Disclaimer: The text below is a press release that was not written by Cryptonews.com.
In a world where SHIB is up 53 million percent in a year can Solana ($SOL) gains of 12,000 percent be overlooked. That means that, despite everyone’s attention being pulled to the dog-faced coin’s extraordinary returns, Soalan, the blockchain platform designed to host decentralised applications still has a chance. Solana is still a well-known cryptocurrency, but it is a hidden treasure in the cryptocurrency world. It was discreetly introduced more than two years ago, but its quick operation at a low cost quickly grabbed the attention of not only traders, but also developers, which should be a source of future growth for the platform.
Shiba Inu may be more well-known, or at least get more attention, but Solana has more promise. With a current market value of USD 59.7 billion, Solana is the fifth-largest digital currency on the market. However, it is still behind the two most prominent cryptocurrencies, Bitcoin ($BTC) and Ethereum ($ETH). Solana has some of the most potential development of any cryptocurrency since it is the most efficient at what it does. HUH Token, a recently launched cryptocurrency, has also shown tremendous growth.
The HUH Token went live in early December 2021. It increased in value by 6000% in less than a week. This is due to the fact that HUH combines social enthusiasm with practicalities. The currency promises to be a “Utimeme” coin, rather than just a meme coin like Shiba Inu.
It’s a combination of the two principals that cause the cryptocurrency market to move swiftly; a meme and a utility. According to the white paper, it does this via a unique recommendation system and it’s development of a social network.
The recommendation is unusual and promising in that it allows users to earn extra money in different digital currencies. To get the recommendation, you must first visit the HUH Token website and obtain a code. The code may then be used by anybody who has never purchased HUH Tokens before. This purchase then pays 10% of the purchase price in BNB, Binance currency, to the individual who owns the code.
There is also plans to burn over a million dollars worth of HUH Token weekly in the coming months. This will increase the value of the tokens for everyone who already has them.
HUH is following in the footsteps of dog-themed cryptocurrencies like DOGE and SHIB. Some analysts believe that based on the Shiba Inu price trend, the meme currency will begin to increase again by the end of this year.
Solana is quick at processing and was designed to be that was specifically. It is now one of the fastest programmable blockchains on the market, capable of processing 50,000 transactions per second (TPS), with a potential TPS of 710,000 TPS as the network grows.mIt achieves such rapid speeds by merging the proof-of-stake (PoS) and proof-of-history (PoH) protocols. The latter is a novel approach to determining transaction timings without requiring every computer on the decentralised network to constantly communicate with one another in search of agreement. As a consequence, the transaction verification process has been simplified, resulting in cost savings. According to Solana, this technology provides a far more secure and performant blockchain than its rivals.
Transaction fees on Solana are very low, often costing less than 0.000005 SOL, Solana’s currency. This is a fraction of a cent.
In comparison, the gas charges for the vastly larger Ethereum platform – or payments made for the resources required to execute and validate transactions on Ethereum’s blockchain – have climbed to USD 100 for simple transactions. Furthermore, Ethereum is plagued by congestion and slower transaction times. This year, the largest smart contract platform’s costs have skyrocketed, with the average Ethereum transaction charge ranging between USD 5 and USD 35 per transfer.
Even Ethereum co-founder Vitalik Buterin has recognised the issue and advocated a fivefold reduction in fees. While Ethereum will ultimately transition to a more cost-effective and environmentally friendly PoS technique, narrowing the space between it and Solana, there is still enough to provide the upstart with a competitive edge.
HUH Official Swap- https://swap.huh.social/