Sol (SOL) is the native cryptocurrency of the Solana blockchain, known for its high-speed and low-cost transactions. Solana aims to provide scalable decentralized applications (dApps) and crypto projects with a fast and efficient blockchain infrastructure.
The key features of Solana include:
High Transaction Speed: Solana can handle thousands of transactions per second (TPS) thanks to its unique Proof-of-History (PoH) consensus mechanism.
Low Transaction Fees: Transactions on Solana are typically much cheaper compared to other major blockchains like Ethereum.
Developer Ecosystem: Solana has gained popularity in decentralized finance (DeFi), NFTs, and other blockchain-based applications due to its fast processing and low fees.