So if you want to find out more stay tuned, what's up everybody randall here today, we're talking about solana and all their interesting stuff like proof of history, and what is that, but before we get into that, thank you to all you guys for watching. Thank you for liking. The video it helps out. The algorithm subscribing helps build the channel let's get to a hundred thousand. Subscribers also click the notification bell and if you want to win up to a thousand dollars a bitcoin a month, you could join these folks over on patreon, where we're giving away a thousand dollars a bitcoin a month. Plus we hang out on discord. We have special videos for them over there, so you can do all that stuff now about solana. This is a project that maybe got some potential before, but honestly, i think it hasn't gotten that much attention yet considering what it can do now. What does solana do? Well, it has super fast transaction times: 50 000 tps. It could handle everything that visa sees. This blockchain here could be used for every visa transaction period. You only need one blockchain one and done now. Conti, compare that to a theorem that needs that takes 15 transactions per second it's orders of magnitude, greater block times about 453 milliseconds and about 178 global validators it's, a web scale blockchain for fast, secure, scalable, decentralized, apps and marketplaces. Now it's got a lot of people in the ecosystem like chain link like civic, like r weave a bunch of other ones you might have heard of, and basically the biggest thing about.
Solana is one of these core innovations called proof of history and i'm going to have a video at the end of this, you can watch that explains proof of history in more detail for those of you who want to understand it, but basically it's taking snapshots a Long time and that sends it out to all the different nodes, so basically they can know from that snapshot what's, going on on the entire blockchain, without having to communicate with each different node. So it's pretty awesome in terms of what's going on there. They have a bunch of other stuff they're using a tower byzantine fault, tolerance, a bunch of other stuff there, including sea level, pipeline cloud, break, archivers, gulfstream and turbine. I guess i could tell you what they are, but you could just as well read them and they're aiming to build basically the next best blockchain out there having team members from all over now one of the cool things about solana. You can help secure the ledger. You can earn solana tokens, you don't have to go out and buy them, but if you did, you could find them on binance. You could find them potentially on crypto.com or coinbase. I did see some stuff about them on there, but you can find them pretty much. All over and you can get yourself some solano tokens. If you didn't want to buy them, you could become a validator and you could stake them and you could earn them.
I mean if we take a look at this over 1.5 billion transactions processed since march 2020. The fastest blockchain in the world, it costs not a cent, not a tenth of a cent or a hundred cents, but a thousandth of a cent per transaction. That means for like a million transactions that cost you ten dollars or something like that. Hun over 130 global validators, i told you about that. They even gamify it with tortoise soul. You could register it's an incentivized test net event. You could participate in that and earn some soul tokens now their token, the soul. Token it's two rings. I love how they do this whole gradient ingredients are super popular right now, especially these, like blue purple gradients, absolutely love it built built on a rock solid foundation for web 3.0. So let's take a look at everything: they're involved with so it's on ledger on coinbase custody, on trust, wallet on crypto.com binance exchange hummingbit for liquidity, also ftx bit max bit home bunch of other stuff, so very involved. And if we want to take a look at some really cool stuff, we could head over here to solana beach, dot io. This takes a look and shows you where all the validators are all over the globe, and it tells you the current leaders, and it tells you to slot the slot time, but also, if you want to take a look, it tells you about the circulating supply.
The stake, the current tps and what's, going on with that different stuff, but also, if you want to take a look at the validators, you can see who's winning once this loads. You can see it there. You can see who's winning in terms of validators, and you could even become one and start earning sold. Tokens now seems like a cool project. I mean there were other projects that toted touted large amounts of transactions per. Second. What was that big one that i don't know there was a big scam on darn. I think from russia forget the name of it right now, but if we take a look at what's going on with the price of solana right now, this is why i bring it up potentially because there was a huge run up: okay from may until august, the Price went up quite a bit from around 62 65 satoshi's to around 42 000 satoshi's it's 7xed, but guess what we've pulled back to potentially the 38.25 now that's, a very, very strong fib support level 38.2. Not only that, but also it was former resistance right here and almost support right there. So this is a very important level plus depending upon where you put these support lines with the earlier trends. You could potentially have a little bit of support being found right here. So interesting levels for solana right now price could rebound. From that i mean it. Tapped down price went back up if it taps down again and then goes up past the 50 fib that's a double bottom, and then the price would have like a 97 chance of 40 gains, which would probably bring us around to the 61.
8 fib, if not higher. The other thing to take a look at on token metrics, taking a look at it here, they do have actually the price predicted to be higher than where it is price. Right now is around 250. They have it up to 350, so a whole dollar, almost at 30 percent gains they're predicting now, overall token, metrics doesn't think too highly of sedona. They give it a solana, they give it a poor technology. 60. Technical analysis, 67 fundamentals. 57. But i think this is a big contender for projects like ethereum i mean ethereum will do great. It has ethereum 2.0 to go for, but this one blockchain alone could handle all visas transactions. So something worth thinking about something. To take a look at yourself not telling you to buy, but take a look at it, so thank you guys so much for watching. I will catch you later, make sure to like subscribe click, the notification bell and join us over on patreon i'll catch. You later have a good one. Peace proof of history enables the blockchain to work fast, while maintaining security and decentralization here's, an analogy. If snapshots of diffusion were scrambled, you would know how to place the resulting images in order again because of the laws of entropy. As a function of time, proof of history uses a recursive, verifiable delay function to hash incoming events and transactions. Every event has a unique hash and count along this data structure as a function of real time.
This information tells us what event had to come before. Another. Almost like a cryptographic timestamp giving us a verifiable ordering of events as a function of time, each node gets a cryptographic clock that helps the network agree on time and ordering of events without having to wait to hear from other nodes, unlike slower traditional blockchains, oftentimes, throttled By various consensus mechanisms, solana achieves high throughput without sacrificing network security visit solana.