Solana (SOL) is a high-performance blockchain platform designed for decentralized applications (dApps) and crypto transactions. Known for its blazing-fast speeds and low fees, Solana uses a unique consensus mechanism called Proof of History (PoH) combined with Proof of Stake (PoS) to achieve scalability without sacrificing security.
Launched in 2020 by Anatoly Yakovenko, Solana can process over 65,000 transactions per second (TPS), making it one of the fastest blockchains. Its native token, SOL, is used for transaction fees, staking, and governance.
Solana supports smart contracts, NFTs, DeFi protocols, and Web3 projects, competing with Ethereum but with significantly lower gas fees. Despite facing network outages in the past, Solana remains a top choice for developers and investors due to its speed and growing ecosystem.
With strong institutional backing and continuous upgrades, SOL has cemented its place among the top cryptocurrencies by market cap, attracting both retail and institutional interest. đ
