As a competitor to Ethereum, Solana is an open-source blockchain software designed to handle various applications, including payments, transactions, gaming, and social interactions. The Solana blockchain operates as a global single state machine without sharding or second-layer solutions, and its unique combination of scalability, speed, and low cost may provide a better user experience for many use cases.
By processing thousands of transactions per second at extremely low fees and utilizing an advanced security mechanism combining proof-of-history and proof-of-stake, we believe that Solana stands out as a powerful and accessible blockchain software. We consider this combination of high throughput, low costs, strong security, and a vibrant community atmosphere to make Solana an attractive option for exchange-traded funds, providing investors with the opportunity to access a versatile and innovative open-source ecosystem.
Why do we believe SOL is a commodity similar to Bitcoin and Ethereum?
We believe that the native token SOL functions similarly to other digital commodities such as Bitcoin and Ethereum. It is used to pay for transaction fees and computational services on the blockchain. Like ETH on the Ethereum network, SOL can be traded on digital asset platforms or used for peer-to-peer transactions.
The wide range of applications and services supported by the Solana ecosystem, from DeFi to NFT, emphasizes the practicality and value of SOL as a digital commodity. The network is operated in a decentralized manner, with no single intermediary or entity controlling the Solana network. The validation and recording infrastructure is maintained by a diverse user base of independent validators globally. These validators are responsible for processing transactions and securing the network, ensuring that no single entity can monopolize the system.
The decentralized nature, high utility, and economic viability of SOL align with the characteristics of other established digital commodities, reinforcing our belief in SOL as a valuable commodity that can provide use cases for investors, developers, and entrepreneurs seeking alternatives to the duopoly app stores.
What cryptocurrencies benefit from SOL’s ETF application?
First, meme coins show the most obvious rebound: WIF, BONK, BOME, followed by ecosystem-related coins such as LINK, AR, GRT, and others.