Solana is a blockchain-based system that allows for smart contracts, decentralized apps, and non-fungible coins. SOL is the native coin. Crypto Lists explores some of the hottest coins on the network right now.
Anatoly Yakovenko advocated Solana in a white paper released in November 2017. Solana’s initial block was inaugurated on March 16, 2020. This paper discussed a Proof of Stake (PoS) architecture with smart contract functionalities. The PoS technique allows the blockchain to save accurate data for its members or users. Below are some of the tokens and coins you can find in the Solana network. Without further ado and in no particular order…
Miners on the Arweave platform are compensated in the network’s native money, AR, for their services of storing data eternally. Initially introduced in August 2017, Archain was renamed Arweave in February 2018 before a full launch in June of that year. Sam Williams and William Jones, then both Ph.D. students at the University of Kent, established Arweave. Exchanges like MXC.COM, Bilaxy, Huobi Global, and Hoo all sell AR, and there are many more where you may acquire some. It’s also tradable with Bitcoin (BTC) and Ether (ETH), in addition to the USDT stablecoin (ETH).
0x (ZRX) token
0x’s native Ethereum token, ZRX, compensates relayers for their services. Holders of ZRX tokens have a voice in the protocol’s future development, with voting power proportionate to their token supply. 0x has placed a strict market limit of 1 billion ZRX tokens.
The Waves blockchain is home to the cryptocurrency Waves token. Tokens can be exchanged for goods and services, but they can also be utilized to wager for rewards or generate more tokens. So, the token may be used in many different contexts. There are now 100,000,000 WAVES tokens available. In its initial coin offering (ICO) in April and May of 2016, the platform raised $16.8 million. Binance is where you may buy and sell.
Since its introduction in 2017, Solana’s popularity has skyrocketed. On the Solana blockchain, the native token is known as the SOL coin. To verify the results of an on-chain application, SOL can be sent to nodes in a Solana cluster. In the future, individuals will likely utilize SOL to decide on proposed Solana updates. However, SOL can be staked to join the blockchain as a node. This currency is also accepted as payment for Solana service costs. Despite recent troubles, many in the industry predict the ecosystem to be highly promising and the coin itself still a good long-term investment.
The Metaverse2 is a network for buying and selling virtual properties based on physical locations, and MTK tokens are designed to be utilized there. If you have enough MetaTokens in your wallet, you may acquire land in the Virtual world and set up shops, mines, and production facilities. It’s also the medium through which the leasing and advertising costs of the platform are settled. It will cost you Metatokens to put up structures on this ecosystem. Since the token is distributed, all purchases and sales will be publicly accessible on the blockchain.
USD Coin (USDC)
Digital stablecoin USD Coin (USDC) is backed one to one by the U.S. dollar. Circle initially introduced USDC on May 15, 2018; it became live in September of the same year. Circle’s investor Coinbase and Bitcoin mining company Bitmain are both part of the Centre consortium that manages USD Coin. Centre was formed by Circle. In July of 2022, Circle reported that there were 55 billion USDC circulating. The developers of USDC, Circle, declared that they would be merging USDC with the Solana network in a new fork called USDC-SPL. USDC is among the most rapidly expanding U.S. Dollar stablecoins.
The SRM utility token is used on the Serum network and grants its users access to the network’s governance system as well as discounts on trading fees of up to 50%. The SRM coin also has a traditional method that is accepted by trading platform tokens. This redeeming and destroying system elevates the overall number of SRM.
Aside from the SRM token’s usefulness in the network, all payments made in SRM are routinely burnt weekly. The amount of SRM tokens circulating is continuously reduced by this technique, enhancing their rarity.
On the Aurory platform, the AURY token has several different uses. These tokens are obtainable in both PvE and PvP settings. Staking is an additional method of generating AURY tokens. The lite paper states that staking is how users may gain AURY tokens by earning a return from the treasury. On top of all that, AURY tokens may be used to buy and sell NFT monsters and products and get in-game advancement bonuses.
Disclaimer: Crypto is extremely volatile and not suitable for everyone to invest in. Never speculate with money that you cannot afford to lose. The information on this site about the hottest Solana network tokens is presented for educational purposes only and should not be construed as investment or financial advice.