**1. Technical evolution: How Solana achieved 100,000 TPS**
**1.1. Architectural breakthroughs:**
- **Firedancer 2.0**: New client from Jump Crypto that increased throughput by 300%
- **Quantum-resistant signatures**: Protection against future attacks (upgrade Q1 2025)
- **Modular structure**: Separation of execution/settlement/data availability
**1.2. Real indicators:**
- **Peak load**: 124,000 TPS (testnet)
- **Average fee**: $0.0003 (compared to $0.001 in 2023)
- **Finalization time**: 0.6 seconds
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**2. Financial ecosystem: $30+ billion TVL**
**2.1. DeFi 3.5:**
- **Jupiter DEX v4**: Liquidity aggregator with 98% of the market
- **MarginFi 2.0**: Loans with 200x leverage and AI risk management
- **Drift Protocol**: Derivatives with $8B open interest
**2.2. New financial primitives:**
- **RWA tokens**: 37% of commercial real estate in Dubai tokenized
- **Synthetic assets**: Tesla, Apple, Brent oil
- **Cross-chain stablecoins**: USDC 2.0 with instant transfers
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**3. Institutional adoption: Who is really using Solana?**
**3.1. Corporations:**
- **Visa**: 58% of stablecoin payments (saving $2.1B in fees)
- **BlackRock**: Tokenized Money Market Fund ($5B AUM)
- **TikTok**: NFT subscriptions for 120M+ creators
**3.2. States:**
- **Singapore**: CBDC on modified Solana
- **Switzerland**: Digital francs for 38 banks
- **UAE**: Oil contracts as NFTs
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**4. Competitive landscape: Solana vs. Analogues**
**4.1. Key advantages:**
- **Speed**: 100x faster than Ethereum
- **Cost**: 300x cheaper than Polygon
- **Development**: Support for Python and JavaScript
**4.2. Weaknesses:**
- Centralization of validators (Top-5 control 28%)
- Limited privacy (no zk solutions like Aztec)
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**5. Risks and issues 2025**
**5.1. Technical:**
- Vulnerability in compressed transactions (July incident with $12M loss)
- Dependency on Jump Crypto (75% of infrastructure)
**5.2. Regulatory:**
- SEC classification of SOL as security (probability 45%)
- EU law on "decentralized identification"
**5.3. Economic:**
- Supply inflation (6.2% per annum)
- Dependency on venture funding
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**6. Forecasts and prospects**
**6.1. Pricing models:**
- **Conservative**: $250-$300 (P/S ratio 25x)
- **Optimistic**: $500+ (with mass tokenization of RWA)
- **Maximalist**: $1,000 (quantum upgrade + institutional FOMO)
**6.2. Technological roadmap:**
- 2026: Full quantum protection
- 2027: Solana OS for IoT devices
- 2028: Interplanetary payments (partnership with SpaceX)
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**7. Earning strategies**
**7.1. For traders:**
- Arbitrage CEX-DEX (0.8-1.5% daily yield)
- Volatility trading (VIX-like indices)
**7.2. For developers:**
- Creation of RWA protocols (grants up to $500K)
- Development of zk-applications (privacy + speed)
**7.3. For investors:**
- Staking (6-9% APY)
- Liquid farming (up to 60% APY in stablecoins)
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**"Solana is the Visa of Web3. When you pay, you don't think about the blockchain, it just works"** — Anatoly Yakovenko
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**Where to buy SOL in 2025?**
- **CEX**: Binance, Coinbase, OKX
- **DEX**: Orca, Raydium, Phoenix
- **P2P**: Solana Pay (0% fees)