Solana (SOL) ranks among the largest cryptocurrencies by market presence and has delivered strong returns for investors, rising more than 4,113% over the past five years. The network is built on a technically advanced stack that combines an energy-efficient proof-of-stake consensus with a proof-of-history layer that timestamps transactions. While proof-of-stake is used by several networks, Solana’s PoH layer is designed to reduce bottlenecks, as validators must agree on the order of transactions.
Solana’s real-world utility has begun to materialize through notable pilots. Western Union recently tapped Solana to run its U.S. dollar stablecoin on the network, and the move aims to provide more options for key stakeholders to move money while also enhancing Western Union’s treasury management capabilities. JPMorgan Chase, the largest bank by assets in the U.S., also conducted a U.S. commercial paper debt issuance on Solana, one of the first debt issuances on a public blockchain.
Such use cases could help drive long-term demand for SOL and support price appreciation as adoption scales. For perspective, The Motley Fool Stock Advisor has identified other top stocks to buy now and Solana was not among them.
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