The SOL coin (commonly referred to as Solana or SOL) is the native cryptocurrency of the Solana blockchain, a high-performance, layer-1 blockchain platform designed for decentralized applications (dApps) and scalable smart contract execution. Launched in March 2020 by Solana Labs, founded by Anatoly Yakovenko, Solana aims to provide fast, low-cost transactions while maintaining decentralization and security. Below is a concise overview of SOL:
Key Features of SOL$SOL
Utility:
Transaction Fees: SOL is used to pay for transaction fees and computational services on the Solana network, which are typically very low (often less than $0.0025 per transaction).
Staking: SOL holders can stake their tokens to secure the network and earn rewards through Solana’s Proof-of-Stake (PoS) consensus mechanism.
Governance: In the future, SOL may enable holders to vote on network upgrades.#SolanaStrong
Smart Contracts and dApps: SOL powers interactions with smart contracts and dApps, including DeFi platforms, NFT marketplaces, and gaming applications.
Consensus Mechanism: Solana uses a unique hybrid model combining Proof-of-History (PoH) and Proof-of-Stake (PoS). PoH timestamps transactions to reduce validator communication, enabling high throughput, while PoS ensures network security through staking.
Scalability: Solana can process over 65,000 transactions per second (TPS) with 400ms block times, making it one of the fastest blockchains. It achieves this through technologies like Gulf Stream, Sealevel, and Turbine.#solana
Market Data (as of May 13, 2025)
Price: ~$171.72–$203.86 USD, up 0.04%–0.8% in 24 hours, and ~20% over the past 7 days.
Market Cap: ~$89.2B–$99.46B, ranking #6–#8 among cryptocurrencies.
Circulating Supply: ~519.44M SOL, with a total supply of ~600.65M and no...#sol