Solana ($SOL) is a high-performance blockchain platform designed to support decentralized applications (dApps) and crypto projects with fast, low-cost transactions. It was launched in 2020 by Anatoly Yakovenko and has quickly gained popularity for its scalability, using a unique hybrid consensus model that combines Proof of History (PoH) and Proof of Stake (PoS). This approach allows Solana to process thousands of transactions per second, significantly outperforming many other blockchain networks. The native cryptocurrency, SOL, is used for transaction fees, staking, and participating in network governance. Solana has attracted a growing ecosystem of developers and projects, ranging from DeFi platforms to NFT marketplaces, making it one of the most active blockchain communities. Despite experiencing network outages and criticism for centralization risks, Solana continues to evolve, with ongoing upgrades aimed at improving stability and decentralization. As the blockchain space matures, $SOL remains a prominent contender, drawing attention from both retail investors and institutional players.
