Interestingly, Amazon Web Services (AWS) could make Solana (SOL), the world’s most valuable blockchain.
Developers can deploy Solana nodes as a code app in the AWS Blockchain Node Runners repository. They claim developers can deploy Remote Procedure Calls (RPC) nodes with minimal effort and a low cost. Hence, developers can connect AWS decentralized apps (dApps) to Solana’s blockchain. Accordingly, Solana Blockchain Node Development Blueprints are available on AWS.
In detail, developers can install Solana Consensus nodes, base RPC nodes with no secondary indexes, and extended RPC nodes with secondary indexes on AWS. A consensus node is a mechanism that verifies blockchain transactions. For example, Proof-of-Work (PoW) and Proof-of-Stake (PoS).
Solana is now on AWS
Therefore, the Solana Foundation claims its blockchain can process transactions on Amazon Web Services (AWS). This is huge because Amazon Web Services is the world’s largest cloud infrastructure services vendor. AWS had 32% of the global cloud infrastructure services market in the fourth quarter of 2022, Statista estimates.
The Solana Foundation leaders hope large traditional finance firms will use their blockchain to launch decentralized finance (DeFi) projects on AWS. AWS is the most extensive global cloud infrastructure provider, with data centers in many countries. Amazon claims AWS operates in 30 regions worldwide with four more coming.
AWS offers over 200 products and services. Those services include computing, cloud storage, database services, networking, content delivery, analytics, machine learning, security services, identity services, and compliance services.
Currently, AWS supports hundreds of apps such as AWS IoT FleetWise which collects vehicle data on the cloud. Meanwhile AWS IoT Core, connects Internet of Things (IoT) devices to the cloud. Meanwhile, Amazon Augmented AI (artificial intelligence) supports the human review of Machine Learning predictions. Plus, Amazon GameLift offers dedicated game server hosting.
Thus, Solana is operating on the world’s most popular cloud infrastructure. Importantly, some of the world’s largest companies including Disney (DIS), Samsung, Verizon, Toyota (TM), Salesforce, BP, Volkswagen, Netflix (NFLX), and Pinterest use AWS.
What is Solana (SOL)?
Solana (SOL) is a layer 1 blockchain. A layer 1 is the blockchain infrastructure they build blockchain projects on.
For example, smart contracts and DeFi protocols need layer 1 blockchains to operate on. Importantly, Solana claims companies can accept stablecoin payment in the Solana ecosystem with Solana Pay. A stablecoin is a cryptocurrency that contains a smart contract that makes payment in a fiat currency.
For example, the Tether (USDT) stablecoin makes payment in US dollars held in trust accounts. Stablecoin processing is important because it allows merchants to get paid and make payments in fiat currencies.
A Solana app they call Decaf creates a Solana-compatible point-of-sale system that can accept stablecoin payment. Tiplink allows users to send links as wallets. Those you can add wallets to apps as links. Tiplink users can transmit nonfungible tokens (NFTs) and other digital assets with a link, QR Code, and NFC tap even if they have no wallet.
Solana + Shopify
Moreover, there is a Solana Pay app for Shopify (SHOP). Significantly, the Shopify App lets Shopify store operators accept stablecoin payments. Working with Shopify is a smart move.
Over 4.36 million websites were using Shopify in August 2023, Demandsage estimates. They claim over 700 million customers bought through Shopify in the first seven months of 2023. Shopify is now available in over 175 countries. Plus, Shopify processed over $79.5 billion in orders in 2022.
Solana claims to support over 11.5 million active accounts. They claim users have minted 21.9 million NFTs on Solana. Solana claims to be fast and low cost. They Solana’s average cost per transaction was $0.00025 on 4 December 2023.
Solana uses 1,945 validator nodes to support its network. They claim that network is scalable. They claim Solana could process 3,076 transactions per second (TPS) on 4 December 2023. Thus, Solana can process hundreds of transactions a second.
Thus, Solana can theoretically serve mass markets. For example, a game can accept Solana payments from hundreds of players at once without collapsing.
What Value can Solana (SOL) can acquire?
Mr. Market thinks Solana’s strategy of trying to serve actual people in the real world is working. For example, Solana was CoinMarketCap’s third most trending cryptocurrency on 4 December 2023.
Solana was CoinMarketCap’s sixth largest cryptocurrency, with a $60.81 Coin Price on 4 December 2023. In particular, Solana (SOL) had a $34.294 billion Fully Diluted Market Cap, a $25.808 billion Market Capitalization, and a $2.147 billion 24-Hour Market Volume on 4 December 2023. They base those numbers on a Circulating Supply of 424.332 million SOL and a 564.017 million SOL Total Supply.
I think Mr. Market fairly values Solana (SOL) because it has a strategy that can reach a mass market. In particular, Solana tries to service actual people by working with services that reach a mass market. For example, AWS and Shopify. Thus, Solana is reaching the mass market.
If you want a cryptocurrency that can achieve enormous value by reaching a mass market. Solana (SOL) is worth examining. I think Solana is one cryptocurrency that Mr. Market fairly values.
*https://solana.com/news/solana-blockchain-node-development-blueprints-available-on-aws
*https://www.investopedia.com/terms/c/consensus-mechanism-cryptocurrency.asp
*https://www.statista.com/statistics/967365/worldwide-cloud-infrastructure-services-market-share-vendor/#:~:text=In%20the%20fourth%20quarter%20of,with%2010%20percent%20market%20share.
*https://aws.amazon.com/what-is-aws/
*https://aws.amazon.com/products/?pg=WIAWS-N&tile=learn_more&aws-products-all.sort-by=item.additionalFields.productNameLowercase&aws-products-all.sort-order=asc&awsf.re%3AInvent=*all&awsf.Free%20Tier%20Type=*all&awsf.tech-category=*all
*https://www.demandsage.com/shopify-statistics/#:~:text=Shopify%20is%20used%20by%204.36,the%20number%20is%206.95%20million.
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