2021 was a breakout year for Solana. âIf youâd invested just $500 in Solana at the start of 2021, youâd...
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2021 was a breakout year for Solana. âIf youâd invested just $500 in Solana at the start of 2021, youâd have roughly $47,500 at the end of the year,â wrote Muslim Farooque for [Yahoo News](. Solana is a programmable blockchain, like Ethereum, whose native currency is SOL. Itâs been called âthe Ethereum killerâ as more developers have been turning to the platform to build their own decentralized apps (dapps) and cryptocurrencies. SOL has not been immune to the âcrypto winter,â i.e. the recent market plunge thatâs affected Bitcoin and other cryptocurrencies, which some investors speculate will turn into a prolonged downward trajectory. Regardless, Solanaâs momentum towards being a leading blockchain platform progressed this week with a new launch. [Solana Pay]( is a new way for merchants to accept crypto payments with Solana-based tokens like USDC, a stablecoin tied to the US Dollar. It was developed with partners Checkout.com (which just raised $1B), Circle (which founded USDC), Citcon (a mobile wallet payment provider), and wallets Slope and [Phantom]( (a Golden Kitty Award [nominee]( for web3). The makers are also working on an integration with Shopify. âCash is king â and Solana Pay is more cash-like,â writes Tomio Geron for [Protocol](. Solana Pay offers merchants and customers a direct connection through a decentralized payment gateway. For merchants, that means they can skip intermediaries like Visa. For consumers, smart contracts could enable a host of opportunities, like the ability to hold funds in escrow for big-ticket items. Solana Pay is also attractive for the speed and cost of transactions. Ethereum, in comparison, is too slow to settle and too costly, noted [Sheraz Shere](, Head of Payments at Solana Labs. Thatâs not to say that Solana is [criticism-free](. For example, as Solana grew in popularity last year, it experienced congestion problems and slowdowns. It was also in the headlines just one day post-launch after a hacker stole $320 million in assets through Wormhole, which offers a bridge between the Ethereum and Solana blockchains. The attack was not a direct hack on the Solana network, but the incident could have a [negative impact]( on the ecosystem. So far the community has embraced the promise of Solana Pay. Add your thoughts. ð [To decentralized payments]( TRADE SLACK FOR YOUR BROWSER [Beseda Share]( wants to make asynchronous collaboration easy to integrate into a teamâs current workflow. âStart a discussion in your browser, share the link with anyone (inside or outside your team), collaborate with audio/video/text messages, and close out the discussion with a conclusion when youâre done,â maker Ilya Kuleshov shared on the launch. [To async work]( News
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