Solana (SOL)
Market Cap: $133.83 billion.
Current Price: $274.
It is a decentralized blockchain platform created primarily for scalability, and it is one of the fastest blockchain networks in the market, with transaction speeds of nearly 65,000 transactions per second. It achieves this through a unique consensus mechanism (Proof of History) that allows nodes to synchronize time across the network.
Pros
It is considered one of the fastest blockchains in the market, making it very popular among investors as it can support over 65,000 transactions per second compared to around 15 transactions for Ethereum.
The platform also enjoys very low transaction fees, averaging $0.00025 per transaction.
Cons
The Solana network has experienced multiple outages that have made it unreliable for its users. For example, the network was down for 5 continuous hours in February 2024, according to 'US News'.
The extreme volatility of the Solana coin indicates that it is still a high-risk speculative investment at this stage, according to the previous source.