Solana

Solana is one of the few web-scale blockchains in the market. Solana provides fast, secure, and reliable decentralized apps or dApps and marketplaces to its users. In simple terms, Solana is a tool to help builders create web 3.0 applications. One of the primary goals of the Solana blockchain is to tackle the scalability issue that many decentralized applications are facing today.

Solana Blockchain

Solana blockchain is a managed blockchain network provided by the company. It allows builders to focus on other core aspects of the application while leaving the blockchain infrastructure. This saves a lot of time for developers since they won’t have to learn new technologies.

Moreover, the Solana blockchain infrastructure has autoscaling. One of the primary issues with decentralized applications today is scaling. By addressing this issue, blockchain is making the whole process much easier while advancing the technology.

Here is a list of a few more key features of the Solana blockchain.

• Turbine: The turbine is the native block propagation protocol of the Solana network.
• Sealevel: Sealevel is a program that allows smart contracts to run parallelly. This greatly improves the efficiency of the blockchain.
• Archivers: Arcivhers is the distributed ledger of the Solana blockchain. All the data of the network is stored in Archivers.

Solana Coin

The Solana coin (SOL) is a critical part of the Solana blockchain. The Solana coin is primarily used to pay for transactions on the network. The coin has a market cap of 601 billion US dollars.

Currently, there are more than 290 million Solana coins in circulation. You can also convert any crypto to the Solana coin. It is available on most of the major platforms, including EasyBit, Changelly, ChangeNOW, StealthEx, and more.

Key Features of SOL Coin

As we mentioned, if you’re planning to use the Solana blockchain network to build decentralized applications, you must use SOL coins to complete the transactions. The SOL coin is currently among the top 20 cryptocurrencies in the world.

Interestingly, the SOL coin uses neither the Proof of Work or the Proof of Stake algorithms. Instead, it uses something called Proof of History or PoH. All the events on the Solana blockchain are hashed using the SHA256 algorithm, which is considered to be one of the most secure ones.

The output hash of the SHA256 algorithm is extremely difficult to predict, if not impossible. The Solana blockchain takes this output hash of the first event and passes it as the input for the next hash. This cycle continues forever. The cycle of hashes makes the Solana blockchain more secure than ever. If an attacker wants to gain access to a particular event, they’ll have to crack the entire blockchain which is considered highly implausible.

Unlike Proof of Work used for Bitcoin, Proof of History orders the transactions based on the latest hashes. One of the primary goals of using PoH is that the time taken to confirm the orders will be greatly reduced, making the network incredibly fast.

How to convert Solana?

1. To complete Solana crypto swap, in the select pair tab, choose, for example, Bitcoin (BTC) and enter the amount of BTC you want to exchange.
2. In the ‘Get Up To’ section, select Solana (SOL).
3. Once you enter all the above information, you should see the exchange rate and multiple offers displayed on the website.
4. Here, you can sort the offers based on various parameters like price and transaction time.
5. Choose the best offer you can find and click «Exchange».
6. Enter the relevant wallet details and click on ‘Proceed to exchange’ to complete the transaction.
7. Wait for the deposit to be processed by the exchange service and the exchange to be done.
8. Don’t forget to rate the exchange partner and leave a review, so we can gather more information on the exchanges for future users