The bit4you trading platform is happy to inform that its clients can now buy, sell, trade, and exchange Solana and Uniswap for more than 20 crypto-assets listed on the website. Furthermore, new features on the bit4you platform make it easier to diversify your crypto portfolio using Solana, Uniswap, or both at the same time and take advantage of crypto trading.
Given that our world develops so rapidly to the point where crypto-assets are going to take their rightful place in the financial sector, we should pay attention to technological innovations in the world of cryptocurrencies. If you want to learn more about the technologies that power Solana and Uniswap, their history, characteristics, and features, keep reading this article.
Solana (SOL) is a cutting-edge open-source blockchain project that promises to use multiple innovations for the next generation of DApps and smart contracts. In 2021, the SOL coin of blockchain platform Solana has increased in value 45 times. Only in the previous month has the value of SOL climbed 2.6 times, and on August 17 it achieved its all-time high of $74 per coin. As a result, Solana is among the top ten most valuable coins according to CoinMarketCap. Solana reached $74 on August 17 — this is the token’s high so far. By the way, Solana development began in 2017. Anatoly Yakovenko, a former Qualcomm and Dropbox developer, was the first to publish a white paper on Solana at the time. There, he described the Proof-of-History consensus algorithm he created in the paper.
Solana’s scaling solution is built around a decentralized clock called Proof-of-History (PoH), which is aimed to handle the problem of time in dispersed networks where there is no single, dependable time source. PoH uses verifiable delay functions to enable each node to compute timestamps locally using SHA256 computation. This reduces the need to send timestamps across the network, which improves network efficiency overall. The primary competitive advantage of Solana is its high scalability and low fees. During testing, it was discovered that the network throughput ranges between 50,000 and 191,000 transactions per second, the block generation time ranges between 400 ms, and the average price per transaction is $0.00025. In the future, the developers hope to achieve speeds of more than 700 hundred transactions per second. Compared with Solana, Ethereum has a throughput of 30 transactions per second with a block generation time of 12.5 seconds.
Uniswap (UNI) is a coin issued on September 16, 2020, by the same-named decentralized exchange based on Ethereum blockchain and uses smart contracts. On the same day, it was added to the Binance exchange’s listing. Since its inception, Uniswap has been actively expanding, evolving, and self-sustaining under the full direction of the community. The addition of UNI is mostly required to support the governance rules that allow the protocol to expand further. To have an account on Uniswap exchange, KYC is not required as well as the user does not have to provide his confidential data. All you need to do is to connect your crypto wallet.
Important to note, there was no ICO for the Uniswap coin. In September 2020, it was issued and delivered to users. Before September 2020, everybody who used the Uniswap exchange received 400 UNI coins. Each coin was worth $2 at the time of delivery, rising to $4 on the first day. According to Coinmarketcap, UNI rates are now $30.11. The total UNI coin number is limited to 1 billion and all project participants will receive coins in the next 4 years.
You will be glad to know that the UNI network is highly self-administrated. UNI token holders have full control over the network and its development. According to the “long-term radically responsible approach to governance” of Uniswap developers, UNI holders can launch grants, fund product development, and apply token stocks in any other way they see fit. The community gets to set Uniswap commissions through voting. Community members are also responsible for making sure the project works as required by regulators. In addition, they can bring in legal and regulatory experts before making changes to the operation of the project.
You are probably aware that the crypto market is extremely volatile, so currency rates fluctuate every minute! So we recommend you visit our Academy before going into trading. There you will find articles on a wide variety of topics related to the crypto world and useful tips that you may find handy during your crypto journey. Moreover, trading with new assets requires special skills and necessary knowledge, so you can practice with bit4you Demo mode. Demo mode is designed to help users get familiar with the crypto industry and discover how the market works. In this way, bit4you has all to facilitate you with the understanding of the crypto world and give you all necessary to trade without stress.
Valentina BEREZA, Team bit4you