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Solana Announces Solana Permissioned Environments, Allowing Enterprises to Run Private VM Instances

Key takeaways

  • Solana (SOL) reveals customizable, geofenced blockchain solutions for enterprise-grade dApp development
  • Solana Permissioned Environments (SPEs) will enable full control over private VM instances while also delivering the same performance benefits of the Solana consensus protocol
  • SOL has outperformed the market during 2023, the algorithm predicts a re-test of the yearly high during a 64% upward move in the coming months

Solana introduces customizable blockchain environments for large-scale businesses

Solana Permissioned Environments (SPEs) will enable fully customizable blockchain solutions for businesses seeking to launch applications on the Solana network. A key feature of SPEs is that they will allow large-scale businesses to retain full control over a collection of geofenced nodes — this enables more incredible customizability while still retaining the underlying performance benefits of the Solana blockchain.

An increasing number of businesses around the world are seeking to launch blockchain-based services, with several high-profile brands already choosing Solana as their preferred blockchain network. Google, ASICS, and Visa have each expressed an interest in using Solana to differing degrees. Solana’s new SPE solution is designed to help such users launch their ideal blockchain application.

SPEs can provide benefits such as greater visibility over the protocol and more control over users. They use a private virtual machine that supports dApp development with both Solidity and Rust and also runs on the Solana consensus protocol that boasts sub-second block finality. One of the biggest benefits for enterprises is that transactions on the Solana network typically cost $0.00009735 each — significantly lower than most interchange fees.

Ultimately, Solana hopes its SPE solution will encourage more enterprises to adopt the blockchain as their decentralized network of choice. Solana has been designed with scalability in mind, and stated that SPEs “enable a category of products in the Solana ecosystem that combine the Solana protocol’s unparalleled technology with the high customizability required for large-scale businesses.”

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The algorithm predicts a +64% move for SOL in the next 3 months

Despite bearish price action over recent years, including losing 92% of its value since forming an all-time high in November 2021, Solana (SOL) has outperformed the rest of the crypto market in 2023. Year-to-date, SOL has risen 95.68% while the total crypto market cap (TCAP) is just 34.98% up in the same timeframe.

Solana was one of the worst-performing cryptocurrencies in the aftermath of the FTX collapse in November 2022, with the price of SOL falling 67% in four days before eventually crashing below $10 for the first time since Q1 2021. Since then, however, the strong performance of SOL this year indicates strong demand for the token.

The CoinCodex algorithm expects SOL to re-test its yearly high within the next three months. SOL had reached its 2023 high of $32 in July before the recent retrace, and the algorithm has targeted a similar price level over the next 90 days. This would include a 64.62% move to the upside.

You can learn more about Solana’s recent price action and the network’s long-term potential by reading, Will Solana recover?

Bottom line

Solana aims to become the network of choice for enterprise-grade dApps. Solana is the best-performing blockchain in terms of transaction processing and also uses a virtual machine that enables more complex applications to be built within the ecosystem. Coupled with low gas fees and a token standard that is designed specifically for enterprise use, Solana is now well positioned to capitalize on the growing demand for decentralized services.

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