Do you want to know what makes #SOL so special and why it continues to attract developers and projects? Join me in this thread to discover it
1/9 Business Model:
Solana offers a high-speed, low-cost platform for decentralized applications (dApps), focused on attracting sectors like DeFi, gaming, and NFTs.
Practical example:
Imagine you are a user buying an NFT in a marketplace on Solana. The transaction to acquire an NFT on Solana costs approximately $0.00025 USD (compared to several dollars on networks like #Ethereum). If the NFT you buy costs $100 and you make 4 transactions (purchase, listing, transfer, and resale), the total costs would be only $0.001 USD.
Additionally, if you are a DeFi or gaming developer, the extremely low cost of transactions allows you to design products accessible to more users.
2/9 Technology:
Solana uses a consensus algorithm called Proof of History (PoH) combined with Proof of Stake (PoS), which allows processing up to 65,000 transactions per second. This makes it one of the fastest blockchains.
The speed and scalability of Solana is ideal for high-demand games and DeFi platforms without congestion. #BlockchainTech
3/9 Culture:
The Solana community focuses on building an open ecosystem for developers and businesses. With events like Solana Hackathons, the project aims to support developers and create an innovative environment. #SolanaEcosystem
Example: At each hackathon, thousands of developers gather to launch new ideas in DeFi, NFTs, and more. It is one of the most active communities in the crypto space. #Hackathons
4/9 Partnerships:
Solana has important partnerships that have driven its adoption. Some of the most notable companies and projects include:
FTX: Before its collapse, FTX chose Solana for the development of its NFT marketplace.
Star Atlas: A metaverse game that uses Solana for its transactions and in-game economy.
Audius: A decentralized music platform that allows artists to share content using Solana to reduce costs.
Magic Eden: One of the most popular NFT marketplaces on Solana, allowing users to buy, sell, and create NFTs on the network.
These partnerships showcase Solana's versatility and its popularity in the gaming and NFTs space.
5/9 Trilemma (Security, Decentralization, Scalability):
Solana focuses on scalability and speed but has faced criticism for certain security and centralization issues. Some users believe that validation nodes are too concentrated, which could affect decentralization.
6/9 Profitability:
A year ago, the price of Solana (SOL) was $32.78. If you had invested $1,000 on November 18, 2023, today you would have approximately $7350, achieving a 7.35X return on your initial investment. Not bad, huh! #Solana #CryptoInvestment
7/9 Investment Alternative:
Solana is an attractive alternative for those looking for projects with high-speed applications, especially for DApps and NFTs. Its technology gives it a unique potential to scale and compete with other major blockchain projects. Watch out Ethereum.
8/9 Controversies:
Solana has faced several controversies, including network outages during times of high congestion and criticism regarding decentralization. Some believe that its focus on speed has compromised its resistance to attacks and technical failures.
9/9 Portfolio:
For me, Solana represents a high-risk investment but with potential. Its speed and scalability are innovative, but its technical problems and controversies must be considered. Personally, I see potential in its growth, but I keep a conservative percentage of my portfolio in SOL (5%).
Remember: this is not investment advice.
