$SOL SOL is the native cryptocurrency of the Solana blockchain, a high-performance, open-source platform designed for decentralized applications (dApps) and crypto projects. Launched in 2020, Solana is known for its fast transaction speeds and low fees, made possible by its unique Proof of History (PoH) and Proof of Stake (PoS) hybrid consensus mechanism. SOL is used to pay transaction fees, secure the network through staking, and interact with smart contracts. Its scalability allows thousands of transactions per second, making it ideal for DeFi, NFTs, and Web3 platforms. Solana has gained popularity as a competitor to Ethereum due to its speed and cost-efficiency.