Solana is claimed to be an Etherium killer. One of the first things that attracts investors is that Solana is consistently affordable. Solana's scalability ensures that transactions for developers and users remain less than $0.01. 

This article will shed light on the hype surrounding Solana and will help you decide whether or not you should buy Solana in 2022.

Is the Solana-Hype Reasonable?

Solana is faster than any other cryptocurrency, and Solana claims it will be forever fast. Solana is all about pace, with 400 millisecond block times. Moreover, as the hardware improves, so will the network.

For developers, Solana is quite powerful. It allows everyone to progress quickly. Solana is a decentralized blockchain designed to enable globally scalable, user-friendly apps. Solana is the world's fastest blockchain and the fastest-growing crypto ecosystem, with dozens of projects spanning Defi, NFTs, Web3, and more.

Why is Solana Better than Others?

Most of us are fed up with excessive fees and delayed transactions. While public blockchains have enabled anyone with an internet connection to develop and access digital markets, the global financial system has the potential to become more efficient, innovative, and democratic.

But there's a problem: old blockchains don't scale! Thus, the crypto apps built on top can't either. As usage has grown, so have transaction costs and wait times, preventing crypto ecosystems from achieving their full potential. This is where Solana enters into the picture!

The Solana blockchain is extremely quick and low-cost, with average fees of less than a penny per transaction.

Finally, Solana enables developers to experiment rapidly and launch programs by utilizing composable building blocks without dealing with the added friction created by sharding or fragmented layering two systems.

Solana resists censorship and scales as its ecosystem expands to billions of users worldwide. This implies that the network will remain open for apps to run freely, and transactions will never be halted.

Solana is unstoppable now and in the future, so say goodbye to delayed transactions and excessive fees and hello to Solana, where you can construct your cryptocurrency.

What is the Scaling opportunity for Solana?

Scale once for global adoption and never worry about scaling again. Solana provides ecosystem project composability by keeping a single international state as the network scales.

It allows you to avoid sharded or fractured Layer 2 systems. Solana is unstoppable and dispersed. Moreover, it is not only fast and cheap but also censorship-resistant. In other words, the network will stay open for applications to function freely, and transactions will never be halted.

Why is Solana So Popular Among Crypto-enthusiasts?

It is fair to be concerned about the performance of Solana (SOL) in 2021, given that it has evolved into one of the best-performing cryptocurrencies. As a result, it has risen to the top ten cryptocurrencies in market capitalization.

Surprisingly, it has exceeded Dogecoin and Polkadot in market capitalization and now competes with XRP. Solana is extremely popular in the cryptocurrency community and beyond due to its extensive functions as a programmable blockchain. The inclusion of excellent technologies such as smart contracts adds to why it is so popular. 

Smart contracts are the best since they can be programmed to take specific actions when the contract's requirements are met.

Another reason why many individuals now favor Solana is because its network can handle up to 60,000 transactions per second. The cryptocurrency is now one of the world's fastest programmable blockchains. According to experts, it can process over 50,000 transactions per second.

Solana's feat beats the aggregate performance of Bitcoin, Visa, XRP, and Ethereum. Furthermore, the Solana blockchain has considerably lower costs, with rates typically hovering below $0.00025 per transaction.

Future Potential for Solana

Solana, presently one of the most popular cryptocurrencies in the world, has the potential to improve in the coming days. One of the features that makes it a suitable long-term investment is its support for programmable blockchains. Its blockchain is expected to grow further, bringing additional challenges to the Ethereum network in the future.

Because of the restlessness of its creators, who continue to innovate and strive for more significant improvements, Solana will continue to nibble into Ethereum's market share. Based on the current rate of increase, economists expect that the price of Solana will surpass $1,000 in the coming months. SOL could reach the $3,500 price of ETH in the next five years.

This has sparked the interest and curiosity of my crypto investors. Because of the pace of the mining model, many investors are currently focusing on Solana. It is undoubtedly one of the Smart Contract platforms of the future to keep an eye on. Remember that trading cryptocurrency entails high risk, with losses exceeding deposits.

Final Thoughts

Solana's meteoric rise is linked to the current hot NFT. Last month, Solana launched a new NFT market called Lollapalooza, featuring forthcoming products from artists like Steve Aoki. 

BurntFinance, a decentralized auction system based on the Solana chain, announced on August 10 that it would form a SolanaNFT alliance with several ecological projects to promote common standards among Solana-based enterprises. 

According to BurntFinance, a significant component of Ethereum's success is adopting standard technical measures (such as ERC20 and ERC721) by large projects across the whole ecosystem. 

Solana lacks such a standard, and if it is not implemented, it will be impossible to sustain its rapid expansion. BurntFinance, Phantom, Bonfida, AustinVirtis, Metaplex, and Solarians are among the first SolanaNFT alliance members.

The most obvious explanation is that in August, the non-homogeneous token project Degenerate Ape Academy was established on the Solana blockchain. The price of SOL has grown dramatically since the debut of the NFT initiative.