$SOL is the native cryptocurrency of the **Solana** blockchain, designed for:

- **Transaction Fees**: Paying for transactions and smart contract executions.

- **Staking**: Securing the network through Proof-of-Stake (PoS) and earning rewards.

- **Governance**: Participating in decentralized decision-making (future upgrades may expand this).

### **Key Features of Solana ($SOL)**

✅ **High Speed**: Processes thousands of transactions per second (TPS).

✅ **Low Fees**: Average transaction cost is a fraction of a cent.

✅ **Scalability**: Uses a unique **Proof-of-History (PoH)** + PoS consensus.

✅ **Ecosystem Growth**: Strong in DeFi, NFTs, and Web3 applications.

### **Current Status (2024)**

- **Market Cap**: Among the top 5-10 cryptocurrencies.

- **Performance**: Known for volatility but remains a leading Layer 1 blockchain.

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