Solana is an open-source blockchain platform focused on scalability, speed, and security while maintaining low transaction costs.
The architecture of the blockchain facilitates the creation of smart contracts and decentralized applications. The network's throughput can reach 710,000 transactions per second (TPS), according to the project's white paper.
Due to its accessibility, Solana is popular among users in the DeFi sector. In December 2023, analysts estimated that the number of active addresses on the network exceeded 15.6 million.
The total value locked (TVL) in the project's smart contracts exceeded $1.3 billion as of January 4, 2024, according to DeFiLlama. Thus, at the time of writing, Solana ranks among the top 5 blockchains by this metric.
