If you follow the crypto market closely, surely this project has not escaped you: Solana (SOL) has recently shaken the market and has exploded until it is among the main cryptocurrencies. Discover in this article everything you need to know if you are thinking of investing in SOL.

Solana in a nutshell

Solana is not afraid to say that scalability is one of her top priorities. This is what we can read on its official website: “Solana is a decentralized blockchain built to enable scalable and easy-to-use applications for the world.”

As you may already know, it is possible to run applications on some blockchains, which are called decentralized applications (DApps). How? Let’s imagine that a blockchain was the operating system of your computer or smartphone (Windows, MacOS, Android, iOS, etc.) and that the DApps were running on it, like the normal applications of your devices. The Solana blockchain is one of those blockchains that support applications, but with speed and scalability of a higher level. Solana achieves this advantage over its competitors with the innovation of its proof-of-stake mechanism, its fragmentation (sharding) and everything necessary for the development of DApps.

Invest in Solana on Bitpanda

Solana’s superpowers

It is very simple:

Solana’s extraordinary speed allows applications on the blockchain to run faster than other applications on other blockchains. Performance is typically measured in transactions per second (TPS) – the higher this number, the faster the blockchain will be.

If more and more people started using these applications, they would slow down because they would cause congestion and the blockchain would not be able to keep up. You know, when your phone memory fills up, your phone and its applications slow down. Let’s say Solana is a phone with a memory that grows every time it is about to fill up and before it starts to slow down. This is where Solana’s great scalability comes in, that is, the ability to handle an increasing number of transactions by adding resources to the system.

Are you thinking of investing?

“Research is not for me, it is boring.” If this is the case, the next fifteen seconds of reading could make you change your mind. You do not need to immerse yourself in academic articles and technical documents to know if you should invest, although if you feel like it, we encourage you to do so. Researching before investing is essential. Here are four easy steps to follow:

Visit the official website of the project (in the case of Solana, solana.com ) and see what you think of the objectives and the status of the project.

Take a look at the price evolution. You can do it easily with the basic graphs from the Bitpanda website or in Bitpanda’s apps for iOS and Android.

Ask yourself what returns you are looking for: do you prefer higher returns, but more risky, or long-term results with lower risk?

Ask yourself the ultimate question: will this altcoin help me achieve my goals comfortably? Consider the numbers, but also take into account your opinion about the project.

Where can you buy Solana (SOL)?

At Bitpanda, you can buy Solana (SOL), literally, in just a few clicks from the web or app. Bitpanda’s interface is very easy to use and makes investing in cryptocurrencies and other digital assets affordable for everyone. You just have to register with Bitpanda and you can get started right away.

Go to Bitpanda’s Official Website