Cryptocurrencies are booming becoming a relevant digital currency today to such an extent that some companies and States have encouraged its use despite not having any guarantee or regulation. Among the innumerable cryptocurrencies that have emerged, a few stand out, among them solarium.
Known in the cryptocurrency market by the acronym SOL, solana was founded in 2017 by Anatoly Yajovenkoboasting a high performance on your transactions and short processing times performing around 50 thousand transactions per second, becoming one of the fastest in the market.
In addition to its speed, solana promises low transaction costs due to its scalabilitykeeping them under $0.01 for both developers and users.
The solana native token is mainly used to make stake (which consists of acquiring cryptocurrencies and keeping them blocked in a digital wallet obtaining rewards) and pay transaction fees having a limited supply, while burning half of the SOL used in each commission to maintain a set level of inflation each year.
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cryptocurrencies they are ceasing to be extraneous elements and have begun to enter the language of everyday life, arousing the interest of those who are concerned about finances or even to the point of being legalized in some regions of the globe.
As the name implies, digital currencies use cryptographic or encryption methods to carry out transactions in a decentralized system and, most of them, through block chains (blockchain), which distances it from traditional models in which banks act as intermediaries.
Its innovation has caused many people to be interested in investing in the coins digital, as its value has increased considerably in recent years being bitcoin, ethereum and dogecoin the most popular and those with the highest capitalization in the market.
Each of these units are founded through a process called “mining” and users can acquire them through different cryptocurrency agents or exchanges, and then store them in “cryptographic wallets” or make various transactions with them by means of unique keys.
Although it was in 2009 when bitcoin entered the market as the first cryptocurrency in the worldthe truth is that these are just experiencing a boom in the financial field, so their use is expected to increase in the not so distant future.
Cryptocurrencies have several factors that make them unique: not being regulated by any institution; not require third parties in transactions; and almost always use accounting blocks (blockchain) to prevent new cryptocurrencies from being created illegally or transactions already made from being altered.
📷 Presentation of a bitcoin ATM in San Salvador, El Salvador. June 24, 2021. (PHOTO: REUTERS/Jose Cabezas)
However, by not having regulators such as a central bank or similar entities they are pointed out as being unreliable, as being volatileencourage fraud, not have a legal framework that supports its users, allow the operation of illegal activities, among others.
Although it could be a paradox, cryptocurrencies in turn guarantee security to their miners in terms of the network in which it is located (framework) and that implies code management; hacking this security is possible but not so easy to achievebecause whoever tried it would have to have a computational power even higher than that of the computer itself. Google.
Who invests in this type of digital assets must be very clear that this form brings with it a high risk to capitalWell, just as there can be an increase, it can also have an unexpected crash and end the savings of its users.
To store them, users must have a digital purse or wallet, which is actually a software through which it is possible to save, send and make transactions of cryptocurrencies. In reality, this type of wallet only stores the keys that mark the ownership and right of a person over a certain cryptocurrency, so these codes are the ones that must actually be protected.