Solana (blockchain platform)

"'Solana"' is a public blockchain platform that is open to the public. By using the proof of stake technique, it is able to obtain consensus. "'SOL"' is the name of the company's internal cryptocurrency.[1]

Journalist Joanna Ossinger of the financial news website Bloomberg highlighted Solana as "a possible long-term contender for Ethereum" in 2021, noting the cryptocurrency's faster transaction speeds and fewer related costs.[2][3]

The Solana blockchain went down on September 14, 2021, after a rush in transactions forced the network to split, and various validators had differing perspectives on the health of the network.[4] A short time later, on September 15, 2021, the network was brought back online. Solana is able to handle 50,000 transactions per second, which is greater than the Ethereum blockchain, but is still far less than the 400,000 financial flow during the surge.[5]

## References[edit]

1. ↑ Locke, Taylor (2021-11-05). "Solana is up 12,000% this year—what to know before buying the Ethereum competitor". CNBC. Retrieved 2021-12-02.
2. ↑ Ossinger, Joanna (7 September 2021). "Solana's SOL Token Weathers the Crypto Tumble Sparked by Bitcoin". Bloomberg.com. Retrieved 2 December 2021.
3. ↑ Ossinger, Joanna (5 September 2021). "Ethereum Rival Solana Climbs to Seventh in Crypto Top 10". Bloomberg.com. Retrieved 2 December 2021.
4. ↑ Shumba, Camomile (15 September 2021). "Solana says it is back up and running after a surge in transactions caused the network to crash the day before". Business Insider. Retrieved 2 December 2021 - via Yahoo News.
5. ↑ Prabhjote, Gill (15 September 2021). "It's DeFi season and things got a little too hot to handle for Solana and Arbitrum One as transaction volumes ballooned". Business Insider India. Retrieved 2 December 2021.

## External links[edit]

* Official website