SOL is the native cryptocurrency of the Solana blockchain platform, launched in 2020 by Solana Labs. Solana is designed for high-speed, low-cost decentralized applications (dApps), smart contracts, and decentralized finance (DeFi) solutions.
SOL tokens are used to pay transaction fees, participate in staking (supporting the network's security), and interact with various applications within the Solana ecosystem. The platform's innovative combination of Proof of Stake (PoS) and Proof of History (PoH) consensus mechanisms enables it to process thousands of transactions per second, making it a scalable alternative to platforms like Ethereum.
As of April 2025, SOL ranks among the top cryptocurrencies by market capitalization and has been included in the U.S. government's proposed strategic crypto reserve alongside Bitcoin and Ethereum.
