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Convert and Swap Solana SOL to Malagasy Ariary MGA

SOL/MGA: 1 Solana equals MGA 653,284.07 MGA

Last update: 2:55 PM, October 5, 2024

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Solana is falling this week.

The current price of Solana is MGA 653,284.07 per SOL. With a circulating supply of 468,597,170.596 SOL, it means that Solana has a total market cap of MGA 306,715,391,177,015.70. The amount of Solana traded has fallen by MGA 2,538,651,964,508 in the last 24 hours, which is a 34.90% decrease. Additionally, in the last day, MGA 7,274,637,384,271 worth of SOL has been traded.

MGA 306.7T
MGA 7.3T
468.6M SOL

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About Solana

Solana is a decentralized computing platform that uses SOL to pay for transactions. Solana aims to improve blockchain scalability by using a combination of proof of stake consensus and so-called proof of history. As a result, Solana claims to be able to support 50,000 transactions per second without sacrificing decentralization.

Solana (SOL) is an open-source project that leverages the decentralized nature of blockchain technology to provide solutions for decentralized finance (DeFi). Launched in March 2020 by the Solana Foundation, based in Geneva, Switzerland, Solana aims to facilitate the creation of decentralized applications (DApps). The Solana protocol is designed to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain. This innovative hybrid consensus model has garnered interest from a diverse range of traders. A key focus for the Solana Foundation is to make decentralized finance more accessible on a larger scale.

Solana operates using a unique combination of proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms. The proof-of-history is the main component of the Solana protocol, responsible for the majority of transaction processing. PoH records successful operations and the time that has passed between them, thus ensuring the trustless nature of the blockchain. The proof-of-stake (PoS) consensus is used as a monitoring tool for the PoH processes, validating each sequence of blocks produced by it. This combination of two consensus mechanisms makes Solana a unique phenomenon in the blockchain industry. Solana's protocol is designed to serve both small-time users and enterprise customers alike, promising low transaction costs while still guaranteeing scalability and fast processing.

Solana's potential use cases span across various sectors, with a significant focus on decentralized finance (DeFi). By facilitating the creation of decentralized applications (DApps), Solana aims to make DeFi more accessible on a larger scale. Its hybrid consensus model allows for decreased validation times for both transaction and smart contract execution, making it attractive for institutional interest. Furthermore, Solana's protocol is designed to have low transaction costs while still ensuring scalability and fast processing, making it suitable for both small-time users and enterprise customers.

The idea and initial work on Solana began in 2017, but it was officially launched in March 2020 by the Solana Foundation, headquartered in Geneva, Switzerland. The key person behind Solana is Anatoly Yakovenko, whose professional career started at Qualcomm. In 2017, Yakovenko started working on a project which would later materialize as Solana. He teamed up with his Qualcomm colleague Greg Fitzgerald, and they founded a project called Solana Labs. Attracting several more former Qualcomm colleagues in the process, the Solana protocol and SOL token were released to the public in 2020. One of the essential innovations Solana brings to the table is the proof-of-history (PoH) consensus developed by Anatoly Yakovenko. This concept allows for greater scalability of the protocol, which in turn boosts usability.

How Solana and Malagasy Ariary differ

Solana (SOL) and Malagasy Ariary (MGA) are two distinct forms of currency, each with its unique characteristics. Solana is a digital asset that operates on blockchain technology, aiming to facilitate the creation of decentralized applications (DApps) and enhance the decentralized finance (DeFi) space. It uses a unique combination of proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms, which allows for decreased validation times and low transaction costs, making it attractive for a diverse range of users. On the other hand, the Malagasy Ariary is the traditional currency of Madagascar, regulated by a central authority, the Central Bank of Madagascar. Unlike Solana, it doesn't operate on blockchain technology and doesn't facilitate the creation of DApps. It's used for conventional transactions within Madagascar and doesn't have the scalability and fast processing features that Solana strives to offer. Therefore, while Solana seeks to make DeFi more accessible on a larger scale, the Malagasy Ariary serves as a standard means of exchange in its local economy.

Frequently asked questions

How much is 1 Solana in MGA?

Right now, 1 Solana is worth about MGA 653,284.07.

How much SOL could I buy for 1 MGA?

Based on the current rate, you could get 0.00000153 SOL for 1 MGA.

How much has the price of Solana changed?

Solana price has been on the rise. Since yesterday, the exchange rate of Solana has increased. Since last month, the exchange rate of Solana has increased. Since this time last year, the price of Solana has increased.

How do I calculate or convert SOL to MGA?

You can use our SOL to MGA calculator at the top of this page to convert any amount of SOL to MGA. We've also created a couple of quick reference tables for the most popular conversions. For example, 5 MGA is equivalent to 0.00000765 SOL. Inversely, 5 SOL will cost about MGA 3,266,420.35

How can I buy 1 Solana on Coinbase?

