How many Solana (SOL) coins are currently in circulation?
The Solana Foundation has announced that a total of 489 million SOL tokens will be released for circulation. Out of these, 260 have already entered the market.
The following is the SOL token distribution: 16.23% for an initial seed sale, 12.92% for a founding sale, 12.79% among team members, and 10.46% to the Solana Foundation– with the rest of tokens either being released to the public or private sales, or still yet to be released onto the market.
Within Solana’s first ever seed sale held on April 5, 2018, investors saw a significant return of investment (ROI) of 5400X when comparing the ATH to the original price per token ($0.04).
How is the Solana Network safeguarded?
Solana’s consensus mechanism is a combination of proof-of-history (PoH) and proof-of-stake (PoS), which makes it unique.
The primary purpose of the Solana protocol is recording a ‘history’ of successful transactions, which allows the blockchain to be trustless. PoH stores data on when an operation was completed and how long it took, ensuring that no one can tamper with the records.
The proof-of-stake (PoS) consensus is used as a monitoring tool for the proof-of-work (PoW) processes, and it validates each sequence of blocks produced by PoW.
The fact that Solana employs two different mechanisms for consensus makes it unique in the blockchain sphere.