Solana cryptocurrency what is it? The world of cryptocurrencies arrived in response to the financial crisis in 2008. First came bitcoin, which is currently the best-known virtual currency in the world.

Then, new currencies and new revolutions in the transaction system began to emerge. Despite the fear and some reports of scams and fraud, the cryptocurrency market continued to grow and became more accepted over time.

With this growth, there was a need to improve performance, the system itself and develop innovations that meet new demands.

This is how Solana, SOL, emerged, one of the most promising virtual currencies that is talked about so much today.

To find out everything about it, what it is, how it works and whether it is worth investing in, read this complete article.

The Solana cryptocurrency, or SOL, emerged in 2017. Despite being officially launched in 2020, its creator, Anatoly Yakovenko, started work on the project at least 3 years earlier.

The idea was to promote scalability and increase the usability of the protocol within the digital universe.

So, as we know, cryptocurrencies navigate the blockchain system and use cryptography to carry out decentralized transactions, that is, without the need for intermediaries in the process.

This allowed processes to become faster and less costly. 

The blockchain, in turn, operates as a public ledger where all transactions are recorded. However, the confidentiality of the parties or identities involved is maintained.

As with all innovations, improvements are sought over time. And it was with this objective that the Solana project got off the ground.

Thus, Solana concerns the blockchain platform. It operates in open source and allows the creation of smart contracts for various purposes such as non-fungible tokens (NFTs), decentralized finance (DeFi), metaverses and many others.

Its native cryptocurrency is called SOL. Furthermore, the entire process uses technologies such as Proof of history (PoH) and Proof-of-Stake (PoS) to have better and safer performance, too.

Therefore, nowadays, Solana ends up becoming a competitor to Ethereum, due to its agility and scalability in processes and transactions.

Solana is in almost every headline for the rapid way it has grown in the market since its creation. 

Because it has become a competitor to Ethereum and has allowed agility, scalability and lower transaction costs, SOL has attracted the attention of investors, whether small or large.

But, as with any digital medium, the big question concerns security. The world of cryptocurrencies still faces some regulatory issues.

Therefore, what we can say is what the network itself reveals. 

In short, since its launch, there have been no reports of failures or attacks on the network. 

As with any cryptocurrency, the decision to buy and invest in virtual currencies must be permeated by a lot of research and knowledge of the investor profile.

In other words, if you are conservative, cryptocurrencies will not be good investments, regardless of which currency you choose.

On the other hand, if your profile is more aggressive, investing in new and growing cryptoactives can guarantee the possibility of earning in the future.

However, keep in mind that it is a market that must grow amid competition and regulatory and safety issues.

The SOL cryptocurrency appears to be an asset with potential and attractive. Therefore, it is worth buying if you closely and extensively follow the world of virtual currencies. See how to do this in detail in the following article.