Solana NFT 🔥 What are the best gaming Cryptos?

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Solana NFT | Best New Games | Upcoming Games 2023

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Welcome to our Solana NFT Video!

Solana is already one of the world’s most popular blockchains when it comes to non-fungible tokens (NFTs) and decentralized finance (DeFi). Its native token, SOL, is currently ranked ninth in market cap among all crypto — and interest in Solana NFTs has risen rapidly throughout 2022.

Users want platforms with faster and cheaper transactions, and Solana addresses both of these demands. As a result, several leading platforms are moving to (or already do) integrate with Solana. And, as more integrations are added, users are moving to Solana at ever-increasing rates.

What is Solana?
In short, Solana is a public, open-source blockchain. It was built to host a wide array of scalable decentralized applications (dApps). Like the rest of the world’s most popular blockchains, Solana supports smart contracts. This is critically important, since NFTs are minted and traded using smart contracts — they assign ownership, allow users to access digital assets in the NFT, and so on.

Solana was designed to solve the high costs and slow transaction speeds that limit the scalability of other blockchains like Ethereum and Bitcoin. When it arrived on the scene in 2017, blockchains’ processing capabilities were severely limited, and could only handle roughly 15 transactions per second (TPS). Compared to credit card companies, whose TPS range in the thousands, this was a woefully low number. Additionally, users have to pay fees for every transaction they attempt on a blockchain. When blockchain networks get congested, like during a popular NFT launch, these fees can become prohibitively expensive and soar to hundreds of dollars. Solana was created to solve both of these issues, and it did.

How does Solana work?
Solana runs on a combination of Proof-of-Stake (PoS) and Proof-of-History (PoH) mechanisms. These algorithms contrast sharply with Proof-of-Work (PoW) mechanisms that Bitcoin and other networks use.

In short, PoW requires computers to compete with one another to solve complex puzzles to add blocks and transactions to the blockchain. These puzzles are remarkably complex and require a lot of computer power to solve, which results in astronomical amounts of energy use. Solana removes these puzzles from the equation. As a result, it doesn’t cause the same kind of environmental degradation, and its TPS performance is far higher.

If you want to see a quick comparison of Ethereum, Solana, and some of the other NFT blockchains, the following image offers a pretty good overview. Read on for a more detailed breakdown.

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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.

I hope you found value in our Solana NFT video. Make sure to leave a like on the video if you gained value from it!

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⏰Timestamps⏰

00:00 Solana Top Projects introduction
01:08 Solchicks Project
03:25 Solana Top Projects Summary
03:33 Solan Top Projects Outro