Name : Solana (SOL)
SOL Price : $241.02900 +2.86%
Consensus Mechanism : Combination of Proof of Stake and Proof of History
Volume: 6,960,452,565
Market Cap: 114,393,538,449
Shariah Judgement
Solana focuses on scalable blockchain that can solve problems found from existing crypto assets such as Bitcoin. Solana allows faster processing times using proof of history method. The overview of this asset is similar to Bitcoin, Litecoin, and Ethereum. Solana's status is neutral and permissible to own and trade.
Shariah Status : Yes
Last Screening: Q3 2023
Legitimacy:
Project:
Token:
Reward:
Shariah Status:
Yes
Risk Analysis
Shariah
Legitimacy
People
In-Depth Analysis
Shariah Analysis
| Project/Products | Use Case | Status |
|---|---|---|
| High-Performance Blockchain | Solana is designed for mass adoption and serves as a high-performance network with applications in finance, NFTs, payments, and gaming. It operates as a single global state machine and maintains openness, interoperability, and decentralization. | Passed |
| Ecosystem for Developers | Solana's project offers a developer-friendly ecosystem that allows the creation of decentralized applications (dApps) and other projects. | Passed |
| Use Case | Status |
|---|---|
| On-Chain Program Payment | Passed |
| Transaction Execution Fee | Passed |
| Staking Reward | Passed |
| System | Status | Interpretation |
|---|---|---|
| Staking Rewards | Passed | By contributing to staking, participants earn rewards sourced from transaction fees. |
Legitimacy Analysis
| Details | Status | |
|---|---|---|
| Whitepaper | The documentation covers various aspects of the Solana blockchain, including technical details, developer guides, and protocol specifications. The presence of detailed and well-maintained documentation enhances Solana's legitimacy as a legitimate and transparent project. | Passed |
| Project | Solana's legitimacy as a blockchain project is evident through its comprehensive and well-maintained documentation. The active engagement with the community through social media updates further establishes transparency and credibility. | Passed |
Additional Information : Solana is currently listed as digital assets up for trading on Recognized Market Operators approved by the Securities Commission of Malaysia to operate a Digital Asset Exchange.
People Analysis
| Details | Status | |
|---|---|---|
| Team | The team behind Solana comprises highly experienced individuals with strong expertise and a proven track record in the blockchain and cryptocurrency space. | Passed |
Trading Signals
Moving Average (Short Term)
Strong
Moving Average (Mid Term)
Strong
Moving Average (Long Term)
Strong
Exponential Moving Average (Short Term)
Strong
Exponential Moving Average (Mid Term)
Strong
Exponential Moving Average (Long Term)
Strong
Bollinger Band
Strong
Williams %R
Neutral
Relative Vigor Index
Weak
Money Flow Index
Neutral
Chaikin Oscillator
Strong
Aroon
Strong
Klinger Oscillator
Strong
Chande Kroll Stop
Weak
Moving Average Convergence/ Divergence
Strong
Relative Strength Index
Strong
Stochastic
Strongest
Parabolic SAR
Strong
Average Directional Index
Strong
Ichimoku Cloud
Neutral
Average True Range
Strong
Commodity Channel Index
Strong
On-Balance Volume
Strong
Volume Weighted Average Price
Neutral
Keltner Channel
Neutral
Dochian Channel
Neutral
Choppiness Index
Neutral
Ergodic Oscillator
Strong
Ease of Movement
Strong
Ultimate Oscillator
Neutral
Elder Force Index
Strong
Connors RSI
Neutral
Rate of Change
Strong
Chande Momentum Oscillator
Weak
Triple Exponential Average
Strong
Know Sure Thing
Strong
Detrended Price Oscillator
Strong
Moving Average Envelope
Weak
Coppock Curve
Strong
Vortex Indicator
Strong
Schaff Trend Cycle
Strong
Elder Impulse System
Strong
Pivot Points
Support 2
224.95
Support 1
230.19
Pivot Point
236.15
Resistance 1
241.39
Resistance 2
247.35
Support & Resistances
Support 1
157.75
Last Price
235.42
Resistance 1
239.79
Resistance 2
237.58
Overview
Solana is a high-performance blockchain designed for mass adoption, offering a wide range of use cases from finance to NFTs, payments, and gaming. Operating as a single global state machine, Solana stands out with its energy efficiency, lightning-fast transactions, and low costs. Utilizing proof of stake and innovative proof of history, it ensures quick validation without mining. As an open-source project based in Geneva, Switzerland, Solana provides developers the freedom to build dApps and projects within an ecosystem.
Whitepaper & Documents
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COMMENTS
3 Comments
Torii
7 months agoA very good screening report.
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Torii
May Allah bless the team.
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Shoaib Salmani
9 months agoHello sair
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Shoaib Salmani
9 months agoBius
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