Solana is a high-performance cryptocurrency blockchain that supports smart contracts and decentralised apps. It uses timestamps in transactions for maximum efficiency. Solana's algorithm allows 50,000-65,000 transactions to be processed per second, with a theoretical limit of over 700,000 transactions per second. Bitcoin, by comparison, can process seven transactions per second, while Ethereum can process 15 transactions per second.
SOL is the Solana blockchain's native cryptocurrency and has a total supply of 500 million coins. Of those, 36.2% have been sold to private investors in four rounds of closed sales, 12.8% has been allocated to the Solana team. In addition to that, 10.4% has been allocated to the Solana Foundation, a not-for-profit organisation dedicated to educating people and disseminating blockchain technologies. The remaining 39% have been left for the Solana community as rewards for node validators.
Solana is being developed by the eponymous company based in San Diego, California. The Solana team is made up of former employees from Qualcomm, Google, Apple, Microsoft and Dropbox.
SOL's capitalisation at the beginning of April 2021 was over $7 billion.
Solana's ICO took place on CoinList in March 2020, when eight million SOL were sold for $1.76 million ($0.22 per SOL coin). That's only 1.6% of the total number of Solana tokens. In just Q1 2021, SOLUSD increased more than 12 times in value!
SOLUSD's average intraday volatility in 2020 was 8.6%.
In March 2021, Solana's founders noted that during development, the Solana team encountered just about every problem imaginable, which is why the Solana blockchain is still in beta.
How to buy and sell SOLUSD
You can buy and sell SOLUSD on specialised cryptocurrency exchanges, but the best way to trade it is through a broker or trading platforms, such as MetaTrader 4 or Libertex, where you can open and close positions much more easily, trade with leverage and even earn if the coin's value goes down.