Solana (SOL) is an Ethereum rival that is showing some bullish metrics according to a crypto analyst. Recently the network registered 446,000 active users, surpassing all other smart contract platforms. Solana also saw its seven day moving average of non-vote transactions spike to nearly 30 million, a level it hasn't neared since last August. Additionally, the amount of commits Solana has logged is second only to Ethereum, which has the most.

Solana is an open-source platform, founded in 2017 by Anatoly Yakovenko and his team. It has a distributed ledger, which is secured by native proof of stake (PoS) consensus algorithm, known as Proof of History. Solana also features something called 'turbine', which creates block formation by the network itself, so any number of nodes can get involved. It, therefore, allows for a separations of the roles between nodes and improve the throughput significantly.

The project also has a sharding solution to increase scalability, called Gravity. It is a deterministic sharding protocol and a hierarchical partitioning that is based on PoH. Over and above, Solana also has many features like its own programming language, SolanaSQL and a forkless update mechanism. All of these features together give Solana the upper hand when it comes to network performance in comparison to other projects like Ethereum.

Solana is currently trading at $20.79 and is ranked 11th in terms of market capitalization. Despite this, it has seen a slight dip of more than 2% in the past 24 hours. As per analysts, Solana is well-poised to benefit from the current bullish trend in the cryptocurrency market, given its advanced features and being backed by high-level technical developments.



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