Is Solana the new Bitcoin?

Some cryptocurrency experts and investors claim that Solana (SOL) will be the next Bitcoin and that it’s currently undervalued by the market.

Is Solana (SOL) the new Bitcoin? Let’s look at its qualities and possibilities to see if we can make an educated prediction about this cryptocurrency’s future prospects.

What is Solana?

If you’re involved in cryptocurrency, or even if you’re not, chances are you’ve heard of blockchain scalability. More specifically, you probably know that there are many blockchain platforms in development—with one target being a world computer.

But what is blockchain scalability and why does it matter to potential investors and users?

To help explain, I turn to David Vorick—CEO of Sia and co-founder of Nebulous Labs—who has spent much of his career working on distributed systems for resource management. The first time I met David was in 2014 when he was designing a prototype for a world computer at MIT.

Since then, he’s worked as an engineer at Google and founded Sia, which raised $1.9 million from VC firms Fenbushi Capital and Raptor Group (and other angel investors). In 2017, Nebulous Labs launched Obelisk—the first ASIC miner for Siacoin (SC)—which sold out within minutes.

On July 17th, 2018, Vorick announced that SC had reached 100 petahashes per second (PH/s) — making it one of only three cryptocurrencies with more than 100 PH/s (Bitcoin = 13 PH/s; Ethereum = 120 PH/s).

Why Should You Care About It?

While cryptocurrencies, like bitcoin, are often associated with black market transactions (you know, drugs and such), there are plenty of legitimate uses for digital coins.

There’s a lot to learn about cryptocurrencies, so if you haven’t yet started dipping your toes into that world it might be helpful to read up on what all is going on in blockchain.

The bottom line is that people who hold cryptocurrencies are being given a chance to do something potentially life-changing: profit from their investments without having to cash out or give anyone their personal information.

It's almost like finding a way to get rich without getting up from your couch - except instead of winning some money from an infomercial you're actually making money in real-time.

How Will it Affect My Life?

If you’re not a cryptocurrency enthusiast, then you probably haven’t heard of Solana. But that’s changing fast as they begin to venture into uncharted territory that could potentially change everything from how we buy products online to how blockchain technology works.

In fact, there are several changes coming up that involve some exciting projects for blockchain development in general that are worth keeping an eye on in 2018. And one of those is Solana—and it could fundamentally change what it means to be a blockchain developer and more!

So let’s take a look at what Solana has to offer and why it might be your next big investment opportunity.

There are many reasons why Solana holds such promise but here are just five. First, their team already consists of well-respected engineers who have worked with successful companies such as Uber and Tesla so they know how to build software that scales.

Second, their platform allows for developers to easily write Solidity smart contracts without having to understand any complex programming languages or learn specific tools or environments.

Third, Solidity functions better in these types of situations because larger blockchains can sometimes struggle with scaling issues that reduce security; however, Solana can handle large transaction volumes while maintaining its speed.

Should I Invest in it Now?

You may have heard of something called Solana, and you're wondering if it's worth investing in now. It's a tricky question, with a short answer and a long answer. The short answer is yes: It’s very likely that Solana will be worth investing in within two years.

And you can buy tokens for as little as $0.25 apiece (though they're still in an early stage so it might take a few months to get your money into them).

The long answer is more complicated—let’s start with what Solana is. Solana is a cryptocurrency designed to handle large amounts of transactions at once, which makes it particularly well-suited for handling payments on the internet.

While there are other cryptocurrencies focused on doing exactly that, Solana offers some key advantages over many competitors:

For one thing, while most blockchains suffer from scaling issues (and require expensive hardware or large fees), Solana doesn't need any additional hardware or high fees to scale up – and when necessary can simply rely on third parties like banks or other companies offering services like video streaming services.

That makes it ideal for everything from small peer-to-peer payments between individuals all the way up to large companies looking to use blockchain technology without needing their own dedicated infrastructure.

What Are the of Investing in it Now?

At its core, a blockchain is a ledger or database of information that's updated in real-time. In bitcoin's case, that information is transactions on its network. When you purchase bitcoin or another cryptocurrency using US dollars (or whatever your local currency happens to be), you're essentially buying units of encrypted computer code generated by people solving a set of complex mathematical problems.

The problem-solving process—and therefore currency generation—is called mining and it requires powerful computers that use more electricity than most African countries. When you own cryptocurrency, you also have an address to which others can send these coins so that they can be stored on your digital wallet and spent elsewhere.

Conclusion

While both bitcoin and Solana are developing technologies to improve upon existing ideas, they have entirely different uses. Bitcoin can be used as a digital currency or asset, while Solana is focused on changing how we approach consensus in blockchain systems.

However, one of their goals is similar—bringing change to systems that currently require central authorities. Whether you’re interested in bitcoin or not, it’s important to keep an eye on projects like Solana that could disrupt current industries by altering how data is stored and operated at scale.

If Solana accomplishes its goal of creating a decentralized internet, then your business may need to look into blockchain technology sooner than you think.