@cryptoinning
Everything You Need to Know About Solana's Rollercoaster Ride: From $0.22 to $260, Then a Sharp Fall to $8, and a Resurgence to $185
The Early Days (2017-2018):
Anatoly Yakovenko, a former Qualcomm engineer, created #SOLANA to solve blockchain speed problems. Frustrated with #Bitcoin and #Ethereum's limitations, he developed the Proof of History concept and launched Solana Labs with colleagues.
Their initial $20M funding round got things moving, though $SOL tokens weren't trading yet.
The Speed Advantage:
What makes @solana different is its Proof of History system that timestamps transactions. This allows it to process up to 65,000 transactions per second compared to Ethereum's 15. Transaction fees stay under a penny, which became crucial to its later success.
Quiet Beginnings (2020):
Solana's mainnet beta went live in March 2020, opening the door for developers. SOL started trading at just $0.22 in April 2020 and remained mostly under the radar, hovering between $0.50-$1.50 throughout the year.
0 reply
0 recast
2 reactions