Solana: price and focus on the latest news
Solana: price and focus on the latest news
Crypto

Solana: price and focus on the latest news

By George Michael Belardinelli - 15 Dec 2022

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Despite recovering the psychological $13 level, Solana’s price is far from the glories it had set for itself. 

Solana price news and trends

One of the main competitors, in terms of characteristics and efficiency, of Ethereum, trudges through the market now far from its peak of 244 euros. 

Over the past month, the price of the SOL crypto has been recovering slightly by half a percentage point, and the trend has been gaining momentum over the past 7 days in which it has been leading a 5.20% recovery.

However, Solana’s recent performance has not been enough to quell the rumors around the chain. 

What is Solana

Solana, co-founded five years ago by Anatoly Yakovenko and current Solana COO Raj Gokal, has come into the crosshairs of Cardano, which in a deal reminiscent of acquisitions between automotive brands would like to turn it into a sidechain. 

Charles Hoskinson, founder of Cardano and co-founder of Ethereum, recognizes Solana’s strength and efficiency and intends to acquire it in a classic investment deal that would add value to the parent company and improve the acquired company’s coffers.

The willingness of the entrepreneur and programmer had been expressed in one of his recent videos and quickly made the rounds in the crypto world. 

“We’ve been discussing and thinking about these solutions for 6 years, and we’re pushing the notion that we’re going to have a main chain and a family of sidechains and each of those will do a different thing. And Cardano’s sidechain model is that when one sidechain arrives and connects with Cardano, that sidechain becomes a partner of the main chain. The main chain offers security, infrastructure, ecosystem and liquidity. For example you could take Solana, replace the consensus algorithm with something 25x faster and that it doesn’t fail continuously (referring to Solana’s network stops frequently), make it a Cardano sidechain. Solana would then pay $ADA holders (probably a smaller amount than they pay now). They no longer have to worry about the security and all those Dapps that will move will have greater reliability and security.”

It is not only Solana that is in Cardano leader Hoskinson’s sights: in fact, in recent days he had expressed interest in Dogecoin as well. 

In the entrepreneur’s intentions, Dogecoin’s destiny would also be to be transformed into a sidechain that would rely on Cardano and perform specific tasks for the improvement of all other Chains. 

George Michael Belardinelli

A former corporate manager at Carifac Spa and later at Veneto Banca Scpa, blogger and Rhumière, over the years he has become passionate about philosophy and the opportunities that innovation and the media make available to us, in particular the metaverse and augmented reality

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