Solana is currently making a lot of waves in the crypto industry. They are petitioning that the Solana Blockchain is one of the fastest, cheapest, and safest alternatives compared to the current BTC & ETH / EVM (Ethereum Virtual Machine) solutions.
What is a defining factor in a new product?
The answer is accessibility & ease of use.
Ease of access and also ease of use is extremely important for customer experience.
Phones are a major asset to people.
Phones have become such a strong part of today’s society, that you don’t see a person of the modern world without a phone within arms reach.
You don’t see a person without their phone in modern society, it’s needed for everything from communication to photography, to even handling our finances. However there is a darkside to phone usage, iOS on Apple, for example, which hosts 1.46 BILLION active users, charges companies a staggering 30% fee to companies, so this is why when you are purchasing an X premium account its $22 when purchasing through iOS for Apple users and only $16 / month via directly through their website.
The Duopoly, as it has been stated, is a major issue with mass adoption, iOS is acting as gatekeepers essentially for usage of products they didn’t create and charging 30% fees on top of it! This called for decentralization of major resources now such as phones in this instance.
Other phone blockchain technologies such as Helium, are leading the charge in decentralization as well, allowing users in the US to have a service for as little as 20$ a month.
As they expand, they can offer these services to other countries in the world,
specifically, areas that are under developed and in need of reliable, affordable service.
There always seems to be a competitor that comes along and wins big in terms of simplicity and ease of use. Let’s look at the gaming industry for example one big winner that took the world by storm was Candy Crush:
Candy Crush had generated $20 billion in revenue since 2012, which, as one venture puts it:
“The equivalent of a wrecking ball swinging through the video game industry”
Solana in these terms is the “wrecking ball” of the blockchain industry already destroying Ethereum in volume on chain for token and NFT sales. Now with the iOs outrage, Solana Mobile created the first blockchain phone, the “Saga”, in order to combat these problems in the current market. One of the massive solutions for Saga users is community participation via Airdrops.
New owners of the “Saga” were able to buy the phone at one point for under $500 and the airdrops received are valued over $2000 in tokens and NFTs; one user claimed, showing off their inventory. Phones of the Saga are on ebay right now being gauged at around a whopping $3000 per phone for some.
This isn’t the only memecoin making waves on the Solana blockchain either, plenty of the biggest uproars across the network have happened “SOLely” on Solana (Pun Intended).
Let’s dive into some of the most recent big movers on Solana:
MYRO, Named after the co-founder, Raj Gokal’s dog, has been gaining steam and making new marketcap highs since late conception in 2023. Currently as of writing this is breaking ATH of 155 million.
WIF, another popular meme coin on the solana chain, sporting a shiba inu wearing a beanie, it’s market cap peaking around $4 Billion after someone bought around 9 million dollars worth of the token all at once.
Another recent mover, USEDCAR, an X (formerly twitter) meme sensation about “Gently Used Honda Civics” has been spreading around like wildfire, enticing users to make content. This coin reaching around $60 million marketcap
Some memes were even made in the form of ironic rhetoric glorifying fat cats, reminding us of garfield. CHONKY was found to have a lot of interest, creating a lot of waves on crypto twitter, with an all time high of 40 million marketcap, we have seen much community support. They have had a lot of recent updates as well concerning their deep involvement with the Solana Blockchain.
Last one we noticed this week as well was CABAL, a coin that was mentioned over 10,000 times on X (formerly twitter) within 48 hours of its conception and reaching over $10,000,000 in volume within its first 24 hours of launch, it had hit an approximate $2.5 million marketcap all time high as of writing this, with its interesting Ai technology being used on the Solana blockchain which had caught our eye.
Solana is opening the floodgates
Solana is on the cutting edge for blockchain technology unlike current standards when compared to older coded chains like ETH released in 2015, and BTC in 2009. Solana was released relatively recently in March 2020.
With the expedited technological advances in modern society, growth has begun in a parabolic uproar.
Solana has offered peer to peer solutions in blockchain technology with many programs, even having some events called “hack-a-thons” in which Solana invites users to attempt to breach their security systems. This, in turn, has benefited the ecosystem and its security measures while simultaneously creating a physical peer to peer environment for users which is rare in comparison to the other blockchains.
Excited for its future, we watch Solana and its ecosystem flourish and introduce a new era in blockchain technology.
– via Yahoo News!
– Article by Wrenn K.