$SOL Part of the market links this rise to a possible manipulation prior to the unlocking of tokens, scheduled for the first half of May. On the other hand, critics point to alleged weaknesses of the project, such as inactivity in its official channels and the absence of solid fundamentals justifying its recent valuation.
In contrast, the momentum of Virtual Protocol has a specific reason: its listing on Binance.US. This fact has granted greater visibility to a project that proposes a decentralized infrastructure for the development of artificial intelligence agents. The VIRTUAL token, used within the ecosystem, can now be traded on this platform, with deposits enabled since Monday the 28th.
Solana (SOL) is a cryptocurrency designed to function similarly to Ethereum and improve upon it. Solana, named after a small coastal town in Southern California, is a creation of software developer Anatoly Yakovenko.
Yakovenko first proposed this innovative blockchain in 2017, and Solana was launched in March 2020. Today, SOL has become a popular cryptocurrency, ranking as the eleventh largest coin by total market capitalization.
The Solana blockchain uses a proof-of-history consensus mechanism. This algorithm uses timestamps to define the next block in the Solana chain.
Most of the early cryptocurrencies, such as Bitcoin and Litecoin, use a proof-of-work algorithm to define the blocks of their chains. This algorithm employs a consensus mechanism that relies on miners to determine what the next block will be.
However, this proof-of-work system is slow and resource-intensive, resulting in enormous energy consumption. This is one of the reasons why Ethereum adopted a proof-of-stake system, reducing energy consumption by 99.9%.
Unlike the previous proof-of-work mechanism, proof-of-stake uses staking to define