Solona is a cryptocurrency focused on being used as a payment coin. The Solona Protocol is a blockchain-based protocol that enables developers to build applications on top of it. There are two cryptocurrencies that are built on the Solona Protocol: Solona (SOL) and Solon (SOLN).
How does Solona Protocol work?
The Solona Protocol uses smart contracts to enable developers to build decentralized applications (dApps) on top of it. Developers can create dApps using Solidity, which is one of Ethereum’s programming languages. The difference between Ethereum and the Solona Protocol is that there are no transaction fees when using SOLN and SOL. This means that developers can build dApps without having to worry about paying any fees in order for their dApps to work properly.
What are the differences and Similarities between Solona and Ethereum?
There aren’t many differences between these two cryptocurrencies, but there are some similarities as well. Both currencies have their own unique wallets where you can store your coins safely offline in order to prevent them from being stolen by hackers or someone who steals your computer or phone.
The Solona Protocol is built on top of the Ethereum Virtual Machine (EVM), which means that it runs smart contracts and DApps like Ethereum does.
The Solona Protocol uses the same hashing algorithm as Ethereum: Ethash. The block time for the Solona Protocol is set at 60 seconds, which means that it will take about 15 minutes for one block to be mined.
The Solona Token (SOL) has a maximum supply of 42 billion tokens, but only 36 billion are currently in circulation. The total supply of SOL will reach its limit around year 2028 or later.
As of July 19, 2022 Solona ranks at #9 on CoinMarketCap.com at a market valuation of ~16B and daily trading volume of 2.3B.
