Solana SOL

On 2024-11-21 the current Solana price/exchange rate is 230.03128 EUR.

Solana (SOL) is a "third generation" blockchain network created to provide fast and scalable transactions.

To enable fast transactions and increase scalability, Solana uses an interesting concept called Proof of History (PoH) and combines it with the fundamental consensus of Proof-of-Stake (PoS).

With this innovative hybrid consensus model, Solana seeks to provide a better infrastructure for creating a new generation of decentralized applications (Dapps).

Proof-of-History (PoH) is the main component of the Solana protocol. It is responsible for most transactions within a network. 

PoH records successfully completed transactions and the time elapsed between individual transactions.

Proof-of-Stake (PoS), on the other hand, is used as a tool to track the Proof-of-History process and validate each subsequent block.

Solana also has the original cryptocurrency SOL. 

Solana blockchain users need SOL to pay transaction fees. 

Users who hold (SOL) can also be network validators.

At the time of writing this text, there were about 430 million SOL tokens in circulation. 

The Solana Foundation announced that the maximum amount of Solana (SOL) tokens that will ever exist will be 562,465,268 million.

The team at Solana claims that it is currently the fastest blockchain platform in the world. 

It differs from the competition by the high speed of transactions. 

The production of new blocks is between 400 and 1000 milliseconds. 

By comparison, Ethereum takes 13 seconds to do the same job.

Solana also claims that it can process 50,000 transactions per second. 

The Proof-of-History protocol enables fast transactions.

PoH is designed to keep transaction costs low while ensuring a high level of scalability and high transaction processing speed.

Solana uses a Proof-of-Stake (PoS) mechanism, so the mining process looks significantly different from Bitcoin mining.

Validators within the network process transactions and maintain the network itself. 

They are selected based on the amount they have staked online. 

Validators who stake the largest number of SOL tokens will have the advantage of validating new transactions in the blockchain, for which they will receive a reward.

The founder of Solana is Anatoly Yakovenko - a former software engineer at Qualcomm and Dropbox. 

The project was launched in 2017. 

Yakovenko and his former Qualcomm colleague Greg Fitzgerald, launched Solana Labs and created the Solana testnet, which started operating in 2018.

On the Bitcoin Store platform, you can easily buy Solana and more than 170 cryptocurrencies at the real-time exchange rate with the lowest fees.

First, you need to create and verify your account on the Bitcoin Store cryptocurrency trading platform to get full access.

After successful verification, you can deposit (EUR) to your Bitcoin Store Wallet.

Supported payment methods for deposit are:

Once we receive your payment, funds to purchase cryptocurrencies will be available on your Bitcoin Store Wallet, and you can start purchasing cryptocurrencies.

On the Bitcoin Store platform, you can easily sell more than 170 cryptocurrencies from our offer at the current exchange rate.

You can instantly sell cryptocurrencies that are stored on your Bitcoin Store Wallet.

Cryptocurrency stored on personal wallets such as Exodus, Trust Wallet, Ledger, Treasury, etc., or various trading platforms and must be transferred to your Bitcoin Store Wallet before selling.

Once the transfer is successful, you can sell your cryptocurrency. 

You can withdraw the funds directly to your bank account or keep them on your Bitcoin Store Wallet and use them for future cryptocurrency purchases.

You can buy and sell cryptocurrencies for cash in Bitcoin Store exchange offices in Zagreb, Rijeka, Osijek, and Split.

Verifying your identity via ID card is not required for all transactions up to 1000,00 EUR.

You can deposit cash directly to your Bitcoin Store account in the exchange office. 

The deposit amount will be visible immediately and ready for your next cryptocurrency purchase.

You can store Solana in your digital wallet. 

When it comes to cryptocurrencies, digital wallets can be divided into 2 groups - Hot Wallets and Cold Wallets.

Hot wallets include:

Cold Wallets include:

You can also store SOL on your own Bitcoin Store Wallet. 

The access and storage of cryptocurrency are free for all users who register on the Bitcoin Store Platform.

On Bitcoin Store Wallet you can: