Solana – Potential Crypto Rating

What is Solana Coin (SOL)?

Solana (SOL) is the official token of the highly scalable blockchain platform Solana.

Purpose of SOL in Solana Platform:

  • Fees: SOL will be used to pay fees in Solana’s blockchain network such as transactions fees, smart contract fees, etc.
  • Rewards: SOL is used as a reward for Stakers/Nodes to ensure the stable operation of the network.
  • Governance: SOL will be used for future governance voting.

Today’s SOL Basics:

What is Solana?

While, Ethereum 2.0 is not yet complete, Layer 2 projects are seen as bright spots but none can really dominate the market. Even other high-performance blockchains like Quark Chain, Zilliqa…etc.

This creates an opportunity for which blockchain platforms can meet the following criteria:

  • High scalability, low latency, low fees, clear scaling solution.
  • There are execution environments and tools that make it easy for developers to build a foundation on top of a database.
  • Reduce application/sharding/layer 2 complexity to a minimum.
  • Backward compatibility and continued stability into the future.

That makes Solana a high-performance blockchain platform that is scalable up to 65,000 TPS (transactions per second) and 400ms block time without the need to adopt complex solutions like “Sharding” or Layer 2.

How does Solana solve the problem?

To achieve high scalability, Solana had to combine the following 8 functions:

  • Proof of History (PoH) solution.
  • Tower BFT consensus mechanism: a PoH version of the PBFT consensus mechanism.
  • Turbine blockchain transmission protocol.
  • Gulfstream mempool-less transaction forwarding protocol.
  • Sealevel parallel transaction processing engine.
  • Pipelining transaction processing unit.
  • Cloudbreak Horizontally Expanded Storage.
  • Archives data Archivers.

As expected, Solana is fully meeting those criteria:

  • Highly Scalable: Solana currently supports over 50,000 transactions per second. Also maintain a block time of 400 milliseconds without the need for complicated solutions like before.
  • Low latency: about 1 second.
  • Low Fees: The average cost is about 10$ for 1 million transactions.
  • Top programming language: Rust (also supports C, C++ and Libra’s Move).

What is Proof of History (PoH)?

Proof of History (PoH) is proof of time that verifies the time and sequence of events.

Solana PoH
Solana PoH

The historical proof is a high frequency delay verification function (VDF-Verifiable Delay Functions). This means that the function requires several sequential steps to evaluate and produces a unique and reliable result that is then made public.

Solana’s specific implementation uses a sequential hash that runs continuously with the previous output used as the next input.

For the above reasons Solana is able to create a “Clock” that is synchronized across the network.

Roadmap and achievements


  • Quarter 1: Release of Whitepaper.
  • Q2: Private Testnet release.
  • Q3: Release of Payments SDK and Smart Contracts SDK.


  • Quarter 1: Online program release.
  • Quarter 2: Deployment of Move virtual machine developed by Libra. Multi-region, multi-cloud testnet release. Released Smart Contracts Engine.
  • Q3: Released Incentivized Testnet.

1st quarter of 2020:

  • Released an improved version of the JSON RPC API.
  • Mainnet Beta.

2nd quarter of 2020:

  • Release of Smart Contract features.
  • Binance goes public.
  • Enable token inflation and transaction fees.

Learn more about the SOL whitepaper: here.

Solana Ecosystem

  • civic: It is a decentralized identity ecosystem that allows for identity verification in a secure and cost-effective manner. Civic partnered with Solana to integrate their decentralized identity solution.
  • Hummingbot: Hummingbot is working with Solana to integrate their Liquidity Mining solution so miners/traders can earn fees by providing liquidity to Solana on various exchanges.
Partner Solana
Partner Solana
  • Chainlink: Together with Chainlink, Solana intends to develop a high frequency Oracle that can be used for binary options trading.
  • Akash: Akash is integrating its serverless super server infrastructure into Solana to allow users to easily deploy powerful and low-cost servers to run nodes or scale their applications.
  • LoanSnap: LoanSnap is integrating its HomeCoin token into Solana to provide users with a way to earn rewards for HomeCoin holders in exchange for providing liquidity for loans.
  • Fortmatic: Fortmatic integrates its SDK into Solana to provide easy-to-use alternatives to web3 wallets (MetaMask) for end users and developers.
  • dFuse: dFuse is implementing its API solution into Solana to allow developers to build and maintain performance applications easily on top of the protocol.
  • Pocket Network: The project will be integrated with Solana to help enable a new, censorship-resistant web3 stack.

Investment funds

Solana is invested by large VC funds such as Multicoin Capital, Slow Ventures, Foundation Capital…

Solana investment funds
Solana investment funds

Solana’s development team

With the convergence of many talents in the field of high technology, especially security technology, Solana’s development team has created a wonderful and extremely innovative product. Specifically, this team includes famous names in the crypto industry:

  • Anatoly Yakovenko: The leader of the project Solana, he holds the position of CEO. It can be said that he was the first person to create and develop Solana. He is a person with extensive experience in operating system development. This has been demonstrated by the fact that he has held leading positions in operating system development companies at Qualcomm. Or more famous systems are the compressed decentralized system at Dropbox and at Mesosphere.
Solana Development Team
Solana Development Team

In addition, he has created and holds 2 patents in the field of protocol development for high-performance operating systems. He is also admired by the technology world for helping Project Tango Successfully deployed on Qualcomm phone.

