Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.
The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
With so many promising and fully regulated platforms offering state-of-the-art trading features coupled with security, low fees, and additional yield opportunities, make sure to choose your pick wisely to leverage the ongoing #Uptober market trend.
Decentralized social network protocol, Grape Network, has now raised $1.8 million. Last week, the company raised $600, 000 during its token sale. Now, it has raised an additional $1.2 million in a new funding round led by Multicoin Capital.
