Some analysts call Solana the most promising project of our time. Others note that the behavior of the SOL coin is largely dependent on general market sentiment, so presumably key downward or upward price trends can be identified.
This development is representative of the new generation of decentralized digital assets. The key features and positive dynamics are that the cryptocurrency exhibits a throughput of up to 60,000 transactions per second (TPS), security, and a unique Proof of History algorithm. Scalability is also available.
The creators of the system claim that up to 710,000 TPS will already be processed simultaneously in the near future. The price is gradually increasing, but there are no sudden shifts. This is all due to an excessive interest in DeFi.
Analysts say that the upside potential of the project is optimal because the following factors make for \this:
- The continuous growth of the community and the number of active users;
- Increase of Solana’s market share in NFT, DeFi, and smart contracts;
- Continuous expansion of the number of partners and users through one-of-a-kind speed figures, as projects value their own agility.
It is worth noting that the coin itself does not necessarily reflect the development of the entire ecosystem, which is currently still at a low level of maturity and shows unique prospects for growth and further development. Cryptocurrency has had problems with network stability and security. Its blockchain has been shut down 12 times in 2022.
Ethereum, Dogecoin, and Solana are among the most traded cryptocurrencies and continue to attract significant investor attention. Dogecoin price predictions by crypto experts claim that in the next 5-10 years Doge is getting ready to break out above $1 while Solana`s estimations demonstrate that SOL can be worth $1,790 per coin in 10 years’ time.
Solana’s outlook is quite interesting, as the project is now considered a direct competitor to Ethereum. This provides a unique velocity profile that will keep up increasing. But what about Syscoin, which is predicted to have similar days to come? Syscoin cryptocurrency is becoming increasingly popular today, with many users believing it has the potential to become a second Ethereum. Despite the fact that both platforms have a lot in common: high performance and speed, low fees, and smart contracts, these cryptoprojects are completely different in their architecture. Today, SOL vs SYS is well ahead in terms of popular appeal and market capitalization. Solana project is already home to many well-known DeFi applications such as Serum, Raydium, Solanart, etc. Solana has a powerful and devoted community, and influential partnerships, and provides a wide range of services. However, Solana developers are trying to fit all innovative technologies into one blockchain, without dealing with sharded chains and second-tier scaling solutions. As practice shows, this approach is difficult to implement, and the Solana blockchain has been experiencing frequent congestion and failures lately. Syscoin, on the other hand, is just moving into top gear and still has a thorny road ahead. Developers say Syscoin aims to motivate developers to migrate their decentralized applications from Ethereum to Syscoin blockchain.
Solana`s success and promising outlook are borne out by virtue of the fact that the development continues to follow its own algorithm. Global trends could have a global impact on this situation. The fall of the digital market in 2022 has forced many to reconsider and adjust their strategy. At the same time, Solana is an attractive digital asset because it is backed by large funds and the developments being implemented are unparalleled. The high practical value makes the coin in demand for regular use. If the developers plan to move to veModel or lock-up, it will strengthen the position of the crypto-asset much more.