$SOL What is Solana?

Solana is a high-speed, low transaction fee blockchain platform used for creating dApps (decentralized applications), NFTs, DeFi, and other Web3 projects.

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3. Advantages:

Very fast: Solana is capable of processing over 65,000 transactions per second (theoretically).

Cheap: The transaction fee is less than $0.0001.

Proof of History (PoH): A unique technology of Solana that facilitates synchronizing time within the blockchain and increases speed.

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4. The role of the SOL token:

Used as payment (gas fee) for transactions within the network.

Can be staked—meaning locking up SOL tokens to receive rewards.

Also used as a utility service token within some dApps.

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5. Disadvantages:

Occasional network outages have been observed.

Some consider it to be very centralized—since the number of validators is not particularly high.