By John Meyer, financial consultant. Eurasia Business News, January 12, 2022
Solana (SOL) is up 5 %, reached $ 143 on January 12. Toal supply of Solana in the crypto market amounts to $ 513.22 million.
Solana could not escape the general downward pressure in the crypto market in the past month, amid fears of tightened monetary policy in the US. The technical conditions of the Solana network, however, are an optimal basis for profiting from the Metaverse boom in the coming months.
Some ingenious developers have already figured this out and have started implementing their versions of Metaverse on Solana blockchain. One of the biggest projects is Star Atlas, which already has a market capitalization of $ 230 million.
On January 4, 2022, the Solana network faced a severe congestion of its blockchain network. However, Solana’s teams came to reassure (or not) its community, explaining that it was not an external attack, but an internal problem due to the launch of a new runtime.
Solana is considered an emerging competitor to Ethereum. Vitalik Buterin’s cryptocurrency is the leader among blockchains with smart contracts, but its network is often overloaded, which leads to increased fees for transfers. Solana offers faster and cheaper transactions.
Read also : Why cryptocurrencies can help liberal democracies
So far, Solana lags far behind Ethereum in terms of network activity. Ethereum has its own blockchain where a global network of over 2.4 million computers known as “nodes” maintains a record of transactions.
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