Solana is currently available to buy on Coinbase's centralized exchange. Check out our guide to get more detailed instructions on how to buy Solana.

What are assets similar to Solana that I can buy?

There are a number of crypto assets that have the a similar or comparable market cap to Solana, including Bitcoin, Ethereum, and Tether. For a more robust list of assets to explore, jump to the asset page dedicated to Solana.

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SOL to Malagasy Ariary conversion tables

The exchange rate of Solana is increasing.

The current value of 1 SOL is MGA 653,284 MGA. In other words, to buy 5 Solana, it would cost you MGA 3,266,420 MGA. Inversely, MGA 1 MGA would allow you to trade for 0.00000153 SOL while MGA 50 MGA would convert to 0.00007654 SOL, not including platform or gas fees.

In the last 7 days, the exchange rate has fallen by 9.6%. Meanwhile, in the last 24 hours, the rate has changed by 2.86%, and that the the highest exchange rate of 1 SOL to Malagasy Ariary was MGA 661,202.62 MGA and the lowest 24 hour value was 1 SOL for MGA 638,858.38 MGA. This time last month, the value of 1 SOL was MGA 594,952 MGA, which is a 9.37% decrease from where it is now. Looking back a year, Solana has changed by MGA 102,715 MGA.

SOL to MGA performance history

Price 24H ago
Change 24H
Price 1W ago
Change 1W
Price 1M ago
Change 1M
Price 1Y ago
Change 1Y
MGA 638,858.38 MGA
2.86%
MGA 718,530.53 MGA
-9.60%
MGA 594,951.93 MGA
9.37%
MGA 102,714.90 MGA
530.86%

SOL to MGA

Amount
Today at 2:55 pm
0.5 SOL
MGA 326,642.03
1 SOL
MGA 653,284.07
5 SOL
MGA 3,266,420.35
10 SOL
MGA 6,532,840.69
50 SOL
MGA 32,664,203.46
100 SOL
MGA 65,328,406.93
500 SOL
MGA 326,642,034.63
1,000 SOL
MGA 653,284,069.26

MGA to SOL

Amount
Today at 2:55 pm
0.5 MGA
0.00000077 SOL
1 MGA
0.00000153 SOL
5 MGA
0.00000765 SOL
10 MGA
0.000015 SOL
50 MGA
0.000077 SOL
100 MGA
0.000153 SOL
500 MGA
0.000765 SOL
1,000 MGA
0.0015 SOL

Today vs. 24 hours ago

Amount
Today at 2:55 pm
24 hours ago
24H Change
0.5 SOL
MGA 326,642.03
MGA 317,888.42
+2.75%
1 SOL
MGA 653,284.07
MGA 635,776.84
+2.75%
5 SOL
MGA 3,266,420.35
MGA 3,178,884.20
+2.75%
10 SOL
MGA 6,532,840.69
MGA 6,357,768.40
+2.75%
50 SOL
MGA 32,664,203.46
MGA 31,788,842.02
+2.75%
100 SOL
MGA 65,328,406.93
MGA 63,577,684.04
+2.75%
500 SOL
MGA 326,642,034.63
MGA 317,888,420.19
+2.75%
1,000 SOL
MGA 653,284,069.26
MGA 635,776,840.38
+2.75%

Today vs. 1 month ago

Amount
Today at 2:55 pm
1 months ago
1M Change
0.5 SOL
MGA 326,642.03
MGA 297,691.28
+9.73%
1 SOL
MGA 653,284.07
MGA 595,382.56
+9.73%
5 SOL
MGA 3,266,420.35
MGA 2,976,912.79
+9.73%
10 SOL
MGA 6,532,840.69
MGA 5,953,825.57
+9.73%
50 SOL
MGA 32,664,203.46
MGA 29,769,127.85
+9.73%
100 SOL
MGA 65,328,406.93
MGA 59,538,255.71
+9.73%
500 SOL
MGA 326,642,034.63
MGA 297,691,278.54
+9.73%
1,000 SOL
MGA 653,284,069.26
MGA 595,382,557.09
+9.73%

Today vs. 1 year ago

Amount
Today at 2:55 pm
1 year ago
1Y Change
0.5 SOL
MGA 326,642.03
MGA 51,746.63
+531.23%
1 SOL
MGA 653,284.07
MGA 103,493.25
+531.23%
5 SOL
MGA 3,266,420.35
MGA 517,466.27
+531.23%
10 SOL
MGA 6,532,840.69
MGA 1,034,932.54
+531.23%
50 SOL
MGA 32,664,203.46
MGA 5,174,662.70
+531.23%
100 SOL
MGA 65,328,406.93
MGA 10,349,325.40
+531.23%
500 SOL
MGA 326,642,034.63
MGA 51,746,627.02
+531.23%
1,000 SOL
MGA 653,284,069.26
MGA 103,493,254.05
+531.23%

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