Solana was launched in 2020; after that, it showed a mind-blowing performance the very next year. It emerged as the ‘Ethereum Killer’ just a few months after launch. Now it is gaining popularity in Defi, NFT and gaming sectors and is about to launch its first ever decentralised exchange (DEX) in December 2021 with Soldex.ai. According to Solana, Soldex (SOLX) holders will be able to exchange SOLX at speeds greater than 50,000 transactions per second and will not have to contend with the high gas fees that Ethereum is so well know for.
Solana has been in the news a lot recently with a Solana-based startup raising $4.3 million from leading venture capital firms. The concept of the metaverse is gaining more popularity these days and with more an more people tuning in to the Metaverse, Solana is looking well positioned to take advantage of the rising trend.
Solice, for example, is a cross-platform PC and VR (Virtual Reality) game built on the Decentralized and Sandbox concepts. A recent successful funding round was led by top names like Three Arrows Capital, Jump Capital, Solar Eco Fund, KuCoin Labs, etc.
Another major solana success is the play-to-earn fantasy game, SolChicks, which received funding from 113 different venture capital funds and is the fastest growing and largest P2E in the Solana ecosystem. The game is built on Solana, and it quickly became the talk of the town at the end of November 2021, with over 50,000 players completed the SolChicks game demo in its first week of release.
Can Solana close the gap over with its next rival Ethereum? Although there is currently more than 10x price difference between the two tokens, the growth and the numerous network advantages of Solana over the less advanced Ethereum has led a lot of people to ask whether Solana could indeed become #2 in the crypto market in 2022.