I’ll be writing more about this cryptoasset in the next weeks, so this post will be a work in progress.
One of the distinguishing features of Solana is that it uses a Proof of History algorithm for achieving consensus. As a reminder, Bitcoin uses Proof of Work while Ethereum is moving towards Proof of Stake.
You can view many of the projects within the Solana ecosystem on this Google Doc.
As I write this, NFTs have recently been launched and things are really heating up. While I don’t plan on splurging on the NFTs themselves, I believe they’ll bring a lot of awareness to the qualities of Solana as well as a big inflow of capital into the SOL token.
Keep in mind that Solana is one of the newest of the big projects and so it should be considered to be in Beta stage. That means there might be periods of downtime and other similar incidents, and they shouldn’t be considered to be a huge deal at this stage.