$SOL Solana (SOL) is a high-performance, open-source blockchain designed for scalability and speed, aiming to support decentralized applications (dApps). It utilizes a unique hybrid consensus mechanism combining Proof of History (PoH) and Proof of Stake (PoS) to achieve high transaction speeds and low fees, positioning itself as a competitor to Ethereum. SOL is the native cryptocurrency used for transaction fees, staking, and governance within the Solana ecosystem, which hosts various DeFi platforms, NFT marketplaces, and Web3 applications.