$SOL Solana (SOL) is a high-performance blockchain platform designed for decentralized applications (dApps) and decentralized finance (DeFi). Launched in 2020 by Solana Labs, it utilizes a unique combination of Proof of Stake (PoS) and Proof of History (PoH) consensus mechanisms to achieve high throughput and low latency. Solana can process thousands of transactions per second with minimal fees, making it a scalable alternative to Ethereum. The native cryptocurrency, SOL, is used for transaction fees, staking, and governance. As of May 2025, SOL is among the top cryptocurrencies by market capitalization, with a price of approximately $144.61 USD.