Solana (SOL) is one of the most popular digital assets trading in the marketplace. SOL has rocketed higher in 2021 generating spectacular returns. SOL started at less than $2 at the beginning of the year and now trades at around $215 after topping out an all time high of over $250.
Grayscale explains Solana as follows:
“… the Solana network, a smart contract platform first conceived in a 2017 whitepaper. Like the Ethereum network, the Solana network is one of a number of projects intended to expand blockchain use beyond just a peer-to-peer money system. Solana introduced the Proof-of-History (PoH) consensus mechanism as an alternative to pure Proof-of-Stake (PoS) and Proof-of-Work (PoW) blockchains. Solana supports high-speed and low-cost transactions on a single-layer blockchain, alleviating the need for additional scaling solutions that other networks typically require. The SOL token is used for (i) powering Decentralized Applications (dApps), (ii) making payments, (iii) paying network fees, (iv) providing network security via staking, and (v) facilitating network governance.”
The Solana Trust is a Delaware Grantor Trust and offered through a Reg D, 506c offering. The Trust will hold SOL as a passive investment. Grayscale hopes to publicly trade the Trust at some point in the future.
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