Chainfeeds Introduction:
VanEck submitted an application for Solana Trust "VanEck Solana Trust" to the U.S. Securities and Exchange Commission (SEC) yesterday. Matthew, head of digital asset research at VanEck, wrote an article detailing why SOL has the potential to become an important digital commodity and VanEck's outlook for its future.
Article Source:
https://www.theblockbeats.info/news/54009
Article author:
Matthew Sigel
View:
Matthew Sigel: As a competitor to Ethereum, Solana is an open-source blockchain software designed to handle a variety of applications, including payments, transactions, games, and social interactions. The Solana blockchain operates as a global single state machine without sharding or second-layer solutions, and its unique combination of scalability, speed, and low cost may provide a better user experience for many use cases. By processing thousands of transactions per second with extremely low fees and using advanced security mechanisms that combine proof-of-history and proof-of-stake, we believe Solana stands out as a powerful and accessible blockchain software. We believe this combination of high throughput, low fees, strong security, and a strong community atmosphere makes Solana an attractive ETF option, providing investors with exposure to a versatile and innovative open source ecosystem. We believe that the native token SOL functions similarly to other digital commodities such as Bitcoin and Ethereum. It is used to pay transaction fees and computing services on the blockchain. Just like ETH on the Ethereum network, SOL can be traded on digital asset platforms or used for peer-to-peer transactions. The wide range of applications and services supported by the Solana ecosystem, from DeFi to NFTs, underscores the utility and value of SOL as a digital commodity. No single intermediary or entity operates or controls the Solana network, a principle known as decentralization. The transaction validation and recording infrastructure is maintained by a diverse user base consisting of numerous independent validators around the world. These validators are responsible for processing transactions and securing the network, ensuring that no single entity can monopolize the system. SOL's decentralized nature, high utility, and economic viability are consistent with the characteristics of other established digital commodities, which reinforces our belief in SOL as a valuable commodity that can provide use cases for investors, developers, and entrepreneurs seeking an alternative to the duopoly app store.
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