Solana is a level one blockchain designed for scalability and usability in decentralized applications. The Solana blockchain, which was first launched in 2019 by the Solana Foundation, has swiftly gained popularity as a high-performance blockchain. Similarly to how users trade on the Ethereum blockchain using the native currency ETH, users transact on the Solana blockchain with SOL. SOL may be purchased using fiat cash on a prominent cryptocurrency exchange such as FTX.
So, why Solana?
The fundamental goal of the Solana blockchain is to provide developers and consumers with fast speeds and minimal transaction fees. Solana can now process 50,000 transactions per second, much above Ethereum's limit of 15 transactions per second. Because Solana offers such quick transactions with low costs, it is often regarded as the Ethereum blockchain's main competitor and opponent.
Furthermore, Solana is always on-chain! Solana enables a completely decentralized on-chain interface for artists and collectors, from auctions to everlasting royalties programmed directly into the NFT. It also strives for extremely high NFT standards. You can concentrate on the artwork rather than creating a new smart contract. The Solana NFT standard and minting software are highly customizable and have ecosystem-wide support. Finally, the Solana network is built on persistent storage capabilities. You can c onfigure the appropriate web3 storage option for your project, whether it's ARweave's permanent, decentralized storage or another popular standard like IPFS.
Always keep in mind that you have the choice when it comes to NFTs. It all goes back to your research and knowledge. The more the knowledge, the lesser the risk! There are several networks to choose from, but those who can get you what you need and want, are limited. It also takes time and experience to nail the right one, all depending on your goal! So, what would you choose?