Solana is one of those coins, especially with its high-quality infrastructure and innovative structure. Some cryptocurrency projects may not see the value they deserve. Is it time for a comeback for this project that has seen a very serial decline for a long time? Is it certain that Solana will draw a rising curve from 2023? We share with you the answers to this curious question.
What Is The Solana Project?
Solana is an open source blockchain platform that enables the creation and execution of smart contract-based decentralized applications (DApps). As a platform, Solana competes with Ethereum, whose DApps market share is currently the largest. However, Solana has a number of key advantages over its competitors. Solana is known for its fast and cheap transactions. It can process up to 65,000 transactions per second at an average cost of about $0.00025 per transaction. Solana uses a unique technique called Proof of History (PoH) to validate transactions. This hybrid protocol combines Proof-of-Stake (PoS) with Proof-of-Holder (PoH) to enable even faster transaction rates.
Why Have SOL Prices Fallen?
Cryptocurrency prices fell during the crypto winter. Even after the bankruptcy of crypto exchange FTX, which held a significant amount of SOL, the price continued to fall. Despite these obstacles, Solana seems to have weathered the storm. If the crypto market turns upward, the SOL price will likely recover its losses quickly in 2022.
Why do we believe this? First of all, Solana is a high-value and special project. Many authorities have pointed out that after all the time that has passed and nearly thousands of projects that have popped up, Solana still has no alternative.
Moreover, Solana still has a very loyal following despite the many negative experiences with him. Many authorities believe Solana was unnecessarily overrated at the time, leading to the current impasse.
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