Analytics Insight features the top Solana Ecosystem tokens in August 2021
Solana Ecosystem is known as a high-performance blockchain supporting platform around the world to create cryptocurrency apps for millions of users. It provides block explorer, network performance as well as stake distribution to view different network stake statistics across the Solana blockchain. The Solana Ecosystem platform offers almost 249 services such as analytics, cryptocurrency apps, exchange, investment funds, Oracle, tools, wallets, and many more. It helps to build cryptocurrency apps with different products such as 1Sol, Solana Explorer, Solana Beach, Solana Project, SolFarm, and Solaris. Solana Ecosystem is known for its fast, secure, and censorship-resistant blockchain that provides an open infrastructure for global adoption. It can also process more than 50,000 transactions per second and 400ms block times with Solana Ecosystem tokens.
Solana Ecosystem tokens are the native cryptocurrencies in Solana’s ecosystem that can pass to nodes within the Solana cluster. Let’s explore some of the top Solana Ecosystem tokens by market capitalization in August 2021, according to the CoinMarketCap.
Market capitalization: US$ 62,022,300,989
Tether is known for converting cash into digital currency and anchoring the value to the price of multiple national currencies such as the US dollar, the Euro, and many more. It is one of the controversial cryptocurrencies with tokens issued by Tether Limited. Tether helps to store, send, and receive one-to-one pegged digital currency across different exchanges, platforms as well as wallets.
Market capitalization: US$10,500,570,703
Chainlink is popular for its decentralized oracle network that provides reliable and tamper-proof inputs for complex smart contracts on any blockchain. It is built on a flexible framework to retrieve real-time data from any API and integrate with any blockchain at present and in nearby future. Chainlink enables access to real-time data and off-chain computation to maintain the hi-tech security of blockchain technology.
Market capitalization: US$9,305,818,052
Solana is well-known for a highly functional open-source project that depends on blockchain technology features to offer decentralized finance solutions. It is created to facilitate DApp creation as a part of a cryptocurrency app. The aim is to enhance scalability by introducing a proof-of-history consensus with the underlying proof-of-stake consensus of the blockchain.
Market capitalization: US$5,832,831,352
Terra is known as programmable money for the internet to make stable coins available on each blockchain. Anchor Protocol helps Terra stable coin to earn stable yields with leading proof-of-stake blockchains. Currently, it is live on Ethereum and Solana to reduce the volatility endemic to cryptocurrencies such as Bitcoin.
The Graph (GRT)
Market capitalization: US$3,032,889,688
The Graph is known to be an indexing protocol for querying networks such as Ethereum and IPFS. It offers services to decentralized finance platforms, governance, grants and philanthropy, marketplaces, entertainment, and social on a shared neutral foundation. The Graph Network is an open network with the fastest and cheapest way to access real-time data for the cryptocurrency market.
Market capitalization: US$419,222,665
RenVM is a permissionless and decentralized virtual machine protocol with a secure network to power interoperability for allowing cross-chain lending, exchanges, and collateralization. It is powered by a network of machines known as Darknodes to earn rewards for contributing compute power and storage space.
Market capitalization: US$374,237,783
Arweave utilizes a native cryptocurrency known as AR for paying miners to indefinitely store the network’s information. It allows storing documents and applications with a new type of storage to back the data efficiently. It leverages technology for papers, block weaves and proof-of-access, storage endowment, permaweb, and content moderation.
Band Protocol (BAND)
Market capitalization: US$221,410,813
Brand Protocol is well-known for its cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. It also ensures interoperability by building a decentralized bridge for connecting blockchain and smart contracts. It provides a blockchain-agnostic, decentralized oracle framework for Web 3.0 applications. Bandchain has certain features such as connect smart contracts, a dozen of oracle scripts, programmable oracle scripts, and cross-chain compatibility.
Market capitalization: US$215,355,406
The serum is a popular decentralized exchange and ecosystem to bring unprecedented speed as well as low transaction costs. It is built on Solana with completely permissionless. It offers on-chain order books with an interface familiar to that of centralized exchanges with Serum tokens.
Market capitalization: US$174,739,532
The main aim of Civic is to provide more control, access, and privacy for personal data and protect digital identities with simple solutions. This will help in free access to cryptocurrencies and user-friendly transactions through Civic Wallet.