Are The Bad Times Over For Solana?

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.

Are The Bad Times Over For Solana?

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. 

You might check: How to Earn Cryptocurrency with GameFi?

Robert Taylor

Experienced Journalist with knowledge in shareholder activism, corporate governance, and asset finance reporting across various environments including online, print, and social media. Keen to learn about new sectors through the lens of journalism. I have worked as a financial journalist for over thirteen years, I worked my way up from news reporter to become deputy news editor in 2007. As a journalist, my primary focus is to ensure that my readers are well-informed on the most significant changes happening in the world of cryptocurrency, from blockchain technology to the latest market trends. In addition to staying up-to-date with breaking news stories, I am also interested in exploring the long-term potential of cryptocurrencies as a whole. I believe that blockchain technology will fundamentally change the way we conduct business, and I am excited to be a part of this transformation. My background in business and finance gives me a unique perspective on the world of cryptocurrency. I have worked with some of the biggest financial institutions in the world and have seen firsthand how the industry is evolving. I understand the challenges and opportunities that crypto presents and am eager to share my knowledge with my readers.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button