SOLANA Network: the New Ethereum in Making.


  As the crypto world continues to grow the number of its projects every day, as well as the need for crypto networks that could support these projects; Solana network recently has become one of these emergent crypto networks that can support startups or new players in the crypto space. As a result, Solana has become one of the cryptos in the space that attracts the attention of investors around the world. It is also considered as one of the close competitors of Ethereum. Thus, most analysts believe it has the potential to outperform Ethereum in the coming years and could become the next Crypto currency to challenge Bitcoin in price value.


  The less than a year old coin Solana (SOL) with a market Capital of over $76.1 billion has shown significant increase since it's launch. Following it's launch in 2020, SOLs price started at $0.77. By November 7, 2021, its price has risen to a new ATH at $260, a gain of more than 27,000% in less than a year of creation.

  The SOLANA network however have been developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps) and smart contracts. This coin equally runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. SOL, Solanas native token, powers the platform.

  The coin seem to be on its route to a new price discovery and rising rapidly thus recording a growth of over +60% in the past 30 days and creating a new ATH at $360 over the weekend.

  Nonetheless, there are also some issues presently circulating in the Twitter world that involve Solana.

  For instance, Mr. Whale, the CEO of DigiWhales tweeted recently about this. “After an audit, it was discovered that Solana lied about their supply. Instead of being 8 million, it‘s 20 million. They lied & had 12M coins hidden in a ”market maker“ wallet. They’re also partnered with them, which is why I stay very far away.” — he tweeted.

  This has given some investors some worries and need to invest with caution while transacting with them as there exists possibility that these other supplies hidden in the market maker are not dead coins and could be released into circulation in the future; thereby reducing its worth and demand.

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