$SOL What is Solana (SOL)?
Solana is a highly functional open-source project that leverages the permissionless nature of blockchain technology to provide decentralized financial (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation based in Geneva, Switzerland.
The Solana protocol is designed to facilitate the creation of decentralized applications (DApp). Its goal is to improve scalability by introducing a proof of history (PoH) consensus combined with the underlying proof of stake (PoS) consensus of the blockchain.
Due to the innovative hybrid consensus model, Solana enjoys interest from both small traders and institutional traders. An important focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
