What Is Solana (SOL)?
Solana is a blockchain launched in 2017 with its mainnet debut in 2020, designed to compete with Ethereum. It offers impressive scalability, rapid transaction speeds, and low costs, all built on open-source technology.
In 2021, Solana saw explosive growth across decentralized applications (dApps), user adoption, and total value locked (TVL). The Phantom wallet, Solana's most popular wallet, grew its user base sixfold, from 200,000 in August to 1.2 million by October 2021. Additionally, participation in Solana's hackathon skyrocketed from 1,000 registrations in October 2020 to 13,000 by May 2021, marking a thirteen-fold increase. Meanwhile, Solana’s TVL skyrocketed from US$135.61 million in April 2021 to US$10.14 billion by October 2021. As a result, within just a year, Solana secured its position as the sixth-largest global blockchain by TVL.
This remarkable progress can be attributed to the innovative Proof of History (PoH) mechanism, developed by its founder, Anatoly Yakovenko, which enables efficient throughput without relying on additional scaling solutions.
Solana’s Key Strengths
Solana’s standout features lie in its consensus mechanism, combining Proof of History (PoH) and Proof of Stake (PoS). PoH uses cryptographic timestamps to autonomously sequence events, enabling faster transaction processing without requiring network-wide confirmations. Meanwhile, PoS efficiently selects validators based on the amount of staked SOL, enhancing security and reducing energy consumption when compared to traditional Proof of Work (PoW) systems. In addition to its innovative consensus, Solana has witnessed impressive growth in its ecosystem, with over 500 decentralized applications (DApps) spanning areas such as DeFi, Web3 gaming, and NFTs. User adoption has surged significantly, escalating from 200,000 to 1.2 million wallet users within just two months in 2021. Moreover, the Total Value Locked (TVL) in the network skyrocketed from $135 million to over $10 billion in a single year.
How Solana (SOL) Works
Smart Contract Platform
Solana's robust infrastructure is designed to support a variety of decentralized applications (DApps), such as NFT marketplaces, DeFi protocols, and gaming platforms. Its innovative PoH + PoS consensus model significantly reduces the bottlenecks typically encountered on older blockchain networks, enabling near-instant transaction finality.
Validator Rotation
In Solana's network, validators rotate in producing blocks, with PoH establishing a clear and transparent order of events. The PoS mechanism fairly and efficiently selects validators, resulting in a system that offers high throughput and low latency.
Utility of the SOL Token
The SOL token serves multiple purposes within the Solana ecosystem. It enables governance, allowing holders to partake in on-chain governance proposals. Users can also stake SOL to help secure the network and earn incentives. Additionally, SOL is utilized for paying transaction fees and smart contract fees. It plays a crucial role in powering applications and smart contracts operating on the Solana platform.
Why Choose Bitget for Trading SOL?
Bitget provides a fast and secure trading experience, backed by strong security measures and 24/7 global customer support to create a safe environment for users. The platform features an intuitive interface that facilitates quick deposits, trades, and withdrawals, making it suitable for both beginners and experienced traders alike. Additionally, Bitget offers flexible solutions, allowing you to trade SOL in either spot or futures markets, stake SOL for passive income, or store your holdings securely in the Bitget Wallet.
Join Bitget and Discover the Future of Solana
The Solana ecosystem is rapidly growing, encompassing everything from NFT marketplaces to DeFi applications. By joining Bitget, you gain access to powerful tools for buying, trading, staking, and securely storing SOL , helping you capitalize on one of the most dynamic crypto projects.
Start trading SOL on Bitget today and explore all the opportunities that Solana has to offer!
Buy Solana in Georgia with Bitget
Simple 3-step guide to buying SOL today in Georgia
Create your free Bitget account
Select a funding method
Complete your Solana purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for Solana using a payment method of your choice:
Buy Solana with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your Solana order.
How to buy crypto with credit/debit cardBuy Solana with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into Solana is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your Solana order.How to buy crypto via third-party gatewayBuy with bank transfer
We accept various payment methods, including iDeal and SEPA for EUR, PIX for BRL, PayID for AUD, UPI for INR, QRIS, DANA, and OVO for IDR, SPEI for MXN, and GCash for PHP. These services are facilitated by Alchemy Pay, Banxa, Mercuryo, and Simplex payment gateways. Simply select Buy Crypto > [Third Party] in the top navigation bar and select a fiat currency to place your Solana order.Buy Solana with the fiat balance in your Bitget account
You can Deposit fiat funds using SEPA to top up your Bitget fiat balance. Then click Buy Crypto > [Cash conversion] in the top navigation bar to place your Solana order.P2P trading
With Bitget P2P, you can buy crypto using over 100 payment methods, including bank transfers, cash, and e-wallets like Payeer, Zelle, Perfect Money, Advcash, and Wise. Simply place an order, pay the seller, and receive your crypto. Enjoy secure transactions with escrow protection.How to buy crypto on Bitget P2P
Step 3: Monitor Solana in your Bitget spot wallet
Bitget—where the world trades Solana
How to buy Solana for free
- Learn how to earn Solana for free through the Learn2Earn promotion
- Earn free Solana by inviting friends to join Bitget's Assist2Earn promotion
- Receive free Solana airdrops by joining On-going challenges and promotions
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Georgia is a country situated at the intersection of Eastern Europe and Western Asia. Part of the Caucasus region, Georgia is bordered by Russia to the north and east, the Black Sea to the west, Turkey to the southwest, Armenia to the south, and Azerbaijan to the southeast. It covers an area of 69,700 square kilometres with a population of 3.7 million people.
The Georgian government wastes no effort in attracting foreign visitors. With the Greater Caucasus Mountain Range as its northern border and Lesser Caucasus Mountains as its southern region, Georgia is indeed a mountainous country. These mountains, bestowed with over 2,000 mineral springs, make ideal places for a holiday retreat and physical rehabilitation. Georgia is also home to four UNESCO World Heritage Sites and 12,000 historical and cultural monuments. These attract almost 10 million tourists to Georgia each year, and Georgia plans to host 11 million visitors by 2025, further expanding the role tourism plays in its economy.
Georgian lari (GEL) is Georgia’s currency, and here at Bitget, you can buy Solana(SOL), and many other coins using GEL. Whether you’re in Tbilisi, Batumi, Kutaisi, or Rustavi, there’s no better place to trade cryptocurrency with ease than right here with Bitget. Our exchange uses a variety of secure methods, including P2P trading, crypto deposits, and other third-party merchants, such as Apple Pay, Google Pay, and numerous credit cards, to offer you plenty of payment options with proven security.