When the world was focusing on Ethereum killers, Solana crypto blockchain went on stage and stole the show. In 2017, founders silently published the Solana whitepaper and it was only in 2020 that the project gained popularity.
Fast forward today, Solana has emerged to be among the most preferred blockchains for building blockchain projects (Smart Contracts & DAPPS). Its native currency SOL is in the top 10 list of cryptocurrencies by market cap.
In this post, I will talk about the partnerships that have the potential to expand its ecosystem and boost the price of SOL tokens. Before I start, do check out my post on Solana crypto blockchain and make yourself familiar with the blockchain. Let’s begin –
List of Noteworthy Partnerships –
Scaling Audius with Solana Crypto Blockchain:
Audius is a community-owned blockchain project that supports emerging artists by connecting them directly to the end-user. It has already surpassed over 800K monthly active users and is busy shaping the future of the music industry with its native Audius coin.
In order to meet the growing demand, it has chosen the Solana blockchain. Solana provides L1 and L2 scaling solution to Audius. While the partnership is inked, it may interest you to know that Audius has reviewed over 20 scaling solutions before choosing Solana.
Solana can process 50,000 transactions per second at just $0.00001 per interaction (approx).
Solana Partnership with FTX:
All eyeballs turned to Solana after it partnered with FTX (the leading crypto exchange) to build Serum. Serum is a high-speed, non-custodial, decentralized exchange built on the Solana blockchain. It is backed by Solana Foundation and FTX (Alameda research).
Serum is designed around an on-chain central limit order book (CLOB) to address the problems faced by mainstream DeFi protocols i.e high gas fee, slow transactions and liquidity segmentation. There’s no scope of centralization when the user interacts with Serum DEX.
Apart from Serum, FTX and Solana are also investing in Web3.0 gaming
Tether brings USDT to Solana Crypto Blockchain:
Stablecoins are necessary for every layer 1 blockchain and Solana is no different. Tether partnered with Solana to bring USDT on the Solana blockchain. As we speak, USDT is live on Solana.
USDT is the largest stablecoin by market cap and is used by several projects built on different blockchains.
Stablecoins plays pivotal role in cross-chain settlements
Solana Partnership with Chainlink:
Chainlink Crypto is the leading oracle that helps blockchains and DAPPS connect with the real world. Oracle brings real-time data like the weather forecasts or stock prices from off-chain to on-chain. Hence it helps supply essential elements to execute smart contracts (like AAVE Crypto Protocol).
Solana exclusively partnered with Chainlink to help support its growing ecosystem with relevant data sources. Interestingly, Chainlink has the capability to update prices every 400 ms with Solana’s architecture.
Solana Integration with Brave Browser:
Brave Browser (BAT Coin) is the leading web 3.0 browser that surpassed 50 million monthly active users last year. Brave Browser will integrate the Solana blockchain as default support for web3.0 applications.
With low transaction fees and faster transaction speed, Solana will encourage the adoption of web3.0 applications among Brave users. Solana will also help with cross-chain interactions and its native DAPPS.
There’s a bundle of promising projects developing on the Solana blockchain like Solice Crypto Metaverse, DeFi LAND and Star Atlas. Each serves a different set of audiences. There’re over 300 projects running on Solana and these partnerships may help boost the demand for $SOL token.
Solana Coin Price:
Checkout the latest price of Solana SOL coin –
This completes my review of Solana Partnerships. In the next post, I will talk about Avalanche Ecosystem. If you’re a fan of blockchain technology then please do share this post on your social handles and educate everyone around you. Do remember to subscribe to my YouTube channel for more informative content, released every week.
DISCLAIMER:
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their own investment decisions and should only invest in cryptocurrency after proper research.
An MBA in Marketing. Paras have a decade long experience in the corporate world. He is done with office politics and corporate life, therefore decided to move on and jumped on building Katoch Tubes. He is a crypto fanatic and has the vision to bring cryptocurrency knowledge to every household in the simplest form possible using the power of internet. His area of expertise includes online marketplace, cryptocurrency and content strategy. Reach out to him on Twitter & YouTube.
