Here are some key facts about Solana $SOL coin:
- *Token Symbol*: SOL
- *Token Type*: Utility Token
- *Blockchain*: Solana
- *Market Cap*: $100.45 billion ¹
- *Circulating Supply*: 482.92 million SOL ²
- *Total Supply*: 591.48 million SOL ²
Solana is a third-generation blockchain that uses a unique hybrid consensus mechanism to solve the classical blockchain trilemma of decentralization, scalability, and security ¹. It was founded by Anatoly Yakovenko, a former employee of Qualcomm and Dropbox ¹.
Some of the use cases of Solana include:
- *Decentralized Finance (DeFi)*: Solana provides a platform for DeFi applications, enabling fast and low-cost transactions.
- *Non-Fungible Tokens (NFTs)*: Solana supports the creation and trading of NFTs, providing a unique digital ownership experience.
- *Gaming*: Solana's fast and scalable blockchain makes it an attractive platform for gaming applications.
Solana's native cryptocurrency, SOL, is used to pay for transaction fees and staking to support the network ².