SOL meaning in Cryptocurrency ?

Answer:

What Is Solana (SOL)?

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.

To learn more about this project, check out our deep dive of Solana.

The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

Who Are the Founders of Solana?

Anatoly Yakovenko is the most important person behind Solana. His professional career started at Qualcomm, where he quickly moved up the ranks and became senior staff engineer manager in 2015. Later on, his professional path shifted, and Yakovenko entered a new position as a software engineer at Dropbox.

In 2017, Yakovenko started working on a project which would later materialize as Solana. He teamed up with his Qualcomm colleague Greg Fitzgerald, and they founded a project called Solana Labs. Attracting several more former Qualcomm colleagues in the process, the Solana protocol and SOL token were released to the public in 2020.

What Makes Solana Unique?

One of the essential innovations Solana brings to the table is the proof-of-history (PoH) consensus developed by Anatoly Yakovenko. This concept allows for greater scalability of the protocol, which in turn boosts usability.

Solana is known in the cryptocurrency space because of the incredibly short processing times the blockchain offers. Solana’s hybrid protocol allows for significantly decreased validation times for both transaction and smart contract execution. With lightning-fast processing times, Solana has attracted a lot of institutional interest as well.

The Solana protocol is intended to serve both small-time users and enterprise customers alike. One of Solana’s main promises to customers is that they will not be surprised by increased fees and taxes. The protocol is designed in such a way as to have low transaction costs while still guaranteeing scalability and fast processing.

Combined with the longstanding professional expertise creators Anatoly Yakovenko and Greg Fitzgerald bring to the project, Solana is ranked number 7 in the CoinMarketCap ranking as of September 2021.

This came on the back of an impressive bull run, where Solana price gained over 700% since mid-July 2021. The launch of the Degenerate Ape NFT collection sent SOL price to an all-time high (ATH) above $60, and it has been climbing since, largely due to higher developer activity on the Solana ecosystem, greater institutional interest, growing DeFi ecosystem, and the rise of the NFTs and gaming vertical on Solana. Solana price rose to an ATH of $216 on Sept. 9, 2021.

Related Pages:

Read more about Steem.

Check out Marlin.

Learn more about Decentralized Finance (DeFi).

Curious about the crypto space? Read our educational section — Alexandria.

Want to keep track of Solana prices live? Download the CoinMarketCap mobile app!

Want to convert Solana price today to your desired fiat currency? Check out CoinMarketCap exchange rate calculator.

How Many Solana (SOL) Coins Are There in Circulation?

The Solana Foundation has announced that a total of 489 million SOL tokens will be released in circulation. At the moment, about 260 million of these have already entered the market.

The SOL token distribution is as follows: 16.23% went towards an initial seed sale, 12.92% of tokens were dedicated to a founding sale, 12.79% of SOL coins were distributed among team members and 10.46% of tokens were given to the Solana Foundation. The remaining tokens were already released for public and private sales or are still to be released to the market.

Solana price during the initial seed sale, held on April 5, 2018, was $0.04. Given the recent ATH, that represents an impressive 5400X return on investment (ROI).

How Is the Solana Network Secured?

Solana relies on a unique combination of proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms.

Proof-of-history is the main component of the Solana protocol, as it is responsible for the bulk of transaction processing. PoH records successful operations and the time that has passed between them, thus ensuring the trustless nature of the blockchain.

The proof-of-stake (PoS) consensus is used as a monitoring tool for the PoH processes, and it validates each sequence of blocks produced by it.

The combination of two consensus mechanisms makes Solana a unique phenomenon in the blockchain industry.

Where Can You Buy Solana (SOL)?

SOL tokens can be purchased on most exchanges. One choice to trade Solana is on Binance, as it has the highest SOL/USDT trading volume, $753,103,225 as of September 2021.

Next is Coinbase, with a trading volume of $343,872,841. Other options to trade Solana include FTX, Bilaxy and Huobi Global. Of course, it is important to note that investing in cryptocurrency comes with a risk, just like any other investment opportunity.

