Solana overview
Founded: 2017
Key persons: Anatoly Yakovenko
Capitalization: $43,014,002,373
Trading volume (24h): $1,931,428,281
CoinMarketCap rank: 7
Solana (SOL) general project description
Solana — next-generation open-source blockchain — sets a high tech ceiling on the number of transactions completed per unit time. The project raised its first investment in 2018 and has been growing rapidly since then, entering the top 30 crypto projects by capitalization in early 2021, and later making an impressive jump to the 7th spot. Alameda Research, one of the largest crypto VC firms, played an important role in this success. The most recent round of investment (summer 2021) brought in $314 million. Investors’ reliance on Solana stems from the use of scalable and promising decentralization technology based on the Proof-of-History consensus and the Tower Consensus cryptographic construct. Tower Consensus is an element of Byzantine Fault Tolerance, which enables the introduction of a time variable into the validation of blocks and transactions in a blockchain.
Current state (ecosystem and partners)
The blockchain ecosystem has evolved and now includes more than 400 projects from a wide range of crypto-economic spheres: decentralized exchanges, p2e games, yield aggregators, liquidity providers, NFT-platforms. Blockchain ranks third in the DeFi segment in terms of funds raised and locked (behind Ether and Binance Smart Chain) with a mark of $9.84 billion. Blockchain projects built on Solana include many innovative and technologically strong teams. Some of them (Serum and Raydium) were mentioned in the C100 company overview series .
With over 1,000 validators participating in the blockchain, network security has been enhanced significantly, and the milestone of 60,000 transactions per second has been achieved.
Future plans and development (roadmap)
Solana is committed to growing its ecosystem exponentially and attracting large numbers of both developers and users after receiving their last round of investment. To achieve the goal, the company is running a series of offline hackathons, nearest taking place in Lisbon. A grant award initiative has also been launched for promising teams and projects.
With Solana’s bridge, users of different blockchains (mainly Ethereum and BSC) will be able to transfer liquidity onto Solana’s network and take advantage of various incentive programs and new project launches.
