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Solana and Reddit together with 100 million, decentralized social is coming

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Reddit And Solana: two ingredients that, if put together, would be capable of arousing the interest of even the less attentive crypto investor. There bombshell that comes from States today is this, with a joint investment of 100 million dollars which has one of the protagonists founders of the popular social network and the fund that instead deals with investing in projects related to $ SOL.

Reason for cooperation? The making of a social media that is completely decentralized – and that it can therefore exceed the system to Facebook which has shown all its limits, even following the recent scandals that hit Mark Zuckerberg’s company.

Web3 and social networks: is Reddit coming?

Or it would be better to say that the Reddit co-founder Alexis Ohanian, which shouldn’t exactly be a new name for anyone who follows the cryptocurrency world closely. During the Solana Breakpoint, the conference being held at Lisbon and that deals with the entire ecosystem linked to this blockchain, an investment by 100 million dollars, which will see both economically committed Ohanian is instead the Solana Ventures, the economic association that deals with finance projects for SOL.

What’s at stake? Creating a social network completely decentralized and which will run on the blockchain from Solana. A plan that was explained in detail by Ohanian himself.

We have a high-performance blockchain like Solana, which offers us a never-before-seen opportunity to unite the crypto and social worlds, in a way that will have the feeling platforms Web2, but with the incentive of empowering users, with real ownership of data and interactions. We are at a turning point in these early days of Web3 and we are delighted to partner with Solana to support the companies that are building this new era for social networks.

Speed, low transaction costs and reliability of the group are decreeing the success, important, of SOL also in the sector of Decentralized apps – which is then parallel to that of the DeFi.

What does this mean for Solana?

It’s something of a baptism of fire, because it could potentially be the most relevant project, both commercially and financially, running on its blockchain. The investment is a major one – and will equally push for greater use of SOL even compared to the rival of all time, the best known and most famous ETH.

Solana is a coin with very low capitalization, it is proving to be the true potential ETH Killer, even if of this, with the evolutions of the Web3, there probably won’t be any need.

Because decentralization and blockchain will be sectors in such demand as to guarantee practically all the best projects a substantial portion of the public, on which to build organic growth also on a financial level.

Despite Solana continues to be very close to its maximum price peak – it should still be carefully evaluated, especially if our goal is to include alternatives to classic cryptocurrencies in our portfolio.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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