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Solana celebrated his 5th birthday yesterday. In honor of the opportunity, we decided to take a look at the journey of this blockchain to become a leading platform and the home of the best meme coins.
Solana was launched on March 16, 2020, by Solana Labs CEO Anatoly Yakovenko and Solana co-founder Raj Gokal and his team. That was around the time that the whole world was forced to be closed by the COVID-19 Pandemie.
About 408 billion transactions and almost $ 1T on the market on DEXs later, today Solana is only locked for Ethereum in terms of total value, at $ 6.85 billion.
Solana is designed to tackle the scalability problems that the Bitcoin and Ethereum -block chains have plagued. And in the past five years it has been generally accepted in areas such as Defi, NFTs, Gaming, Web3 applications and – of course – as a launchpad for some of the best meme coins.
The fast, cheap layer 1 blockchain has had a good part of ups and downs in the last five years.
At the height of the Bull Run from 2020-2021, the market capitalization rose from Solana to $ 77.8 billion. However, it plummeted with a huge 96% at the end of 2022. The Solana price fell to $ 8.30 and market capitalization brought around $ 3 billion.
Nevertheless, Solana has proven a pretty comeback -largely thanks to the rage of Meme Coin. Last year the Meme Coin market exploded and the collective market capitalization grew by 330%, According to Cex.io.
The impressive speed of Solana (up to 65k transactions per second), low costs, strong community and developer-friendly environment have made it the go-to-blockchain for the best altcoins, making it a considerable lead over competitors.
Solana again on the right track for a good year ahead
While Solana is celebrating its 5th birthday, it seems that good things are in store for this blockchain. Firstly, US President Donald Trump recently announced that $ Sol will be included in the proposed strategic reserve of the country.
Institutional players recognize the strong position of Solana – with people as asset manager BlackRock on the edge of launching $ Sol Spot ETFs.
Solana also has two protocolupgrades in the pipeline. The first, Simd 0123, proposes a system in which the priority costs of Solana go to validator strikers. This should increase rewards, block off-chain transactions and improve the processing of the chains.
SIMD 0228 is now a proposal to change how new $ Sol tokens are released, in an attempt to make token issue more balanced and more efficient. Instead of a fixed schedule, rewards would adapt based on how many people expand.
The Solaxy pre -sale solution for the pitfalls of Solana
The Solana ecosystem continues to bloom in the landscape of cryptocurrency and web3, which proves that speed, efficiency and innovation can co -exist in a decentralized world. That said, the Solana Blockchain is still known for traffic congestion and failed transactions.
Comes to the rescue Solaxy ($ solx)The meme currency behind the world’s very first Solana Layer 2 ecosystem.
$ Solx wants to build on the good points of Solana (speed and low transaction costs) by stimulating scalability and adding even more speed.
As a token based on Ethereum, Solaxy Solana and Ethereum will bridge, which means that $ Solx holders can benefit from the strength of these two blockchain power patters.
This is exciting news for the crypto world and investors take note. The Solaxy pre -sale has collected $ 26.7 million since it was launched in December last year.
At present, 1 $ Solx costs $ 0.0016666 (with 153% stealing rewards). However, because it is a presale, it will not remain that low for long.
If you are interested in investing in what potentially a game change is for Solana, the Solaxy white paper is a good starting point, just like the $ Solx x -channel. Our guide for buying $ solx will lead you through the steps if you decide that this is the investment for you.
Don’t forget to do your own research because we are not financial advisers. That said, it will be exciting to see what is in store for the Solana Blockchain if the last five years are something to visit.
Credit : www.newsbtc.com
