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What is Solana (SOL)? | A simplified introductory guide
In the rapidly evolving world of digital currencies, some projects stand out strongly due to their innovations and performance speed, among which Solana emerges as one of the most prominent modern blockchain networks. But what is the SOL currency? And why is there so much talk about it? In this article, we will provide you with a comprehensive and simplified introductory guide.
What is Solana?
Solana is an open-source blockchain network developed to be fast, secure, and scalable. It was launched in 2020 and aims to support decentralized applications (DApps) and decentralized finance (DeFi) projects.
The native currency of the Solana network: SOL
SOL is the native digital currency of the Solana network. It is used to pay transaction fees on the network, participate in securing the network through what is known as 'staking', and is also used within applications built on Solana.
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Key features of Solana
1. Super speed:
Solana is capable of processing over 65,000 transactions per second, making it one of the fastest blockchain networks in the world.
2. Low fees:
Transaction fees on the Solana network are among the lowest, with each transaction costing a tiny fraction of a cent.
3. Proof of History mechanism:
An innovative technology used to accelerate transaction verification, making the network more efficient compared to its competitors.
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Uses of SOL currency
Pay transaction fees on the network.
Participate in securing the network through Staking.
Investment and speculation through trading platforms.
Its use within games and decentralized projects built on Solana.
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Is SOL currency safe?
Despite some technical outages that the Solana network has experienced in the past, the development team is continuously working to improve performance and enhance
