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June 28, 2022
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Solana (SOL) reaches an all-time record above US$64 and enters the top 10

The Solana cryptocurrency (SOL) is making big moves as adoption of the Solana blockchain continues to grow. See how he got to the top ten cryptocurrencies.

Amidst the recent rally in cryptospace, the Solana (SOL) open source project hits a record high of over $64 and enters the top 10. Solana’s SOL cryptocurrency has won more than 40% in the past 24 hours. This helped further increase your weekly earnings to almost 70%.

Solana’s recent move has helped him earn a place in the top ten cryptocurrencies by market capitalization. This happens when Solana’s market capitalization exceeds $18 billion. defi Uniswap token (UNI)

  • Solana (SOL) reaches an all-time record of over US$64 and enters the top 10.

Solana has had a solid increase since the start of 2021. From less than $2 on January 1st to now above $64, Solana has had a 32x increase or can we say a surprising 3100% gain in 2021.

The Solana open source project focuses on building a high-performance, permission-free blockchain maintained by the Solana Foundation, based in Geneva. Solana Labs, the creator of the Solana blockchain has received strong financial support from some of the industry’s leading players such as Slow Ventures, Multicoin Capital, Foundation Capital, Abstract Ventures and 500 Startups.

About Solana (SOL)

Solana’s official documentation states that a centralized database can “process 710,000 transactions per second over a standard gigabit network if the average transactions are no more than 176 bytes”.

Blockchain Solana aims to reach this milestone in the future. Currently, the Solana network processes only 50,000 transactions per second. To achieve this, Solana relies primarily on a combination of two main consensus mechanisms.

One is Proof-of-History (PoH), which is responsible for handling a large amount of transactions. The other is Proof-of-Stake (PoS) which takes care of validating the blocks produced by the PoH process.

Ahead of this year, blockchain creators Solana are planning their first annual conference Breakpoint. Cryptospace industry leaders will be participating in this conference scheduled for November 7-10.

The conference is to take place in Lisbon, Portugal will discuss various applications and use cases for Solana. In addition, it will also define the discussions for the future of blockchain Solana.

The recent rally in Solana comes amid strong transaction volumes on the network. Solana public network also set a new record with a lock-up volume of $1,854,341,405.74. Solana’s total transaction volume reached 24.1 billion transactions.

Another big development for Solana is Warmhole, a bridge that connects multiple blockchains. This further helps drive adoption of the Solana blockchain network.

Source: Coinspeaker

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