Project Safety Score: 76%
Updated 1 minute agoSolana is a Layer 1 blockchain established in 2017 by Anatoly Yakovenko. It operates on a single, unified ledger that allows for high transaction throughput with low costs, processing thousands of transactions per second. The network employs a hybrid model that combines Proof of Stake with Proof of History to enhance efficiency, enabling parallel processing of smart contracts and reducing confirmation times.
The native token, SOL, is utilized for transaction fees, network governance, and staking. The platform is supported by the Solana Foundation and has attracted institutional investment. Solana has also engaged in partnerships that facilitate various financial services, such as USDC settlement. Its architecture avoids complexities like sharding, aiming for streamlined and effective decentralized application deployment.
Cryptocurrency carries risk. Every project listed on this site, regardless of its score, operates in a volatile and largely unregulated market. Tokens can lose most or all of their value. A high score reflects lower structural risk based on the data we can measure. It does not mean a project is safe, that the price will hold, or that losses are unlikely. Always research independently and never commit money you cannot afford to lose.
Track record score 79 out of 100.
Solana has a solid track record with a live operation of over 6.3 years, reflecting a considerable level of stability. There have been no regulatory actions against the project, which shows compliance with legal standards. However, it has experienced one historical incident and has raised one additional concern based on research, indicating some level of risk that potential investors should be aware of.
Economic design score 75 out of 100.
The economic design of Solana scores well, indicating a generally sound framework. One notable point is the lack of a hard supply cap, which could lead to potential inflation in the asset. On a positive note, 92% of its total supply is currently circulating, demonstrating effective utilization of its assets in the market.
Developer health score 85 out of 100.
Developer health is strong, as evidenced by a high level of engagement on GitHub, with over 11,000 stars and more than 3,500 forks. The commit cadence is impressive, with 171 commits in the last four weeks, suggesting active development and ongoing project enhancement. Additionally, there are 411 contributors, highlighting a robust community of developers supporting the project.
Network security score 79 out of 100.
Solana demonstrates a solid level of network security with a market cap approaching $48.7 billion, which supports its economic structure. The chain is 6.3 years old, providing some reliability over time. However, it is important to note that there is one recorded historical incident, which may be a consideration for those assessing overall network trustworthiness.
Social behavioral score 55 out of 100.
The social behavioral score indicates limited engagement on social media platforms, with a relatively small audience on Twitter and Telegram. While overall sentiment is largely positive, there are some concerns, including scam allegations and recent negative press. The project has verified social accounts, but data regarding their follower counts is not available, limiting insights into community size and engagement.
Adoption liquidity score 81 out of 100.
Solana shows promising adoption and liquidity with a daily trading volume of approximately $1.69 billion, reflecting active market participation. The project benefits from a significant number of centralized exchange listings, with 62 total, of which 40 are rated as trustworthy. This broad accessibility contributes to its market cap, further enhancing the asset's liquidity.
Investing in Solana carries inherent risks typical of the cryptocurrency market, including price volatility and regulatory scrutiny. While it shows several strengths in areas like developer activity and network security, concerns such as the absence of a supply cap and existing scam allegations should be carefully evaluated by potential investors.
-
0.9
A study identified 76,469 Rug Pull tokens on Solana, indicating a significant number of fraudulent projects on the platform.arXiv · source ↗
-
rug pull 2024-01-06 · $2000000MangoFarmSOL deactivated its social media accounts and website following reports of missing funds, leading to an estimated loss of nearly $2 million. ↗
-
CoinMarketCap · 2024-01-06
- ✓High transaction throughput with low fees
- ✓Active development community
- ✗Project has a history of hacks or exploits
- ✗No hard cap on total token supply
- ✗Public scam allegations have been raised
- ✗High number of Rug Pull tokens identified on the platform
Price Chart - Solana
Solana Exchanges
Top 20 by trust scoreTechnical Analysis
Buy / Sell signals