The new crypto kid on the block that's eating everyone’s lunch

Solana is built for speed and can execute more than 50,000 transactions a second. Bitcoin and ethereum process five and 15 transactions a second, respectively. Visa’s payment network is said to process more than 1,700 a second on average. Faster transaction processing speeds are necessary for projects rebuilding the financial system as we know it through decentralised blockchain-based applications.

Ultra-low fees: Solana offers far lower fees compared with what many other similar blockchain networks are charging ethereum transaction fees are more than 200 times more expensive compared with the same transaction on the solana network.Solana’s blockchain ecosystem has grown rapidly and is seeing strong adoption. In fact, solana has grown 130% in its projects over the past few months . Solana’s total value locked in smart contracts is now more than $3.5bn, growing 200% in August.

NFTs are thus one-of-a-kind assets in the digital world that can be bought and sold like any other piece of property. The digital tokens can be thought of as certificates of ownership for virtual assets or physical assets . With the NFT market hitting new highs in 2021, with more than 30 times the sales of 2020, it is clear why the blockchain networks facilitating these transactions have received increased attention.Investing R1,000 in solana would have translated into +R49,270 over the past 12 months. This is a substantial return compared with any alternative investment. This return on investment is more than 10 times greater than an investment in bitcoin over the same period .

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