With SOL as its native token, Solana is a public blockchain, launched in 2018 by Anatoly Yakovenko and Raj Gokal that works on the basis of Proof-of-Stake (PoS) combined with Proof-of-History (PoH), which allows extremely fast transaction processing. It offers very low fees, especially when compared to Ethereum and is highly scalable with it being able to offer thousands of transactions per second which in turn makes it very popular for DeFi apps, NFTs, and Web3 projects. Consequently, it has drawn a lot of institutional interest and is expected to grow as the blockchain matures.

While analysts are divided on the future of Solana the general view is bullish, with Wallet Investor predicting that it could even hit as much as $900. Yesterday, a quick check showed that it was at $156.77 (I actually wrote this “yesterday” when I had time) so we are talking a sixfold increase. However most predictions suggest a more realistic price of somewhere between $500 and $600 in the mid to long term.

Not that it is without its challenges. The market is getting increasingly crowded and other Ethereum Layer-2 solutions such as Arbitrum and Optimism offer strong competition which could limit Solana’s future. As always and with all crypto its future very much depends on which way the wind blows concerning regulation, particularly coming out of the US (BTW who made them the world authority on crypto regulation it seems that whatever SEC decided the world does!). There are question marks over its network stability especially following the 2021 crash and with a large market cap it is unlike to see explosive gains like early Bitcoin did.

I must admit when I first came across Solana, I thought it was yet another pointless meme coin that was going to get pumped and dumped and what has piqued my interest is that Coinbase is now staking and I have a modest amount on there with a future plan to develop it even further. One thing I am sure of now is that it is not a scam and that it is a legitimate blockchain with strong fundamentals and the expectation for it is positive and bullish.

However this is just my view, admitted with my own research but please don’t take this as investment advice and always DYOR!

So, as promised, short and sweet today hence my use of the phrase few words rather than a few words (non-native English speakers often don't know the difference here).

As always stay safe and well my friends.