#BinanceTurns8 SOL is the official token of the Solana blockchain.
Blockchain name: Solana. Native token: SOL. Launched: 2020
Consensus mechanism: Proof of History (PoH) combined with Proof of Stake (PoS). Goal: To address issues of speed, transaction fees, and scalability compared to Ethereum.
Key features of Solana (SOL):
Transaction fees Very low (only a few thousandths of a cent)
Processing speed Over 65,000 transactions/second (TPS)
Notable DApps Jupiter, Magic Eden, Marinade, Raydium, Drift, etc.
DeFi & NFT Solana is a hub for the development of many NFT, DeFi, and gaming projects
Main competitors Ethereum, Avalanche, Cardano, BNB Chain