The hottest thing in the market recently is the Solana public chain token Sol. When other tokens collectively pull back, Sol directly "calls back" to a new high.
During this period of time, Solana’s performance was astonishing. At its highest value, the Sol token directly rushed to the sixth place in the market value, stepping on the feet of all major mainstream currencies. Secondly, Solana's lock-up volume has also risen rapidly. As of September 9, Solana's lock-up volume has exceeded 7.5 billion US dollars, a record high, ranking third among all public chains. Currently, the lock-up volume ranks in the top three The largest public chains are ETH ($122.8 billion), BSC ($16.9 billion), and Solana ($7.5 billion). In many people's minds, the Solana public chain may really become a strong opponent of ETH.
Many people are not familiar with Solana. Although it was founded in 2017, in the early years, Solana received far more doubts than praise, mainly because Solana’s PoH consensus technology is too difficult to make, so in the blockchain In the market, Solana's presence is not strong.
Until Solana is completely released from 2021, there are also many factors driving it.
First of all, the high performance of the Solona public chain itself has been verified. The label "fast" can be affixed to Solana, not only because of its fast development and token growth, but also its public chain processing speed. Currently, Solana's maximum TPS can reach 50,000+, the block generation time is about 400 milliseconds, and the number of global nodes More than 300. As a comparison, the number of transactions per minute of BTC is about 7 times, and that of ETH is about 30 times, which is in stark contrast. In addition, the core of its expansion scheme is the decentralized clock of Proof of History (PoH). Through the verifiable delay function, PoH allows each node to use the SHA256 algorithm to generate timestamps locally, eliminating the need to broadcast timestamps in the network, thereby improving overall network efficiency. Moreover, the Gas fee on Solana is quite cheap compared to the ETH public chain. On the whole, Solana is a high-performance public chain with three characteristics: scalability, decentralization, and low cost.
Secondly, Solana belongs to the "SBF universe". The well-known SBF in the circle relies on its good reputation to turn the tokens and projects it has "patronized" into market favorites, not only Solana, but also SBF. Projects such as FTX and Eden are also popular in the market recently. In the future, we will explain the related projects of "SBF Universe" one by one. You can also pay attention to them.
Speaking of Solana, as early as January this year, SBF said on Twitter that everyone should sell Sol to him, and he would buy as many Sol as possible for $3. Sure enough, Sol has passed recently. 200U, and the recent surge in the price of Sol is also due to SBF. The label "one of SBF's favorites" has brought a lot of attention to Solana.
The third point is due to market factors. Since the beginning of this year, the DeFi market has exploded, and the gas fee of Ethereum has soared, which has given other public chains a lot of room for development. Not only Solana, but other excellent public chains have also attracted the attention of the market. In the future, we will also one by one Explain, but Solana is one of the most eye-catching ones. Not only did it build the Ethereum EVM at the first time, so that the projects on Ethereum can be seamlessly linked to Solana, but also strive to build its own ecology, so that users have a richer experience.
The last point is reflected in the ecological construction. The Solana Foundation has held three hackathon competitions, and is currently holding the fourth one. The hackathon competition is an event specially held for developers. I personally select excellent projects to deploy on the Solana public chain, and strictly control the ecological environment of Solana.
At present, Solana's ecology has spread all over the major tracks, including DeFi, NFT, chain games, wallets, cross-chain, etc., among which there are some quite outstanding projects. If you want to "hunt novelty" in the future, Solana is a good choice.
Of course, we still have to look at the problem objectively. In the blockchain market, when a hot spot emerges, everyone sees advantages, so there is FOMO sentiment. After the popularity drops, can Solana still wait for the market to come out? Favor is the key, and we can look forward to seeing whether Solana still has the strength to compete with ETH.
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