Solana

Solana

 SOL

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 Exchange Rate

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. Now, 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

Popular pairs to convert Solana

Frequently asked questions

How to Stake Solana?

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Often dubbed as “Ethereum killer” due to its scalability, Solana is a decentralized blockchain that aims to be censorship-resistant and fair in the web 3 marketplace. Solana uses a Proof-of-Stake mechanism to secure the transactions on its blockchain, and this is where staking comes into play. In simpler terms, votes and transaction verifications made by validators depend on the amount of Solana that they have staked on the network.

To stake SOL tokens, you need a wallet that supports SOL staking – you can check out a list of compatible wallets here. Then the SOL tokens you are willing to stake should be moved from your wallet into a stake account with a unique address. In addition, you can stake rewards if the account is delegated to a validator after you enable inflation on Mainnet Beta.

Are you interested in staking Solana? Then you will need to buy some SOL tokens first, head over to Swapzone to buy and swap SOL tokens, and more.

How to Buy Solana?

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Solana was launched on Mainnet Beta in March 2020 as a public base-layer blockchain protocol that optimizes for scalability. Since then, it has evolved to become a fully-fledged cryptocurrency with a market cap of over $33 Billion. It is simple to buy SOL, all you need to do is register an account on a cryptocurrency exchange or open a wallet that can send and withdraw SOL.

With Swapzone, you can buy Solana really easily with our rich asset selection and offers from 15+ exchange providers. For example, buy SOL with ETH at the best rate on the market in just a few simple steps:

  1. Select the Ethereum to Solana swap pair.
  2. Enter the total amount of ETH you are going to exchange.
  3. Choose the best ETH to SOL swap offer.
  4. Click on the Exchange button.
  5. Enter your wallet address to receive Solana to your wallet.
  6. Send your ETH deposit to the generated address.
  7. Wait for your ETH-SOL swap to be done.
  8. Receive your SOL to your wallet!

Is Solana a Good Investment?

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Investing in SOL implies a vote of confidence in the future profitability of the Solana network and the vision of its founders – enabling developers to create decentralized applications on a scalable platform. Under three years in the hostile crypto markets, Solana has climbed up to number 7 on the CoinMarketCap rankings and has over $33 Billion value in market capitalization. In addition, its scalability makes it a very useful coin in the DeFi world, making its future valuation very promising.

SOL can be bought on almost every crypto exchange open to the public, but we advise you to do additional research before investing, and again, never invest more than you are willing to lose as you could never truly know where the volatile crypto market would be swinging next.

Are you interested in buying or investing in Solana? Head over to our Swapzone to buy, sell, or swap SOL with any crypto coin of your choice.

*Every investment decision involves the risk of loss. The content of this website is informational only and should not be considered investment advice.

Where Can I Buy Solana?

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You can choose to buy Solana from any of the cryptocurrencies available on the market. Solana provides fast, secure, and reliable decentralized apps or dApps and marketplaces to its users. This makes Solana an attractive crypto coin for exchanges to list.

Swapzone makes buying and swapping Solana easy for you. Swapzone is one of the topmost cryptocurrency exchange aggregators on the internet. On Swapzone, you can find the best exchange prices for the SOL to BTC pair or any other crypto coin. The platform will show you the results from the top crypto exchanges from which you can pick the best deal. You can sort the list by price, time taken to complete the transaction, and many other filters to find the right exchange.

Join the growing number of Solana holders who hold the promising and fast-rising cryptocurrency that is often referred to as the “Ethereum killer” by heading over to Swapzone to buy Solana or swap other coins for Solana at low rates.

Can You Add Solana to Metamask?

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Yes, you can add Solana to your Metamask wallet. However, you can not add Solana in its raw SOL form, you have to add the coin in a wrapped form because raw SOL is not EVM compatible. This wrapped form also works for other alternative blockchain networks like the Binance Smart Chain, Avalanche, Ethereum, and Polygon networks.

Notably, you can not send SOL from wallets that hold the native Solana crypto coin to Metamask. To solve this, you will need to use a bridge such as portal bridge to transfer SOL from the Solana network to an EVM-compatible network like MetaMask. This is how you add SOL to Metamask, and you can top up your SOL balance on Metamask here at Swapzone.

Head over to the Swapzone exchange page right now to top-up your SOL balance on Metamask right now at the best rates available on the market.

How to add Solana to Metamask?

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You can not add native Solana to your Metamask wallet because the Solana network is not compatible with Metamask (SOL is not EVM Compatible). However, you can still make use of SOL in a different network like Metamask with wrapped SOL – a 1:1 representation of a native token on another blockchain. Wrapped SOL is available on various blockchain networks like Binance Smart Chain, Ethereum, Avalanche, and Polygon networks.

Therefore we can only teach you how to add Wrapped SOL to Metamask in this piece. Follow the steps below if you would like to learn how to add wrapped SOL to your Metamask wallet:

  1. Select the appropriate blockchain network on Metamask
  2. Copy the unique contact address for Wrapped SOL specific to the network you are using (You can get the available contact address of each network on CoinMarketCap)
  3. Click on “Import Custom Token” and paste the contact address

Are you interested in buying or adding Wrapped Solana to your Metamask wallet? Head over to our website to buy, sell, or swap SOL with any crypto coin of your choice now.

Where to Stake Solana?

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Staking of Solana can be done through any laptop or computer. Staking allows Solana holders to generate profits and earn additional cryptocurrency with low risk and because of Solana's Proof-of-Stake consensus mechanism, staking is a crucial part of the network as it helps secure the network. Staking returns are based on the current inflation rate, the total number of SOLs staked on the network, and each validator’s commission and uptime.

You can stake Solana on a variety of crypto exchanges that offer this particular service. Crypto exchanges like Binance, Kraken, FTX, Atomic wallet, and Exodus all support Solana staking. However, it is advisable to do additional research about concepts such as slashing and others before deciding to stake your hard-earned SOL tokens.

In sum, staking Solana can be worth it and you do not want to miss out on this opportunity, buy and swap SOL with our exchange today so you can begin your staking journey.

*Every investment decision involves the risk of loss. The content of this website is informational only and should not be considered investment advice.

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