Name: Solana ID
Brand: Solana ID
SKU: SOLID
Price: 0.063 USD
Availability: InStock

Question 1

What is Solana ID (SOLID)?

Accepted Answer

Solana ID (SOLID) is a protocol on the Solana blockchain that transforms standard wallet addresses into comprehensive, reputation-based accounts. By attaching contextual reputation scores to users' addresses, it enables decentralised applications (dApps) to offer personalised experiences, such as tailored discounts, rewards, and offers, based on users' on-chain activity. More about Solana ID (SOLID) can be found in the SwissBorg Academy here.

Question 2

What differentiates Solana ID (SOLID) from other tokens?

Accepted Answer

Solana ID (SOLID) stands out from other tokens by focusing on user reputation and data monetisation within the Solana blockchain ecosystem. Unlike generic utility tokens, SOLID integrates directly with the Solana ID protocol to enhance user experiences by enabling personalised interactions, rewards, and offers based on a user’s on-chain reputation and activity.

Question 3

What is the utility of Solana ID (SOLID)?

Accepted Answer

The SOLID token serves multiple functions within the Solana ID ecosystem, including data monetisation, allowing users to earn tokens by sharing their data, and reputation staking, enabling users to stake SOLID tokens to enhance their reputation scores within the network.

Question 4

What does the Solana ID (SOLID) whitepaper promise?

Accepted Answer

The Solana ID whitepaper promises a user-centric digital environment where individuals have full control over their data. It emphasises privacy and security through decentralised identifiers, verifiable credentials, and zero-knowledge proofs, aiming to build a trusted system for distinguishing genuine contributors in decentralised platforms.

Question 5

What consensus mechanism does Solana ID (SOLID) use?

Accepted Answer

Solana ID operates on the Solana blockchain, which utilises a Proof-of-Stake (PoS) consensus mechanism. This mechanism is designed to provide high performance and scalability for decentralised applications.

Question 6

Who created Solana ID and why?

Accepted Answer

Solana ID was created by Digitalsocial.ID Ltd., represented by Simon Molitor and Pierre Stoll. The project aims to empower users by allowing them to manage and monetise their data with full control and privacy, providing a reputation-based system for better personalised dApp interactions.

Question 7

When was the Solana ID (SOLID) token created?

Accepted Answer

The SOLID token was launched in December 2024, in the SwissBorg app via the Alpha vaults and on other decentralised exchanges (DEX).

Question 8

How do I use the Solana ID (SOLID) token?

Accepted Answer

Users can use SOLID tokens to stake for enhancing their reputation scores, access exclusive benefits, discounts, and early access to games and applications offered by partner dApps.

Question 9

Where do I buy the Solana ID (SOLID) token?

Accepted Answer

Solana ID (SOLID) can be bought on the SwissBorg app in just a few clicks. Download the app for Android or iOS and exchange cryptos instantly at the best price.

Question 10

What problem or need does Solana ID aim to address?

Accepted Answer

Solana ID aims to address the lack of personalised user experiences in the blockchain space by enabling users to build and manage their on-chain reputations. This helps dApps identify genuine users and offer tailored rewards, enhancing the blockchain ecosystem.

Question 11

Is the Solana ID (SOLID) open-source, and can I review its code?

Accepted Answer

Yes, the cryptocurrency Solana ID (SOLID) is open-source. You can review its code and understand how it functions through its GitHub repository or other platforms that host the project's source code.

Question 12

How was the Solana ID (SOLID) token generated?

Accepted Answer

The Solana ID (SOLID) token is generated through a combination of user interactions and on-chain reputation scoring. Users can earn rewards by linking their digital activities with their crypto wallets, which creates a decentralized model where the token is tied to the unique reputations and contributions of its users.

Question 13

What is the Solana ID (SOLID) transaction speed and scalability?

Accepted Answer

Operating on the Solana blockchain, Solana ID benefits from Solana's high transaction speeds and scalability. Solana can handle thousands of transactions per second, making it suitable for applications requiring high throughput.

Question 14

Is Solana ID (SOLID) environmentally friendly in terms of energy consumption?

Accepted Answer

Yes, Solana's Proof-of-Stake consensus mechanism is more energy-efficient than Proof-of-Work systems, making Solana ID environmentally friendly.

Question 15

What is the governance model for Solana ID (SOLID)?

Accepted Answer

The governance model for Solana ID will eventually allow token holders to participate in the decision-making process. This includes decisions on algorithm modifications for score calculations, credential issuance, and related systemic design choices, creating a democratic approach to governance within the ecosystem.

Question 16

What are the long-term goals and vision for Solana ID?

Accepted Answer

Solana ID envisions creating a trusted digital environment where users have full control over their data and can monetise it as they see fit. It aims to foster a personalised and user-centric blockchain ecosystem through on-chain reputation building.

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Market Stats

What is Solana ID (SOLID)?

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Solana ID Price

Top up and invest in seconds!

Market Stats

What is Solana ID (SOLID)?

What differentiates Solana ID (SOLID) from other tokens?

What is the utility of Solana ID (SOLID)?

What does the Solana ID (SOLID) whitepaper promise?

What consensus mechanism does Solana ID (SOLID) use?

Who created Solana ID and why?

When was the Solana ID (SOLID) token created?

How do I use the Solana ID (SOLID) token?

Where do I buy the Solana ID (SOLID) token?

What problem or need does Solana ID aim to address?

Is the Solana ID (SOLID) open-source, and can I review its code?

How was the Solana ID (SOLID) token generated?

What is the Solana ID (SOLID) transaction speed and scalability?

Is Solana ID (SOLID) environmentally friendly in terms of energy consumption?

What is the governance model for Solana ID (SOLID)?

What are the long-term goals and vision for Solana ID?

SwissBorg Indicators

Technical Analysis

Exclusive tools

Automate your investment today!

Receive notifications when Solana ID reaches certain prices

Begin your Borger Journey today with the SwissBorg app!

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