$SOL

The **SOL** currency is the native currency of the **Solana** network, which is an open-source blockchain platform designed to provide scalable and fast solutions for transactions and decentralized operations.

### **Basic Information about SOL:**

- **Symbol:** SOL

- **Type of Currency:** Cryptocurrency (Utility Token)

- **Blockchain:** Solana

- **Main Uses:**

- Paying transaction fees on the network.

- Participating in transaction validation (Proof of Stake).

- Interacting with decentralized applications (DApps) and decentralized finance (DeFi).

- Voting on network updates.

### **Features of Solana:**

✔ **High Speed:** Supports **over 50,000 transactions per second (TPS)**.

✔ **Low Fees:** Transaction costs are less than **$0.01**.

✔ **Hybrid Consensus Mechanism:** Uses **Proof of History (PoH) + Proof of Stake (PoS)** for efficiency.

✔ **Strong Support:** Hosts many projects in the fields of **DeFi, NFTs, and Web 3.0**.

### **Circulating Supply and Market Value:**

- **Max Supply:** Unspecified (Inflationary).

- **Current Circulating Supply:** ~468 million SOL (according to 2024 data).

- **Market Value:** Ranges between **Top 5-10 currencies** in the crypto market.

### **Importance of SOL in the Market:**

**Solana** is a strong competitor to **Ethereum (ETH)** due to its speed and low costs, making it attractive for developers and investors.

> **Note:** The price of SOL is variable and may be affected by factors such as market volatility, network developments,