#CryptoCPIWatch Solana (SOL) is a high-performance Layer 1 blockchain focused on scalability and speed, aiming to support decentralized applications (dApps) with low transaction costs. Its architecture combines a unique Proof-of-History (PoH) consensus mechanism with Proof-of-Stake (PoS), enabling parallel transaction processing and significantly higher throughput compared to many other blockchains, theoretically reaching over 65,000 transactions per second.

Solana's ecosystem has grown rapidly, hosting various DeFi platforms, NFT marketplaces, and Web3 projects. Its native cryptocurrency, SOL, is used for transaction fees, staking, and governance. While known for its speed and low costs, Solana has faced occasional network outages, which remain a point of concern. Nevertheless, its innovative technology and growing adoption position it as a strong contender in the blockchain space.