#BinanceLeadsQ1 $XRP This is a simplified and useful article about 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 costs 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 makes Solana unique?

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

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

Hybrid consensus mechanism: It uses a mix 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, but it is also used for:

Paying network fees

Interacting with decentralized applications