Solana is a popular cryptocurrency related to Ethereum on a slight basis. Sometimes, it is also called the Ethereum killer as it has features like fast speed, better security, and censorship-resistant protocol, everything that can beat Ethereum. According to the stats, Solana has a net worth of $11 billion from straight $144 million in a short span of only 9 months. And this hype is because of the popularity of dApp and token development on the Solana blockchain.
Creating a token on the Solana blockchain can be a good business idea that you can opt for, as this blockchain platform can hold more than 50,000 transactions per second without any lagging. The tokens made on the Solana blockchain are known as SPL and are stored on Solana-compatible sollet.io.
If you are planning a business on token development and are confused about whether to choose Solana blockchain, then this article will help you get assurance that you are doing the right thing.
What is Solana and its Blockchain?
Solana refers to the term that means a cryptocurrency that is quite similar to Ethereum in nature. Users on Solana and Ethereum blockchain can take advantage of smart contracts for things like NFTs and DeFi and create their tokens. And with features like low block times and minimal transaction costs, anyone would feel that Solana is a better version of blockchain than Ethereum.
Tokens built on the Solana blockchain can show any non-fungible and fungible token, including collectibles, art forms, loyalty points, and digital tokens. The range of tokens built on this blockchain will impart the same traits or characteristics like quick adaptability to Solana wallets or any other contract that entails the same standards.
And people looking to build their token on Solana should go for SAG IPL, as it is the ideal place to develop your token seamlessly.
Reason To Leverage Solana Blockchain For Token Development
Building your token on Solana is different from building tokens like BEP-20, or BEP-2. SPL, ERC20 token development comprises many features that make its demand in the coming year more than ever. Here are the reasons why SPL token development is preferred over any other in the market:
1. Protocol Advantage
The best thing about the Solana blockchain that it provides to users is that it allows people to use the amalgamation of proof of history and proof of stake. When a PoS consensus offers security and user-friendliness of the blockchain, the PoH ensures greater efficiency and throughput rate of the network.
2. Greater Security
Integrated with high-tech and advanced programming languages, this blockchain platform protects every transaction precisely. Solana uses the latest Byzantine Fault Tolerance (BFT) algorithm, which safeguards against malpractice. It means that if any node on Solana fails, the entire system would have no impact. And with such features, there is no chance to face issues like downtime for any dApps with Solana token or blockchain.
3. Multiple Smart Contract
With state-of-the-art technologies, it is possible to use multiple Smart Contracts simultaneously on the platform. It ensures time-saving, and due to this, every transaction on the Solana platform would be cost-effective.
4. Horizontal Scaling
The scalability that Solana offers is due to its horizontal scaling method. Using the Cloudbreak system, it is possible to get greater scalability and minimal throughput issues for transactions happening on the platform.
5. Pocket and pipelining
Many other platforms use the above-mentioned technicalities for better speed on the platform. But, the Solana platform is combined with the best scaling solutions in the market. Moreover, it also segregates the transaction into different task types; this is what pipelining is, and it ensures faster transaction processing.
Hire Appinop Technologies for Token Development on Solana Blockchain
When we talk about businesses looking to utilize token development services, it is best to hire a professional development company like Appinop Technologies. As token development is the most complex and requires technical and business-related knowledge, Appinop can be a safer option.
With more than 6+ years of experience in token development, Appinop has hands-on developing tokens for various industries, including healthcare, hospitality, IT, and many others for start-ups, entrepreneurs, and big businesses.
With a team of well-specialized developers, designers, and programmers, they deal with all types of project needs with utmost attention and dedication. And with their tailor-made packages, all businesses can benefit from Appinop’s token development services.
Services provided by Appinop Technologies are:
- Wallet Development
- Token development
- Development of dApps
- Development of smart contracts
And many more.
Solana blockchain has taken a very steep rise in the cryptocurrency market after its launch in 2020. With many renowned projects associated with the company, every business is taking advantage of the platform and increasing the platform’s user base growth. And that’s why it is a favorable option for token development projects because of its scalability, pennies-per-cost, and fast throughput. And with the assistance of an experienced token development agency, you can do miracles for your next big project.
Hire Appinop Technologies for your next token development project and opt for their pocket-friendly yet quality development solutions to enter this fascinating world of cryptocurrencies and tokens on the Solana blockchain.