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Solana’s Scorching Network Congestion – How Solaxy’s L2 Solution Aims to Boost Speeds
Scaling Solana – How Solaxy’s New L2 Solution Aims to Boost Speeds
Solana is one of the largest blockchains in the world, but network congestion remains a significant issue. That’s where Solaxy (SOLX) comes in. This new Layer-2 solution for Solana has raised over $20 million in presale funding.
The Problem with Solana’s Network Congestion
Solana can theoretically handle up to 65,000 transactions per second, but when hype kicks in, like with a new meme coin launch, the network can still become clogged. Solaxy’s team wants to solve this issue permanently.
How Solaxy’s Solution Works
Solaxy’s team wants to add an extra "lane" to Solana, reducing the computational load on the main chain. Instead of every transaction competing for space, Solaxy processes them off-chain, bundles them together, and then settles them back on Solana. The result is faster speeds, lower fees, and a better user experience.
The SOLX Token
Solaxy’s native token, SOLX, powers this ecosystem. It will be used for gas fees, staking rewards, governance, and more. It will also be part of Solaxy’s multi-chain bridge that’s planning to connect the Ethereum and Solana ecosystems.
The Hype Around Solaxy
The excitement surrounding Solaxy has been building since its presale kicked off in mid-December. In just two months, the project has raised $20.4 million. It’s averaging a massive $300,000 in daily investments – or about $2 million per week. This kind of momentum demonstrates serious investor confidence in Solaxy’s vision for scaling Solana.
What’s Next for SOLX?
Right now, SOLX tokens are priced at $0.001634 each. But that price won’t last much longer, as a scheduled price increase is set to occur in less than 48 hours, adding a sense of urgency for those still on the fence. YouTuber NASS CRYPTO recently called it one of the "top crypto presales" to invest in right now.
Conclusion
Solaxy’s winning formula combines meme coin appeal with real-world utility, tackling a genuine issue in the crypto space. With its mix of viral appeal and actual problem-solving, it could stand out in today’s market. And its timing couldn’t be better, with speculation ramping up around potential Solana ETF approvals this year, which could spike demand for SOL.
Frequently Asked Questions
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What is Solaxy?
Solaxy is a Layer-2 solution for Solana that aims to reduce network congestion by processing transactions off-chain and settling them back on Solana. -
What is the SOLX token?
SOLX is the native token of Solaxy, used for gas fees, staking rewards, governance, and more. -
How much has Solaxy raised in presale funding?
Solaxy has raised over $20 million in presale funding. -
When is the next price increase for SOLX?
A scheduled price increase is set to occur in less than 48 hours, adding a sense of urgency for those still on the fence. - What is the current price of SOLX?
The current price of SOLX is $0.001634 per token.
