Solana (SOL) is a cryptocurrency that powers the Solana blockchain, a high-performance blockchain network designed for decentralized applications (dApps) and crypto projects. The project was founded by Anatoly Yakovenko in 2017. The mainnet launch occurred in March 2020.
Solana aims to address scalability issues faced by other blockchain networks by utilizing a unique combination of technologies, including a novel consensus mechanism called Proof of History (PoH) and a high-performance architecture called Tower BFT (Byzantine Fault Tolerance).
The Solana ecosystem has grown rapidly, attracting developers and projects due to its high throughput, low transaction costs, and developer-friendly environment. SOL, the native cryptocurrency of the Solana network, is used for various purposes within the ecosystem, including staking, governance, and transaction fees.
Since its launch, Solana has gained significant attention and adoption within the crypto community, with its native cryptocurrency SOL seeing substantial price appreciation. Solana continues to evolve and expand its ecosystem, positioning itself as a leading blockchain platform for decentralized applications and crypto innovation.
