Solana has been among the most in-demand cryptos in the last two years. Such is the demand that the SOL price reached an all-time high of $263.83 on November 23, 2024.

Since hitting an all-time high, SOL price, like several other cryptos, took a nosedive in an enduring bearish market, reaching a low of $175.91 in December. But the SOL price climbed above $210, with an aim for $300.

Considering SOL’s bullish nature, many wonder why SOL whales are paying attention to another token. Let’s explore the Solana ecosystem further and examine the latest update influencing SOL price action.

SOL Price To Boost Following Solana Security Upgrade Against Quantum Computers

Solana has included a new security mechanism in response to concerns that quantum computers may compromise user funds. The goal of the “Solana Winternitz Vault,” a quantum-resistant system that employs sophisticated encryption, is to protect digital assets from the dangers of quantum computing attacks.

The current cryptographic techniques safeguarding networks like SOL may be vulnerable to quantum computers. One example is the foundational elliptic curve cryptography (ECC) used in digital wallets.

The SOL Winternitz Vault hopes to fix this problem using a signature scheme that creates fresh keys for each transaction. This strategy will make it much more difficult for quantum computers to exploit the system and decipher the secret keys safeguarding SOL users’ cash.

SOL’s technique involves generating 32 private key scalars and hashing each one 256 times to generate a safe public key. The vault keeps only the hash of the public key for verification purposes rather than the whole key. To further mitigate risk, it generates fresh keys automatically after every SOL transaction.

To simplify, each time a transaction is conducted on SOL, the vault generates a new set of keys, ensuring that the keys exposed during that transaction cannot be utilized in future assaults.

The system stores a hash of the public key rather than the whole one, improving security and making verification easier. Despite its significance, not all SOL users must upgrade to the Winternitz Vault.

SOL users may only store their money in the vault for quantum security if they request the service. This extra safeguard for SOL wallets is expected to increase the wide adoption of the token and SOL price.

SOL ETF Might Become a Reality Soon

According to Matthew Sigel, head of research at VanEck, the likelihood of an SOL ETF being authorized in the US in 2025 is strong, surpassing current predictions. Sigel claims that Polymarket’s 77% predictions fall short of this potential.

Should the SOL ETF get approved, institutional and individual investors might have much easier access to the SOL coin. If Sigel’s prediction comes true, incorporating SOL into more conventional investment strategies will be a significant step forward.

Conclusion

With the SOL security upgrade and ETF potential approval, SOL’s price looks set for an all-time high of $300 target at minimum. Yet, Several Solana investors are ramping up Remittix presale, which is understandable considering the hot new crypto potential.

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