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Analysis of Solana Cryptocurrency

Cryptocurrencies are a controversial topic in society, as their volatility puts their long-term validity into question. However, older blockchain coins have failed to deliver a scalable and secure currency that will be as decentralized as possible (Hamilton, 2022). Unlike Bitcoin and Ethereum, Solana has multiple advantages that make it a worthwhile investment. For this proposal, I would like to highlight the benefits of this cryptocurrency to a business university graduate.

Solana is not the newest cryptocurrency, yet it is one with the highest potential. Other blockchains possess a small capacity for transactions, as their operations per second make them unfeasible (Locke, 2021). However, this currency transfers faster and has incomparably small transaction fees (Farrington, 2021). An investment in Solana is a safer choice among cryptocurrencies, yet it has the potential to multiply one’s savings. Safety and speed of transactions are the reasons behind the high chances for future widespread usage of Solana (Hamilton, 2022). My proposed idea is to capitalize on Solana’s recent success on the market, as this currency was up 12000% in the past year (Locke, 2021). I think that this subject deserves more attention, as cryptocurrencies provide a unique take on financial interactions, yet their current state disallows companies to utilize them efficiently. Solana has the potential to overcome these barriers and turn into a globally accepted currency.

In conclusion, Solana is a cryptocurrency that is worth one’s attention, as it has several benefits that make it a better choice for investment than other similar coins. Its current solid position on the market and strong backing from a cryptocurrency community is a perfect indication of future prospects. It might be necessary to analyze Solana’s carbon footprint to prove its potential for a long-term success.

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