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Solana SOLUSD

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Overview

What is Solana?

Solana is a high-performance cryptocurrency blockchain that supports smart contracts and decentralised apps. Solana’s algorithm allows 50,000-65,000 transactions to be processed per second, with a theoretical limit of over 70,000 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. SOL’s capitalisation at the beginning of April 2021 was over $7 billion.

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