{"id":503866,"date":"2022-09-27T23:00:57","date_gmt":"2022-09-27T23:00:57","guid":{"rendered":"https:\/\/wncen.com\/?p=503866"},"modified":"2022-09-27T13:03:58","modified_gmt":"2022-09-27T13:03:58","slug":"solana-clears-100-billion-transaction-count-as-nfts-gain-prominence","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana\/solana-clears-100-billion-transaction-count-as-nfts-gain-prominence\/","title":{"rendered":"Solana Clears 100 Billion Transaction Count As NFTs Gain Prominence"},"content":{"rendered":"

The Solana network had been one of the winners of 2021 after gaining widespread popularity among crypto users. Its incredibly fast transaction times had been one of the pulls, as well as the ability for developers to create decentralized applications (DApps) on the network. Since the beginning of 2022, the network has been racing toward an important milestone, which it has now successfully broken through.\u00a0<\/span><\/p>\n

Solana Surpasses 100 Billion Transactions<\/h2>\n

Solana\u2019s transaction count had been ramping up over the last couple of months. In just 2 years, it has become one of the most used blockchains in the space. Solana had taken the decentralized finance (DeFi) and non-fungible tokens (NFTs) space by storm, now commanding the second-largest market share of the NFT space of any blockchain.<\/p>\n

Related Reading: Why Investing In Terra Classic (LUNC) May Be A Bad Idea<\/a><\/strong><\/em><\/div>\n

Last week, the network made it past the 100 billion transaction mark. Interestingly, the network is still in Beta testing, and it has grown so much. It had been able to grow above the delay transaction count of its largest competitor Ethereum after it clocked more than 40 million daily transactions.\u00a0<\/span><\/p>\n

\"Solana<\/p>\n

SOL price trending at $35 | Source: SOLUSD on TradingView.com<\/a><\/pre>\n
Solana continues to maintain its high transaction processing even with the massive growth it has experienced. At the time of this writing, the transactions per second (TPS) in the last 30 minutes were averaging around 3,000 TPS, according to data from Solana Explorer<\/a>.<\/p>\n
SOL NFTs Rival Ethereum<\/h2>\n
Ethereum NFTs had been the dominant tokens in the market and, understandably, remain so, even at this time. However, there have been numerous developments in the Solana NFT ecosystem that shows that the network is gearing up to rival Ethereum in this regard.<\/p>\n
One of the most recent NFT launches on the Solana blockchain, the y00ts NFT collection, is now billed as the \u201cmost hyped\u201d NFT launch in history. It came from a critically acclaimed team behind the Dead Gods NFT collection. It sparked renewed interest in SOL NFTs, which helped to push the floor price higher.<\/p>\n
Related Reading: Staked ETH Nears 14 Million As Ethereum Readies For Breakout<\/a><\/strong><\/em><\/div>\n
On Monday, Sentiment reported that SOL NFT sales had crossed 1.65 million. Solana NFT ecosystem Metaplex had also reported<\/a> a significant uptick in the number of NFTs that are being minted on the platform over the month of September.\u00a0<\/span><\/p>\n
However, it is hard to predict how long this growth trend will last, given that interest in the NFT space, in general, is down. The number of new addresses that are using NFTs<\/a> since its peak in mid-September is down more than 60%, from 30k to 8k.<\/p>\n
Featured image from The Market Periodical, charts from TradingView.com<\/pre>\n
Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
The Solana network had been one of the winners of 2021 after gaining widespread popularity among crypto users. Its incredibly fast transaction times had been one of the pulls, as well as the ability for developers to create decentralized applications (DApps) on the network. Since the beginning of 2022, the network has been racing toward an important milestone, which it has now successfully broken through.\u00a0 Solana Surpasses 100 Billion Transactions Solana\u2019s transaction count had been ramping up over the last couple of months. In just 2 years, it has become one of the most used blockchains in the space. Solana had taken the decentralized finance (DeFi) and non-fungible tokens (NFTs) space by storm, now commanding the second-largest market share of the NFT space of any blockchain. Related Reading: Why Investing In Terra Classic (LUNC) May Be A Bad Idea Last week, the network made it past the 100 billion transaction mark. Interestingly, the network is still in Beta testing, and it has grown so much. It had been able to grow above the delay transaction count of its largest competitor Ethereum after it clocked more than 40 million daily transactions.\u00a0 SOL price trending at $35 | Source: SOLUSD on TradingView.com Solana continues to maintain its high transaction processing even with the massive growth it has experienced. At the time of this writing, the transactions per second (TPS) in the last 30 minutes were averaging around 3,000 TPS, according to data from Solana Explorer. SOL NFTs Rival Ethereum Ethereum NFTs had been the dominant tokens in the market and, understandably, remain so, even at this time. However, there have been numerous developments in the Solana NFT ecosystem that shows that the network is gearing up to rival Ethereum in this regard. One of the most recent NFT launches on the Solana blockchain, the y00ts NFT collection, is now billed as the \u201cmost hyped\u201d NFT launch in history. It came from a critically acclaimed team behind the Dead Gods NFT collection. It sparked renewed interest in SOL NFTs, which helped to push the floor price higher. Related Reading: Staked ETH Nears 14 Million As Ethereum Readies For Breakout On Monday, Sentiment reported that SOL NFT sales had crossed 1.65 million. Solana NFT ecosystem Metaplex had also reported a significant uptick in the number of NFTs that are being minted on the platform over the month of September.\u00a0 However, it is hard to predict how long this growth trend will last, given that interest in the NFT space, in general, is down. The number of new addresses that are using NFTs since its peak in mid-September is down more than 60%, from 30k to 8k. Featured image from The Market Periodical, charts from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":503875,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[12837,86990,83626,86989,86814,86410],"class_list":["post-503866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-sol","tag-sol-nft","tag-solana","tag-solana-nfts","tag-solana-transactions","tag-solusd"],"acf":[],"yoast_head":"\nSolana Clears 100 Billion Transaction Count As NFTs Gain Prominence<\/title>\n<meta name=\"description\" content=\"The Solana network had been one of the winners of 2021 after gaining widespread popularity among crypto users. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solana Clears 100 Billion Transaction Count As NFTs Gain Prominence","url":"http:\/\/wncen.com\/news\/solana\/solana-clears-100-billion-transaction-count-as-nfts-gain-prominence\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/solana\/solana-clears-100-billion-transaction-count-as-nfts-gain-prominence\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Solana-1.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Solana-1.jpeg?fit=870%2C550"},"articleSection":"Solana","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["sol","sol nft","solana","solana nfts","solana transactions","solusd"],"dateCreated":"2022-09-27T23:00:57Z","datePublished":"2022-09-27T23:00:57Z","dateModified":"2022-09-27T23:00:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solana Clears 100 Billion Transaction Count As NFTs Gain Prominence\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana\\\/solana-clears-100-billion-transaction-count-as-nfts-gain-prominence\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana\\\/solana-clears-100-billion-transaction-count-as-nfts-gain-prominence\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Solana-1.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Solana-1.jpeg?fit=870%2C550\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"sol\",\"sol nft\",\"solana\",\"solana nfts\",\"solana transactions\",\"solusd\"],\"dateCreated\":\"2022-09-27T23:00:57Z\",\"datePublished\":\"2022-09-27T23:00:57Z\",\"dateModified\":\"2022-09-27T23:00:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Solana-1.jpeg?fit=870%2C550","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/503866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=503866"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/503866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/503875"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=503866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=503866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=503866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}