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What is Solana? 4 Reasons to Try SOL Today
![What is Solana? 4 Reasons to Try SOL Today](https://cdn.cryptobrowser.site/images/2023-07-12/what-is-solana__header.jpg)
A few weeks ago, NC Wallet added Solana (SOL) to its list of supported networks. Here are a few reasons why Solana could become your next go-to asset.
![](https://cdn.cryptobrowser.site/images/2023-07-12/what-is-solana__icon-spd@2x.png)
Reason 1. Speed
Solana can handle up to 65,500 transactions per second (and possibly even more!). This metric – also referred to as TPS – indicates how quickly a network is able to execute transactions. Solana is the ultimate winner when compared to most other networks. For instance, Bitcoin manages 7 transactions per second, while Ethereum – Solana’s main competitor – is currently limited to just 10-12 TPS. What’s more, Solana is ahead of the largest centralised payment systems like Visa and Mastercard that can process 24,000 and 5,000 TPS, respectively. The difference is quite outstanding!
![](https://cdn.cryptobrowser.site/images/2023-07-12/what-is-solana__icon-tx@2x.png)
Reason 2. Affordable transaction fees
At the time of writing, the average fee for a transaction on the Solana network is around 0.000010456 SOL ($0.000203). This level of network affordability is achieved due to several reasons:
Solana’s infrastructure allows for processing transactions in parallel, reducing the overall waiting time and required costs;
The Proof-of-History consensus mechanism, implemented by Solana, uses a cryptographic clock that timestamps transactions, guaranteeing decentralisation and security;
Last but not least, Solana can handle large amounts of transactions, thanks to its top-notch scaling capabilities.
Besides, Solana’s gas fee for minting an NFT remains below $0.01, as opposed to the minimum of $10 on Ethereum. Moreover, creating an NFT on Solana typically requires between $0.04 and $0.12, whereas for an Ethereum-based NFT, you would have to pay from $50 to $150.
![](https://cdn.cryptobrowser.site/images/2023-07-12/what-is-solana__icon-flame@2x.png)
Reason 3. Promising NFT market possibilities
Speaking about NFTs, Solana-based NFTs are currently the second-largest market after surpassing a billion dollars in total non-fungible token sales. Solana has a distinct ecosystem of NFT investors and developers, established in 2021. With Solana NFTs, users can participate in staking or play-to-earn activities and much more.
![](https://cdn.cryptobrowser.site/images/2023-07-12/what-is-solana__icon-discount@2x.png)
Reason 4. Commission-free payments with NC Wallet
If you are still unsure about Solana, how about we give all NC Wallet users a unique advantage over others when using the Solana network? With NC Wallet, no transaction fees are deducted from your wallet when performing operations with SOL, making them 100% commission-free. On top of that, you can gain a daily bonus for simply holding SOL in your wallet.
![](https://cdn.cryptobrowser.site/images/2023-06-21/BTC-price__ncw-icon@2x.png)
Solana is backed by investors and favoured by millions of crypto users worldwide. Try Solana today with NC Wallet and receive unmatched benefits!
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