In 2024, Solana‘s technological prowess continues to shine, propelling it forward as a leader in the blockchain space. Renowned for its unparalleled efficiency and scalability, Solana operates at layer-1, processing thousands of transactions per second while keeping fees to a minimum. This distinctive capability tackles the challenges faced by other blockchain protocols.
SOL, the native currency of Solana, experienced a tumultuous 2022 due to external factors, yet it rebounded impressively, soaring by 500%. Presently, over 70% of the total circulating SOL are staked.
The focus remains fixed on Solana in 2024, emphasizing its commitment to high-speed, low-latency transactions that underscore its significance in the blockchain landscape. The platform has magnetized diverse projects, from decentralized finance (defi) to non-fungible tokens (NFTs), projecting significant strides within its ecosystem this year.
Let’s delve into some of the standout Solana projects reshaping decentralized technologies:
- Crowny (CRWNY)
Crowny, a web3 loyalty and rewards platform, simplifies business onboarding via e-commerce plugins like Shopify, engaging users directly with their preferred brands. Launched in 2021, Crowny pioneers early in the Solana realm, attracting grants from top ecosystem participants. CRWNY, currently at a market cap of $4 million, offers practical utility, facilitating businesses to swiftly connect with their audiences and optimize loyalty solutions, eliminating crypto complexities. - JITO
JITO, a leading Solana MEV infrastructure provider and liquid staking platform, boasts approximately 6 million staked SOL, 34,000 holders, 77 validators, and an APY of 6.71%. Offering users liquidity on staked SOL for defi use, JITO ensures complete fund control, setting itself apart from Ethereum’s relatively limited liquid staking options. - Raydium (RAY)
Raydium, a premier defi protocol on Solana, recently unveiled Raydium V3 open-beta, a highly optimized dapp enhancing speed and efficiency. Notably, Raydium commands substantial trading volume, signaling escalating demand for decentralized exchanges (DEXs) amidst SOL’s expansion. With one of the highest total value locked (TVL) on Solana, Raydium leads the way in defi, surpassing competitors like Jupiter, known for its airdrop campaigns. - Solana FM
Solana FM redefines Solana exploration with Quantum, an upcoming explorer featuring an improved user interface. Quantum promises a seamless experience, eliminating transaction complexities and manual searches. Early Access slots offer users firsthand access, reflecting Solana FM’s commitment to user-centric exploration. - GenesysGo (SHDW)
GenesysGo fortifies blockchain infrastructure with shdwDrive and the SHDW utility token. The platform aims to expand Solana’s infrastructure, enhancing decentralization and censorship resistance. The D.A.G.G.E.R. live testnet focuses on marketing and visibility, as shdwDrive and SHDW prepare to take the spotlight at crypto events in 2024. Integrating cross-chain liquidity and Auditor Nodes incentivizing SHDW earnings through mobile devices, GenesysGo sets new standards in blockchain functionality and inclusivity.
