Buy Solana in New Zealand (SOL)

Solana is a highly scalable decentralised computing platform that enables extremely fast low-cost transactions.

The Solana network was made to scale and offers very fast and cheap transactions. This is the primary reason why so many developers are choosing to build their projects on Solana. Solana claims that it will always keep its network fees under $0.01.

Solana is fast. Speed is its primary focus. It can process transactions with block times of 400 milliseconds, and Solana claims it will only become faster as hardware improves in the future.

Solana is a completely decentralised blockchain and is resistant to any form of censorship. Its network is secured by thousands of independent nodes.

Solana runs on a consensus mechanism called proof-of-history (PoH) to process lightning fast transactions.

The Solana blockchain runs on aProof of Stake (PoS) model but uses its own unique Proof of History (PoH) algorithm. PoH creates time stamps that prove when a block was created. Using both PoS and PoH together allows validators to trust the order of Solana transactions without having to wait for every node on the network to agree.

PoH allows Solana to process transactions with a throughput of 65k TPS (with a possible theoretical limit of 710,000 TPS in future).

Solana was the fastest blockchain in the industry until very recently, however, a new chain now claims to have an even higher throughput. Bitgert has launched BRC20 blockchain and claims to have a throughput of +100k TPS with a zero cost gas fee.

Anatoly Yakovenko first proposed Solana.

Solana’s whitepaper, published on November 2017 by Anatoly Yakovenko, outlined the concept of the proof-of-history consensus mechanism. Other co-founders included Raj Gokal, Greg Fitzgerald, and Stephen Akridge. The first Solana block was created on the 16 March 2020.

Solana’s community is a group of people from all over the world. They nurture the development of Solana and support the protocol. The project is managed by Solana Labs and the Solana Foundation.

No, as Solana (SOL) is a proof-of-stake coin, it cannot be mined.

Solana is a PoS blockchain so it cannot be mined, however, if you stake SOL by delegating your SOL tokens to a validator or becoming avalidator node yourself, you can earn more Solana.

Staking SOL can be a good option for some people who have bought Solana to hold it for the long term because over time you can accumulate more Solana through rewards. To learn more about staking SOL, visit Solana’s website.

Yes. Simply deposit NZD into your Independent Reserve trading account to buy SOL.

We are New Zealand’s trusted cryptocurrency exchange. Since 2013, our mission was to build the safest and most secure place to buy Solana and other cryptocurrencies in New Zealand.

Create your account today and choose from a wide range of features to improve your trading experience. We offer world-class security, low fees, a large OTC desk, with enhanced customer support to give you peace of mind.

Yes. Deposit NZD into your trading account to buy SOL in New Zealand on Independent Reserve.

Deposit NZD from your bank account into your Independent Reserve trading account. After you trade NZD for SOL your tokens will appear in your crypto wallet, where you can safely leave them to be stored on our exchange.

Unfortunately, we do not take credit or debit card. If you need more help, visit our support page. You can also download our app and purchase SOL on the go from your mobile device.