SOL Data Price Offer today

 

Live Solana today's price is IDR 1,354,825 IDR with a 24-hour trading volume of IDR 31,521,483,814,680 IDR. We update our SOL to IDR prices in real time. Solana is down .84 in the last 24 hours. CoinMarketCap's current rating is #8, with a market cap of IDR 433,081,964,682,058 IDR. There is a circulating supply of 319,658,937 SOL coins and max. supply is not available.

The top exchanges to trade on Solana right now are Binance, OKX, BitCoke, FTX, , and . You can find others listed at .

What is Solana (SOL)?

Solana is a highly functional open source project that uses permissionless blockchain technology to provide decentralized finance (DeFi) solutions. While the initial idea and work on this project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation headquartered in Geneva, Switzerland.

The Solana protocol is designed to facilitate the creation of decentralized applications (DApps). It aims to increase scalability by introducing proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Due to this innovative hybrid consensus model, Solana enjoys the interest of small traders and institutional traders. A significant focus of the Solana Foundation is making decentralized finance accessible on a larger scale.

Who are Solana's Founders?

Anatoly Yakovenko is the most important person behind Solana. His professional career began at Qualcomm, where he quickly rose through the ranks and became a senior staff engineer manager in 2015. Then, his professional path shifted, and Yakovenko entered a new position as a software engineer at Dropbox.

In 2017, Yakovenko began work on a project that would later materialize as Solana. He teamed up with a Qualcomm partner, Greg Fitzgerald, and they founded a project called Solana Labs. Withdrawing a few more former Qualcomm partners in the process, the Solana protocol and the SOL token were released to the public in 2020.

What Makes Solana Unique?

One of the important innovations that Solana presents is the proof-of-history (PoH) consensus developed by Anatoly Yakovenko. This concept allows for greater protocol scalability, which in turn improves usability.

Solana is known in the cryptocurrency realm for the incredibly short processing times this blockchain offers. The Solana hybrid protocol enables significantly reduced validation times for smart contract transactions and execution. With lightning-fast processing times, Solana has also attracted a lot of institutional interest.

The Solana protocol is intended to serve both small users and enterprise customers. One of Solana's main promises to customers is that they won't be surprised by increased fees and taxes. This protocol is designed in such a way that it has low transaction costs while ensuring scalability and fast processing.

Combined with the long-standing professional expertise that co-founders Anatoly Yakovenko and Greg Fitzgerald brought to the project, Solana is ranked number 42 in the CoinMarketCap rankings as of February 2021.

Related Pages:

Read more about Steem.

See Marlin.

Learn more about Decentralized Finance (DeFi).

Check out the CoinMarketCap blog.

How Many Solana (SOL) Coins Are in Circulation?

The Solana Foundation has announced that a total of 489 million SOL tokens will be released in circulation. Currently, about 260 million of them have entered the market.

The distribution of SOL tokens is as follows: 16.23% is used for the initial sale, 12.92% of tokens is dedicated to the sale of the founders, 12.79% of SOL coins is distributed among team members, and 10.46% of tokens is given to the Solana Foundation. The remaining tokens have already been released for public and private sale, or are still to be released to the market.

How is Solana's Network Secured?

Solana relies on a unique combination of proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms.

Proof-of-history is a key component of the Solana protocol, as it is responsible for most of the transaction processing. PoH records successful operations and the elapsed time between them, thereby ensuring the trustless nature of the blockchain.

Consensus proof-of-stake (PoS) is used as a monitoring tool for the results of the PoH process, and validates each block sequence generated by it.

The combination of these two consensus mechanisms makes Solana a unique phenomenon in the blockchain industry.

Where Can You Buy Solana (SOL)?

SOL tokens can be purchased on most exchanges. One of the options for trading Solana is on Binance, as it has the highest SOL/USDT trading volume, $8,947,213 in February 2021.

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