Is Solana Crypto’s Hidden Gem? – The Motley Fool

Is Solana Crypto’s Hidden Gem? – The Motley Fool

The Solana blockchain network has been quietly making waves by enabling online businesses to make sales and purchases online with crypto. Thanks to Solana’s innovative blockchain solutions, merchants can now enjoy instant payouts, without waiting days or even weeks for funds to settle in their bank accounts. Launched in the spring of 2020, its native token, SOL (CRYPTO:SOL), is one of the Top 15 coins on the charts. As more companies start using its network, investors who get in on Solana now stand a better chance of striking gold in the future.

Girl investing in cryptocurrency on her smartphone.

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Real utility for real businesses

Solana is a blockchain network built for speed, security, and efficiency. It combines the proof of stake consensus algorithm — PoS for short — with a novel proof-of-history, or PoH, system.

In PoS, the more of your own money you add to the pot, the larger chunk you get from the network’s reward pool. PoS relies on having as many people staking as possible, to keep the network running smoothly and securely.   Some networks, including the popular Ethereum, approve the most expensive transactions faster than smaller ones. That’s because Ethereum uses proof-of-work,
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