Solana is a third-generation blockchain built to enable the creation of smart contracts and decentralized applications (DApps). It supports a variety of decentralized finance (DeFi) platforms and non-fungible token (NFT) marketplaces. The blockchain itself was founded in 2017, while its native token, SOL, launched in 2020.
The main aim of this project is to function like the Ethereum blockchain while fixing some of its main problems, especially how it scales to handle a lot of users and how fast it can process transactions.
It uses a new kind of agreement method that blends Proof-of-History (PoH) with a special kind of Proof-of-Stake. Solana co-founder Anatoly Yakovenko published a white paper in November 2017 describing the proof-of-history (PoH) concept.
This lets it handle more than 710,000 transactions every second without requiring additional scaling. PoH works by making a series of calculations that create a digital log. This helps confirm the time at which a particular event took place.
The SOL token is Solana's native cryptocurrency and utility token. It serves as a means of transferring value while providing blockchain security through staking. In addition, users can receive rewards and pay transaction fees. Further, SOL enables users to participate in governance.
Solana's system is designed to show how a group of computer programs can work together to get rid of delays in performance when used with a blockchain. This combination lets the number of transactions processed per second grow as the network's data transfer rate increases.
Solana's architecture has all three important qualities needed for a good blockchain: it is scalable, secure, and decentralized. The architecture can handle up to 710,000 transactions per second on a regular internet connection. This can increase to 28.4 million transactions per second on a faster, 40-gigabit connection.
Solana's blockchain works using two consensus mechanisms to agree on transactions: proof-of-history (PoH) and proof-of-stake (PoS). With PoS, validators check and approve new entries in the blockchain’s record. They can do so based on the amount of Solana’s currency they own. PoH, on the other hand, lets transactions be marked with a timestamp and checked very quickly.
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As markets keep very strong, despite the binance-case, there's no reason anymore to be partially out of the market in stables, as everything could start to go crazy at any time with an etf-approval.
The threathening head and shoulders topping formations in coins like $SOL got invalidated as well. Positive sign!
We decided the buy back alts that sold off since our last profit-taking and we were very happy to see $INJ and $RUNE in the red. We increased our stake in both. 🚀🚀🚀
As the bull seems ready for another upleg after the recent small correction, we reposition more agressively.
We readded outperforming $SOL and we added the star of this bullmarket so far $RUNE.
We sold $XRP as it continues to disappoint. We still think $XRP might be one of the best performers of this bullmarket, but it is hard to trade due to its history of big spikes that are sold off immediately. We wait for a solid uptrend in $BTC value that we can trust before investing back in $XRP.
We still expect $ETH to outperform $BTC from here and we think the narrative of the $BTC spot-ETF approval will quickly change to the $ETH spot ETF approval. That's why we increased our stake in $LDO as well.
Let's go! 🚀🚀🚀
Dear valued clients,
We would like to inform you that on November 20, 2023, we will be automatically executing a rebalancing of the Digital Asset Array (DAA) within the Crypto Assets DAA strategy.
The current active DAA structure will be as follows:
Dear valued clients,
We would like to inform you that on November 18, 2023, we will be automatically executing a rebalancing of the Digital Asset Array (DAA) within the Crypto Assets DAA strategy.
The current active DAA structure will be as follows:
