(SOL) is a high-performance layer-1 blockchain renowned for its speed and low transaction costs, aiming to scale decentralized applications. Its unique Proof of History (PoH) consensus mechanism works in tandem with Proof of Stake (PoS) to achieve high throughput, processing thousands of transactions per second with near-instant finality around 400 milliseconds.

The SOL token is the native cryptocurrency, essential for paying transaction fees within the network. It also plays a crucial role in securing the network through staking, where SOL holders can delegate their tokens to validators and earn rewards. While Solana doesn't have a fully implemented token-based governance model yet, SOL is expected to be used for voting on future network upgrades. With its focus on scalability and a growing ecosystem of DeFi, NFT, and other applications, Solana aims to be a leading platform for Web3 development.