Coin highlights: Solana

SOL (Solana) as Large-cap Coin is 60th in the 2100NEWS ranking. The quality of the order book of SOL is Ordinary. The average quality of the order book for large caps members of the NWSL100 index is 17.1. What is the true value criterion in the crypto world?

*Among all, the price is always at the forefront. By comparing with the index, we can gauge the price-performance with similar digital assets that are members of the index. Considering an investor’s point of view, peer comparison should be efficient and effective. We present you tokens that are worth keeping in mind.

About coin

SOL has been launched in 13 exchanges.

Solana as Large-cap Coin is 60th in 2100NEWS ranking (after Index Review of 20th November 2020). It is an Index member: NWST1100, NWSL100, NWSCo100, NWSDM100.

2100NEWS DA Orderbook Quality Evaluation Grade: Ordinary, Score: 16.9, (Average for Large caps: 17.1)

Over the past week, the average market cap was $95 million; the average daily volume was $15.2 million.

In this section, we will examine how the market, with price changes, evaluates project progress. It seems important to us if the project is outside of the usual tide of crypto project prices. To make an appropriate peer comparison, we gauged the SOL (Solana) with 2100NEWS DA Coin Index (NWSCo100).  On average (violet area chart), the relationship between SOL to NWSCo100 has shown that it was weaker over the last three months. It has underperformed NWSCo100 by 68%. So, if we compare the SOL green area graph with the orange index area graph while observing the correlation graph, the correlation graph explains that the correlation is weak and negative (Pearson’s correlation coefficient = -0.27). However, 60% of the time, it was moving in the same direction as the NWSCo100. So, it has been a poor representative of the NWSCo100 index in terms of price changes.

*The chart below shows the SOL compared to NWSCo100 at the top, the box in the middle of the chart shows the original SOL price, and at the bottom of the chart, we see NWSCo100 and the correlation between  SOL and NWSCo100.

2100NEWS observation:

This year, they have agreed on quite a few important partnerships to complement their products. By building on Solana, an important project called Serum (a new high-speed, non-custodial DEX) was done by FTX and Alameda Research. The serum is a complete, non-custodial spot and derivatives exchange running on an on-chain central limit order book (CLOB) on Solana’s mainnet. At Solana, they are also aware of the importance of community. Their community is globally distributed; that’s why they communicate with them through various social networks. They have 97.2K followers on Twitter.

About Solana- what they do

Solana is an open-source project implementing a new, high-performance, permissionless blockchain.

A Solana cluster is a set of validators working together to serve client transactions and maintain the ledger’s integrity. Many clusters may coexist. When two clusters share a common genesis block, they attempt to converge. Otherwise, they simply ignore the existence of the other. Transactions sent to the wrong one are quietly rejected.

Fast, reliable synchronization is the biggest reason Solana can achieve such high throughput. Regarding the synchronization of blockchains, Solana decided on a different approach, using the so-called Proof of History or PoH. Leader nodes “timestamp” blocks with cryptographic proofs that some duration of time has passed since the last proof. All data hashed into the proof most certainly have occurred before the proof was generated. The node then shares the new block with validator nodes, which can verify those proofs. The blocks can arrive at validators in any order or even could be replayed years later. With such reliable synchronization guarantees, Solana can break blocks into smaller batches of transactions called entries. Entries are streamed to validators in realtime before any notion of block consensus. Solana technically never sends a block but uses the term to describe the sequence of entries that validators vote on to achieve confirmation. In that way, Solana’s confirmation times can be compared apples to apples to block-based systems. The current implementation sets block time to 800ms.

Solana is building the fastest blockchain in the world. Every day, they solve problems of scale, decentralization, and privacy to create the best experience for blockchain users and developers.

Solana supports several types of wallets in the Solana native command-line app as well as wallets from third-parties.

General information

Solana is based in Geneva, Switzerland. The core team consists of Anatoly Yakovenko (Founder and CEO) and Greg Fitzgerald (Co-founder and CTO).

Exchanges: Bilaxy, Binance, Binance.US, Bithumb Global, BitMax, FTX, FTX US, Gate.io, Hoo, Hotbit, MXC.COM, OKEx, Serum DEX.

Website:     https://solana.com/ 

You can follow them:     Discord    Reddit    Twitter

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The Crypto Highlights are considered the opinion of 2100NEWS, and the material is for informational purposes only, and 2100NEWS is not soliciting any action based upon such material. The material is not to be construed as an offer or a recommendation to buy or sell a security, nor is it construed as investment advice. At the time of this article’s writing, the author did not hold any tokens SOL.