Hassan Maishera
On Friday, the Solana team announced via X that Fiserv's digital asset platform is live, with transactions processing on Solana.
Roughrider Coin, issued for the state-owned Bank of North Dakota, lets more than 90 banks and credit unions move money between them in seconds.
VersaBank issues Roughrider Coin and manages custody and reserves; Fireblocks provides the tokenization infrastructure, and transactions are processed on Solana. Banks reach it through Commercial Center, the system they already use for interbank transfers.
Solana is an integrated, open-source blockchain that synchronizes global information at the speed of light. The network is focused on fast transactions and high throughput to encourage mass consumer adoption of blockchain technology.
Solana is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.
The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
SOL is down 0.5% in the last 24 hours and trades at $120.59.
