$SOL

Solana is a crypto computing platform that aims to achieve high transaction speeds without sacrificing decentralization. It employs a bundle of novel approaches, including the “proof of history” mechanism.  Solana’s native cryptocurrency is SOL, which is used to pay transaction fees and for staking. It also gives holders the right to vote in future upgrades. In August 2021, prices for SOL — the cryptocurrency that helps power the smart-contract-compatible Ethereum competitor Solana — suddenly spiked from around $30 at the beginning of the month to around $75 three weeks in, drawing mainstream attention to the altcoin. SOL got a boost from one of the biggest crypto trends of the summer: the launch of a primate-themed NFT collectible project. Specifically, the Degenerate Ape Academy NFTs, the first major NFT project to launch on the Solana blockchain. But what exactly is Solana? Like Ethereum, Solana is both a cryptocurrency and a flexible platform for running crypto apps — everything from Degenerate Apes to the Serum decentralized exchange (or DEX). Its major innovation is speed, via a bundle of new technologies including a consensus mechanism called proof of history. Solana can process around 50,000 transactions per second .