Solana explores new markets and raises $ 60 million
As you know, we regularly talk about innovative, breakthrough projects that are definitely worthy of your attention. This is useful for both potential investors and those users who are simply interested in the crypto industry and want to keep abreast of all market trends. That is why today we will tell you about a fundamentally new company, which is already known all over the world, but at the same time only at the start of its own path. So, the hero of our article is the Solana Foundation project. Without further ado, let’s get started.
What is this company
First of all, you need to understand the context. Only with an understanding of the essence and concept of the project, we can delve into the details. So first, let’s tell you what Solana does. This company operates on the principle of a non-profit organization. And the main area of activity is improving the Blockchain, unlocking its potential and real performance. The American project is working to create an innovative way of working for digital currency. It is called Proof of History and is strikingly different from all analogues. Unlike the classic Proof of Work and Proof of Stake, here we are talking about using an infinite resource – time. You no longer need to deal with the purchase of expensive equipment or the formation of serious capital. All that is needed to interact with the Blockchain is the simplest equipment. The system takes care of the rest of the work.
The principle is structured in such a way as to synchronize translations in time. Due to the correspondence of the translation data, a holistic system is obtained that is interconnected and autonomous. A fully distributed device eliminates privacy concerns. And the absence of any restrictions ensures the highest throughput. The potential of the Blockchain built on Proof of History reaches about 710 thousand transactions simultaneously. Already at this stage of development, Solana were able to overclock their distributed system to the indicators of Visa. Which is a record in the blockchain space. The benefits of scaling are also clear. We are talking about a flexible system that has no growth barriers.
How Solana Succeeded
It is obvious that such advanced and modern ideas will be of interest to potential contributors. That is why today, as part of the last fundraising, the project attracted about 60 million investments. The company found partners in many new countries. Among the states are Brazil, Russia, India and even Ukraine. Thus, Solana found support on two more continents and is not going to stop there. The funds received will be flexibly distributed and directed to the development of all areas of the project. Serious investments are expected in promoting the company, improving the product and ideological refinement of the concept of the organization.
The firm’s partners are modern projects from the cryptoindustry. Including distributed organizations of the new generation. And speaking about the partners of the project, one can draw conclusions about the degree of seriousness of the organization. The company is actively developing. These are the people who are already writing history today, shaping tomorrow and developing the industry.
We have no doubt that Solana will be a phenomenal success. This is just the beginning of an exciting journey that the project will take along with its partners and dedicated audience. That is why we strongly recommend that you independently study Solana, form your opinion about the company and make sure of the reliability of the organization.
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