Solana ($SOL ) is the native currency of the Solana blockchain platform and is an important component of the Solana ecosystem. SOL is used for various purposes, including as a means of payment for transactions between users and as "gas" (fuel) for executing transactions and smart contracts.
Users can stake SOL to participate in the network validation process and earn rewards. In Decentralized Finance (DeFi) applications, $SOL can be used as collateral. Solana is designed to process transactions quickly and efficiently, and the ecosystem is open to developers, which means there is a growing number of applications available on the platform.
