Solana (SOL) is a public, open-source blockchain that supports smart contracts, including non-fungible tokens (NFTs). It works as a decentralized blockchain built to enable scalable user-friendly decentralized applications (dApps) for the world.
Working on a proof-of-stake (PoS) blockchain mechanism, SOL uses a new technology called Proof of History (PoH) and boasts a throughput of 65,000 transactions a second with near-zero fees.
Though its architecture claims an upper limit of 710,000 TPS on a standard gigabit network and 28.4 million TPS on a 40-gigabit network.
According to the company, each transaction on the blockchain costs remains less than $0.01 for both developers and users.
The per-block time on the network is just under 400 milliseconds, which makes the hardware faster, as well as the network.
Who created Solana
Solana was created by Anatoly Yakovenko alongside current Solana board member and Chief Operations Officer Raj Gokal in 2017 in order to solve problems on the Ethereum network.
The blockchain is also known and promoted as the Ethereum killer, as transactions on SOL are far greater than Ethereum, which does only 15 to 45 transactions per minute (TPS) currently.
SOL is increasing its adoption in the development of decentralized applications against Ethereum, as both SOL and Ethereum have smart contract capabilities and also operate state-of-the-art technology for decentralized finance (DeFi) protocols and non-fungible tokens (NFTs).
|Trading Volume 24h (05-18-22)||$1.77 billion|
|Market Cap||$17.43 billion|
|Total Supply||511,616,946 SOL|
|Circulating supply||337,355,638 SOL|
Today, over $100 billion worth of crypto projects are built on the Solana ecosystem, of which stablecoin Tether (USDT) takes the largest share of over $74 billion, while the balance is shared by 183 other crypto projects built on Solana.
Some of the projects that have gained lots of users’ interest are Chainlink, The Graph, StepN, Arweave, Serum, Audius, Ren, Civic, Render Token, and others.
In order to provide an alternative to Ethereum, Solana is slowing and gradually making inroads in its adoption as it is now trading on hundreds of exchanges and is available on different pairs.
How & why swap SOL?
In order to hold this fastest-growing crypto project in your wallet, users can log in to the Klever Wallet app.
The app is available for free on Google Play Store and Apple’s iStore.
Download the app, run it, open it, and log in to your app with a six-digit security code.
Once a user enters the app, you will come to the portfolio page, click on the fourth tab on the bottom right side (a dollar-like) figure.
Users will land on the swap page, select USDT in the first box and select SOL in the second box.
Click on next and swap it with SOL.
Users can click on the link to check in details of the swapping process.
Which are the available pairs?
Once users have SOL in their wallet, he/she can now swap it for Tether (USDT), Binance USD (BUSD), Ethereum (ETH), Tron, Klever (KLV), Bitcoin (Bitcoin), Binance Smart Chain (BNB), wrapped Bitcoin and wrapped Ethereum.
How to find SOL pairs inside Klever Wallet?
To find fairs that you can swap with SOL, users need to go to the swap page, select SOL in the first box, and select any one token as a pair listed in Klever Wallet to complete the swapping process.
It is very easy and quick to swap for SOL or with it for other tokens available on the Klever Wallet.So what are you waiting for? Hold Solana and initiate your first Swap for SOL on Klever Wallet!