  • Raj Gokal: He holds the position of scientific director of Solana. He was named the leader in data science and tokens in economics. He is one of the few experts in the field with a PhD at Columbia. Is a famous particle physicist at Berkeley.
  • Greg Fitzgerald: He is Solana’s CTO holder. Participating in the project, he made breakthroughs in embedded systems when he discovered many new points in this system. Using those new discoveries, he created a link for the BREW operating system through a two-way RPC link between Lua and C. His innovation helped launch the ARM backend system. serve the compiler toolchain of LLVM.

Accompanied by an experienced team from big companies like Google, Apple, Intel, Twitter, Dropbox, Microsoft…etc.

Token Allocation

Solana’s total initial supply is 500 million SOL and is allocated in installments below:

Token Sol Allocation
Token Sol Allocation
  • 16.23% sold through Seed Sale.
  • 12.92% was sold in the Founding Sale round.
  • 5.18% sold in Validator Sale round.
  • 1.88% sold through Strategic Sale.
  • 1.64% sold through auction on CoinList.
  • 12.79% is held by the development team.
  • 10.46% belongs to Solana Foundation.
  • 38.89% as a budget for Community activities.

Token Sales

Solana raised $25.55 million after several rounds of token sales between April 5, 2018 and March 23, 2020.

Token Sale
Token Sale

The details of each round are as follows:

  • Seed Sale: Solana sold 16.23% tokens to successfully raise $3.17 million at $0.04 per token since April 5, 2018.
  • Founding Sale: Selling 12.92% of total token supply at $0.2/SOL, Solana raised $12.63 million.
  • Validator Sale: July 2019 Solana successfully raised $5.7 million or 5.18% of the total token supply at $0.225/SOL.
  • Strategic Sales: Sell 1.88% tokens at $0.25/SOL and raise $2.29 million.
  • CoinList Sale: $1.76 million successfully raised via auction of 1.64% tokens with an average price of $0.22/SOL.

Token Release Schedule

Solana’s initial circulating amount was 16,350,633 SOL (3.27%) and 11,365,067 SOL (2.27%) tokens were burned and removed from the supply.

Token Release Schedule
Token Release Schedule

Thus, Solala will vesting 472,284,300 SOL (94.46%) as follows:

  • Token Sale: 100% token vested on 07/01/2021.
  • Team: On January 7, 2021, team tokens will begin to be unlocked with a token amount of 31,250,000 SOL and the remaining ½ of the tokens will be vested gradually over 24 months.
  • Community: Start Vesting from 01/05/2020 with 8,000,000 SOL per month and end on 07/01/2021.
  • Foundation: Fully unlocked on 07/01/2021. Fully unlocked on Jan 7th, 2021.

Thus, on January 7, 2021, Solana’s total unlocking volume (SOL) is 91.47% excluding inflationary rewards.

Attention: All figures above are based on Initial Total Supply – 500 million SOL. SOL’s Max Supply will reach 1 billion tokens within 10 years.

SOL . storage wallet

SOL can be stored on listed exchanges such as: Binance, MXC, …

Or on wallets like Trust Wallet or Ledger Nano X and Ledger Nano S.

Solana also has Command-line Wallets (but inconvenient because it requires high programming skills).

In addition, due to the same integration with the Proof of Stake (PoS) platform, SOL can also use stakes to earn profits.

  • Note: This article is for informational purposes only about Solana (SOL) at this time and should not be considered investment advice. Cryptocurrency investment is a risky form of investment, it takes a lot of knowledge and skills to be able to make money from this market. If you are interested in the article please leave a comment below the support team will contact you.

Technical analysis

After a strong increase from the first span, SOL showed signs of a downward correction to the area corresponding to the Fibo-based retracement zone.

After a short period of time, SOL has shown signs of recovering, maybe the correction has ended, forming a good support area, long-term growth target when surpassing this old and new peak, SOL will start an uptrend. strong phase 2 in this uptrend market.

Long-term vision

Year Mid-Year Year-End Tod/End, %
2021 $48.96 $102.76 +620%
2022 $121.50 $155.08 +986%
2023 $164.66 $165.94 +1.062%
2024 $197.44 $208.17 +1.358%
2025 $198.81 $177.88 +1,146%
2026 $217.16 $261.12 +1.729%
2027 $282.68 $304.90 +2.035%
2028 $277.02 $302.99 +2.022%
2029 $326.27 $292.13 +1.946%
2030 $310.55 $348.26 +2,339%
2031 $388.54 $431.44 +2.921%
2032 $477.00 $525.27 +3.578%

If this article brings useful information, please share it with everyone so they can all know.


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