Solana Review Verdict as a successor to Ethereum
So does Solana – the Possible Crypto Successor to Ethereum?
Let’s just look at the facts…
First while we do know Solana is increasing in value, we do not yet know if it has staying power
They have leadership with an excellent digital footprint.
We are on the right track here.
Second, it can be traded on Binance or Coinbase exchanges
Solana does hold significant TPS.
Solana could become a player, but you should do your own research if you wish to invest.
My #1 Recommendation
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When it comes to crypto, one thing you need is CAPITAL. So you can invest in more cryptocurrency and getting another job isn’t the best way to do that…
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I hope you enjoyed my Solana Review
and if you have any questions feel free to ask in the comments below…
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See you at the top,
-Scott Rulon
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