Convert and Swap Solana SOL to Malagasy Ariary MGA
SOL/MGA: 1 Solana equals MGA 1,055,524.41 MGA
Last update: 4:41 PM, December 9, 2024
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Solana is falling this week.
The current price of Solana is MGA 1,055,524.41 per SOL. With a circulating supply of 476,114,484.291 SOL, it means that Solana has a total market cap of MGA 502,874,361,905,613.70. The amount of Solana traded has risen by MGA 6,650,286,883,399 in the last 24 hours, which is a 29.33% increase. Additionally, in the last day, MGA 22,676,145,803,570 worth of SOL has been traded.
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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.
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SOL to Malagasy Ariary conversion tables
The exchange rate of Solana is decreasing.
The current value of 1 SOL is MGA 1,055,524 MGA. In other words, to buy 5 Solana, it would cost you MGA 5,277,622 MGA. Inversely, MGA 1 MGA would allow you to trade for 0.00000095 SOL while MGA 50 MGA would convert to 0.00004737 SOL, not including platform or gas fees.
In the last 7 days, the exchange rate has fallen by 0.34%. Meanwhile, in the last 24 hours, the rate has changed by 4.67%, and that the the highest exchange rate of 1 SOL to Malagasy Ariary was MGA 1,115,875.62 MGA and the lowest 24 hour value was 1 SOL for MGA 1,046,038.22 MGA. This time last month, the value of 1 SOL was MGA 918,098 MGA, which is a 13.14% decrease from where it is now. Looking back a year, Solana has changed by MGA 329,997 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 1,109,903.57 MGA | -4.67% | MGA 1,065,401.82 MGA | -0.34% | MGA 918,098.41 MGA | 13.14% | MGA 329,996.88 MGA | 228.22% |
SOL to MGA
Amount | Today at 4:41 pm |
|---|---|
0.5 SOL | MGA 527,762.20 |
1 SOL | MGA 1,055,524.41 |
5 SOL | MGA 5,277,622.03 |
10 SOL | MGA 10,555,244.06 |
50 SOL | MGA 52,776,220.32 |
100 SOL | MGA 105,552,440.63 |
500 SOL | MGA 527,762,203.17 |
1,000 SOL | MGA 1,055,524,406.35 |
MGA to SOL
Amount | Today at 4:41 pm |
|---|---|
0.5 MGA | 0.00000047 SOL |
1 MGA | 0.00000095 SOL |
5 MGA | 0.00000474 SOL |
10 MGA | 0.00000947 SOL |
50 MGA | 0.000047 SOL |
100 MGA | 0.000095 SOL |
500 MGA | 0.000474 SOL |
1,000 MGA | 0.000947 SOL |
Today vs. 24 hours ago
Amount | Today at 4:41 pm | 24 hours ago | 24H Change |
|---|---|---|---|
0.5 SOL | MGA 527,762.20 | MGA 554,991.71 | -4.91% |
1 SOL | MGA 1,055,524.41 | MGA 1,109,983.41 | -4.91% |
5 SOL | MGA 5,277,622.03 | MGA 5,549,917.07 | -4.91% |
10 SOL | MGA 10,555,244.06 | MGA 11,099,834.15 | -4.91% |
50 SOL | MGA 52,776,220.32 | MGA 55,499,170.74 | -4.91% |
100 SOL | MGA 105,552,440.63 | MGA 110,998,341.47 | -4.91% |
500 SOL | MGA 527,762,203.17 | MGA 554,991,707.36 | -4.91% |
1,000 SOL | MGA 1,055,524,406.35 | MGA 1,109,983,414.71 | -4.91% |
Today vs. 1 month ago
Amount | Today at 4:41 pm | 1 months ago | 1M Change |
|---|---|---|---|
0.5 SOL | MGA 527,762.20 | MGA 464,613.68 | +13.59% |
1 SOL | MGA 1,055,524.41 | MGA 929,227.35 | +13.59% |
5 SOL | MGA 5,277,622.03 | MGA 4,646,136.76 | +13.59% |
10 SOL | MGA 10,555,244.06 | MGA 9,292,273.52 | +13.59% |
50 SOL | MGA 52,776,220.32 | MGA 46,461,367.60 | +13.59% |
100 SOL | MGA 105,552,440.63 | MGA 92,922,735.21 | +13.59% |
500 SOL | MGA 527,762,203.17 | MGA 464,613,676.03 | +13.59% |
1,000 SOL | MGA 1,055,524,406.35 | MGA 929,227,352.06 | +13.59% |
Today vs. 1 year ago
Amount | Today at 4:41 pm | 1 year ago | 1Y Change |
|---|---|---|---|
0.5 SOL | MGA 527,762.20 | MGA 169,498.39 | +211.37% |
1 SOL | MGA 1,055,524.41 | MGA 338,996.77 | +211.37% |
5 SOL | MGA 5,277,622.03 | MGA 1,694,983.87 | +211.37% |
10 SOL | MGA 10,555,244.06 | MGA 3,389,967.73 | +211.37% |
50 SOL | MGA 52,776,220.32 | MGA 16,949,838.65 | +211.37% |
100 SOL | MGA 105,552,440.63 | MGA 33,899,677.30 | +211.37% |
500 SOL | MGA 527,762,203.17 | MGA 169,498,386.51 | +211.37% |
1,000 SOL | MGA 1,055,524,406.35 | MGA 338,996,773.01 | +211.37% |
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