Solana Crypto Price Prediction, Value and Chart (SOL)

Solana (SOL) Frequently Asked Questions

What is Solana?

Solana is a single-chain, delegated-Proof-of-Stake protocol, founded by former Qualcomm, Intel, and Dropbox engineers in late-2017, focus on delivering scalability without sacrificing decentralization or security. Core to Solana’s scaling solution is a decentralized clock titled Proof-of-History (PoH), built to solve the problem of time in distributed networks in where there is not a single, trusted, source of time. By using Verifiable Delay Functions, PoH allows each node to locally generate timestamps with SHA256 computations. This eliminates the need for the broadcasts of timestamps across the network, improving overall network efficiency. SOL is the native token of the Solana blockchain. Community tokens are held by the Swiss Foundation, which is run by an independent board. This token pool is used for bounties, incentives programs, marketing, and grants. Solana’s mission is to support all high-growth and high-frequency blockchain applications and to democratize the world’s financial systems. (Description provided by CryptoCompare)

How do I buy Solana?

It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Solana.

Where can I get Solana wallet?

Solana produces its own wallet software that is available for download on its website, which allows you to store Solana on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

What is the value of Solana?

One Solana (SOL) is currently worth $57.44 on major cryptocurrency exchanges. You can also exchange one Solana for 0.00188061 bitcoin(s) on major exchanges. The value (or market capitalization) of all available Solana in U.S. dollars is $19.38 billion.

What hashing algorithm does Solana use?

Solana is a PoH coin that uses the ETH Token algorithm.

What coins are similar to Solana?

The following coins use the same hashing algorithm (ETH Token) as Solana: BITCOIN ADDITIONAL, Binance USD, Crypto.com Coin, Parkgene, DREP, DREP [old], Dai, Polygon, THETA, FTX Token, yOUcash, Chainlink, KickToken [old], Decentraland and Magic Internet Money.

What is the Reddit page for Solana?

The official Reddit community (subreddit) for Solana is r/solana.