SOL Token is the native cryptocurrency of the Solana blockchain, a high-performance network designed for decentralized applications (dApps) and smart contracts. Solana is known for its speed and low transaction costs, processing thousands of transactions per second using its unique Proof-of-History (PoH) and Proof-of-Stake (PoS) hybrid consensus mechanism.
SOL is used for transaction fees, staking, and governance within the Solana ecosystem. It powers DeFi projects, NFT marketplaces, and Web3 applications. Due to its scalability and efficiency, SOL has gained popularity among developers and investors, making it one of the top cryptocurrencies in the market. However, like all cryptocurrencies, it remains volatile. #SOL