Solana
SOL #7Project Safety Score: 40%
Updated 1 day, 6 hours ago& Market
Credibility
Behavioral
Mechanics
Distribution
Solana is a Layer 1 blockchain founded in 2017 by Anatoly Yakovenko. It is designed to support decentralized applications by providing a fast, secure, and cost-effective environment, capable of processing thousands of transactions per second with low fees. The network employs a unique hybrid model that incorporates Proof of Stake and Proof of History, facilitating efficient transaction timestamping and supporting parallel execution of smart contracts through its Sealevel engine.
The platform operates on a single, unified ledger to minimize liquidity fragmentation and enhance scalability. Its native token, SOL, is utilized for transaction fees, network governance, and staking. The Solana Foundation, based in Switzerland, supports the network, which has attracted institutional interest and partnerships, including a collaboration with Visa for USDC settlements and other initiatives involving tokenization by various firms.
Risk Report
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, demonstrating its ability to operate for over 6 years without any regulatory actions, which reflects positively on its credibility. Although there has been one historical incident recorded, its overall stability is enhanced by relatively low concerns regarding agents, specifically one additional issue identified through research.
Economic Design score 75 out of 100.
The economic design of Solana shows a moderate level of concern due to the absence of a hard supply cap, which raises potential inflation risks. Nevertheless, the majority of its total supply is actively circulating, indicating robust usage within the ecosystem. This balance helps mitigate some of the inflationary concerns.
Developer Health score 85 out of 100.
Solana exhibits strong developer health, signified by a significant presence on GitHub with over 11,000 stars and more than 3,500 forks. The impressive commit cadence, with 171 commits in the last month, suggests active and ongoing development. Additionally, the high number of contributors signifies a vibrant developer community, further strengthening the project's sustainability.
Network Security score 80 out of 100.
The network security of Solana is commendable, bolstered by a substantial market cap nearing $50.6 billion and a solid chain age of 6.3 years. Despite having one historical incident recorded, its overall security posture remains strong, aligning well with its operational longevity and market presence.
Social Behavioral score 55 out of 100.
Solana's social behavior score reflects some challenges, evidenced by lower audience counts on several platforms, despite verified presence on Twitter and other channels. Sentiment analysis appears mostly positive, but there are noted issues including scam allegations and some negative press, which may impact public perception.
Inherently, investing in Solana carries risks typical of the crypto landscape, including regulatory uncertainties and market volatility. Factors such as previous incidents and ongoing concerns can also influence investor sentiment and behavior. Caution is advisable as with any asset in this dynamic environment.
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0.9
A study identified 76,469 Rug Pull tokens on Solana, indicating a significant number of fraudulent projects on the platform.arXiv · source ↗
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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. ↗
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CoinMarketCap · 2024-01-06
- ✓High transaction throughput with low fees
- ✓Active development community
- ✗Team is anonymous
- ✗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
Market Stats
Recent News
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Posts from the solana
community on Reddit