$SOL Solana (SOL) is a high-performance, energy-efficient blockchain known for its speed and low transaction costs, utilizing a proof-of-stake consensus combined with its unique proof-of-history mechanism. This allows for high throughput, attracting DeFi, NFT, and gaming projects to its ecosystem. The SOL token is used for transaction fees, staking, and governance. While it has faced some network challenges in the past, Solana continues to be a significant player in the blockchain space, offering scalability and a growing ecosystem of decentralized applications.