To check Solana price live in the fiat currency of your choice, you can use CoinMarketCap’s converter feature directly on the Solana currency page, or the dedicated exchange rate converter page. Popular Solana price pairs include: SOL/USD, SOL/GBP, SOL/AUD, SOL/JPY and SOL/EUR.

reference

Full Form	Category
Society for Organizational Learning	Academic & Science
Society for Organisational Learning	Academic & Science
Student Organization of Latinos	Academic & Science
Student Orientation Leader	Academic & Science
Solomon (ak)	Airport Code
Washington H Soul Pattison & Co Ltd	Business
Sola International, Inc.	Business
Small Outline Large	Business
Statistic Operator of Liquid	Chemistry
Sound Of Light	Community
Symphony of Life	Community
School of Life	Community
Standards Of Learning	Community
Servants Of the Light	Community
Sanctuary of Omni Love	Community
Star Of Life	Community
Sons Of Lucifer	Community
Success Opportunity Learning	Community
The Servants Of Light	Community
Standard Of Learning	Community
Standerd Of Learning	Community
Soldiers Of Lucifer	Community
Stories On-Line	Community
Slice Of Life	Community
Start of Line	Computer Assembly Language
Serial Over Lan (local Area Network)	Computer Hardware
Sierra On-Line	Computing
Small Out Line	Computing
Simulation Oriented Language	Computing
Standard Object Layer	Computing
Shared Object Layer	Computing
Sdl Object Layer	Computing
Spatial Object Library	Computing
Serial On Line	Computing
Serial Over Lan	Computing
Set Operations Language	Computing
Seems Only Likely	Computing
Server Optimized Linux	Computing
Sure Out of Luck	Computing
Solana	Cryptocurrency
SOL RUNE - Rune.Game	Cryptocurrency
Matra Prelude Solids	File Type
Game Solution File	File Type
Sign On Left	General
Survive Outdoors Longer	General
Summer of Love	General
Simply Out of Luck	General
Sadly Outta Luck	General
Staff of Light	General
Senior Open League	General
Short Of Luck	General
Stoked On Life™	General
Sustainable Organic Local	General
Sharing One Love	General
Seasonal Organic and Local	General
Sexy Overweight Lamb	General
Sounds Of Love	General
Smilling out loud	General
Sustained Organic Living	General
Standard Of Living	General
Sh*t Outta Luck	General
St Out of Luck	General
Safe Operating Limit	General
Subaru Of London	General
Pontiac Solstice	General
Simply Outta Luck	General
Solitude Of Lunacy	General
Satellite Of Love	General
Sword Of Light	General
Sons Of Liberty	General
Shadows Of Luclin	General
Sort Of Laughing	General
Save The Ozon Layer	General
Son Of Link	General
Sequence Object Linking	General
Strategist Orchestrator And Leader	General
Souls Of Light	General
Sage Of Lifism	General
Smiling Out Loud	General
Sore Out Of Luck	General
Satelite Of Love	General
Somewhat Out Of Luck	General
S*** Out of Luck	Governmental
Save the Ozone Layer	Governmental
Stark Out of Luck	Governmental
Statute Of Limitations	Governmental
SOLAN	Indian Railway Station
S*** Outta Luck	Internet
Sexy Old Lady	Internet
Sing Out Loud	Internet
Space Occupying Lesion	Medical
solutio - solution	Medical
Short On Looks	Messaging
Sooner Or Later	Messaging
Screaming Out Loud	Messaging
Soldiers of Legend	Military and Defence
Shit Out of Luck	Military and Defence
Shooting Out Loud	Military and Defence
Servers Off Line	Networking
System Outer Loop	Networking
Stratford Okahukura Line	Regional
Science Operations Leader	Space Science
Solar	Space Science
Solenoid	Space Science
Students of Lacrosse	Sports
Souls of Legends	Sports