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Solana co-founders, Anatoly Yakovenko and Raj Gokal, recently shared a vision for their Solana community. In a recent tweet by Solana, they noted that “2023 will be a year when the Solana community takes the reins and continues to build the framework for a decentralized and permissionless economy.”
Solana Community Growth
The Solana co-founders seemed quite optimistic from the year 2023. According to their report, the recent turbulence in the crypto market and constant FUD, did not affect their recent Electric Capital Developer Report.
The report confirmed that builders are flocking to Solana. And noted around 8% growth year-over-year for the full time developers in the broader crypto community. There is an increase noted in the developer numbers on Solana as of December 2022, from a year earlier.
At present, there are over 2,000 monthly active developers building on Solana that is almost second only to Ethereum.
Solana co-founders say their growth is organic and “now thousands of teams are building projects, dApps, and tools” with them. As it provides high throughput and low fees, which they have called “a vindication.”
Not only the growth part the Solana team has mentioned, but they have also written about the web3 failure in 2022.
Even after the bearish market phase throughout 2022, the Solana network noted “massive increase in the number of validators.” By more than 2,000 nodes that are running the blockchain, has made Solana one of the world’s most decentralized blockchains. It was measured by the Nakamoto coefficient.”
Even in times of market volatility, a series of upgrades has stabilized and strengthened the Solana network.
On Solana, there are many projects that have already started to unlock the power of high throughput. Some of them are, “Parcl, a virtual real estate app; Hivemapper, a decentralized map; permissionless payment protocols, the decentralized ridesharing platform Teleport; the community-run order book OpenBook; Solana Mobile’s web3-first Saga phone; the censorship-resistant publishing platform Wordcel; Pyth’s high-fidelity market data; and many more.”
The Solana community is looking forward and optimistic about this year. And has always been among the cheapest blockchains. “It can process thousands of transactions per second on its base layer,” as Solana co-founder noted.
The bear market was a fantastic opportunity for the Solana community, as it has improved its network. And also contributed to the broader web3 space.
Furthermore, the native token of Solana community $SOL has been performing quite well since the starting of 2023. In just one month, the price of SOL increased by more than 130%. However, it is currently trading at a price of $23.49 with a decline of 1.25%.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
