$SOL $SOL $BTC This is a simplified and useful article about the Solana (SOL) cryptocurrency:

What is Solana (SOL) cryptocurrency?

Solana is a digital currency and an open-source blockchain project designed to support decentralized applications (DApps) and smart contracts. It is known for its high speed and low cost compared to networks like Ethereum.

Where did Solana come from?

The Solana project was launched in 2020 by engineer Anatoly Yakovenko, who previously worked at Qualcomm. His goal was to find a solution to the slow speeds and high costs of other blockchains.

What distinguishes Solana?

Transaction speed: The network can process over 65,000 transactions per second (TPS).

Very low costs: Transaction fees are usually less than $0.01.

Hybrid consensus mechanism: It uses a combination of Proof of History (PoH) and Proof of Stake (PoS) to make the network more efficient.

Uses of SOL cryptocurrency

SOL is not just a means of payment; it is also used for:

Paying network fees

Interacting with decentralized applications