$SOL Solana (SOL) is a high-performance blockchain platform designed for decentralized applications (dApps) and cryptocurrencies. Launched in 2020 by Anatoly Yakovenko, Solana aims to address scalability issues faced by other blockchains like Ethereum. It uses a unique consensus mechanism called Proof of History (PoH), combined with Proof of Stake (PoS), enabling faster transaction processing and lower fees. Solana can handle thousands of transactions per second (TPS), making it one of the fastest blockchains in the market. This high throughput attracts developers building DeFi applications, NFTs, and Web3 solutions. Despite its rapid growth and popularity, Solana has faced occasional network outages, raising concerns about decentralization. However, it remains a prominent player in the cryptocurrency space, offering scalability, speed, and low-cost transactions.
