This is the solana cryptocurrency value on this day

Cryptocurrencies are booming and becoming a relevant digital asset today so much so that some companies and states have encouraged its use despite the lack of guarantees or regulations. Among the countless cryptocurrencies that have emerged, a few stand out, among them solana.

Identified in the cryptocurrency market with the initials SOL, solana was founded in 2017 by Anatoly Yajovenkoassuming a high performance in your transactions and short processing times performing around 50,000 transactions per second, making it one of the fastest on the market.

In addition to its speed, solana guarantees low transaction costs thanks to its scalabilitykeeping them under $0.01 for developers and users.

The solana price for today at 3:55 p.m. (UTC time) is $22.27that is, the cryptocurrency has changed from -2.1% in the last 24 hours.

Cryptocurrencies are digital currencies that do not physically exist. and, unlike currencies such as the dollar, euro or peso, they are not regulated by any institution and do not require intermediaries in transactions.

Consequently, they are regularly not viewed favorably by the formal market and are accused of being unreliable, volatile, promoting fraud, not having a legal framework that supports their users, allowing the exploitation of illegal activities, among others.

Yet, little by little, they paved the way to such an extent that corporations, millionaires, and even governments encouraged or legalized their use.

These cryptocurrencies work through cryptographic encryption that guarantees the security of transactions, as well as controlling the creation of their units. To make transactions, virtual currencies use a decentralized database, blockchain or shared ledger.

Currently, there are different cryptocurrencies in this unregulated market, however, the pioneer was Bitcoin, created in 2008, along with others like litecoin, ethereum, bitcoin cash, ripple, dogecoinsome of the most popular.

One of the richest men in the world, Elon Muskmade comments in favor of cryptocurrencies such as bitcoin and dogecoin, even temporarily accepting digital currencies from his electric car company Tesla, which triggered his price hike.

To acquire any of the cryptocurrencies that are on this unregulated market, you must go to specialized websites.

It should be mentioned that the cost of each of these digital currencies varies according to supply and demand, as well as the engagement of the users themselves, which can cause abrupt changes.

This means that the more people are interested and want to get their hands on any cryptocurrency, the greater its value and vice versa.

However, anyone investing in this type of digital currency should be very clear that this form brings with it a high capital riskjust as there can be a surge, you can also crash unexpectedly and wipe out your users’ savings.