• Solana may need to attract more developers despite the recent recovery.
• Depending on the state of the market in 2030, SOL may either be worth tens or thousands of dollars.

In the crypto market, it is not unusual for a project that was once pronounced irrelevant to revive. In Solana’s [SOL] case, the recovery since the FTX contagion has been one that may not be forgotten for a long time. For this reason, asset management firm VanEck, released a report discussing the future potential of the blockchain. 

How much are 1,10,100 SOLs worth today?

Solana rides on the SCP waves

According to VanEck, Solana’s strides with respect to Smart Contract Platforms (SCPs) is one factor that has kept the project influential. By definition, SCPs are systems that do not require any third-party interference when executing contracts on a blockchain.

While there are other SCP-compatible blockchains like the BNB Chain and Ethereum [ETH], none has been able to match Solana’s dominance in the sector. The VanEck report noted that the sector is positioned to experience a surge in adoption going forward.

But it also noted that to grow exponentially, it would need a killer application. VanEck explained no other chain fits that position other than Solana.

“And the chain that hosts that killer application stands to benefit immensely from the activity generated by that app. In this note, we model a scenario in which Solana is the first blockchain to host a single application that onboards 1

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Author: Victor Olanrewaju

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