Solana (SOL -6.29 %) and the cryptocurrency sector as a general have had a tough year, with the stock down 78 percent year to year.

Solana is a blockchain platform for decentralised apps (dApps), which are self-contained programmes that employ smart contracts to provide network functions.

What is Solana?

Because of its improved speeds and scalability compared to Ethereum, the current industry leader in these offers, it is one of several blockchains dubbed "Ethereum killers."

What is Solana?

Solana's anticipated transaction capability of 50,000 per second outperforms Ethereum (which can only handle 15 per second).

 It also has a proof-of-stake (PoS) consensus mechanism, which allows miners to validate transactions and create new ones by using existing currencies. This technique is more energy-efficient than Ethereum's proof-of-work process

Despite its numerous advantages, Solana is not without problems.  Solana has already experienced five major outages in 2022, which may help explain its dramatic decrease in worth this year.

The most recent collapse happened earlier this month, when the network was unable to achieve a consensus to confirm new transactions for many hours. But Solana's creator, Solana Labs, is working hard to address these issues.

With crypto in a bear market, it's reasonable that many investors would want to wait a few months for the dust to settle before investing.

Having said that, Solana appears to be a wonderful option to gamble on a crypto comeback due to its industry-leading technological skills.

Check out what Fidelity CEO Abigail Johnson says about this

Should You invest in crypto during this bear market?


Solana is down by78%,