Solana is a high-performance blockchain platform designed to facilitate decentralized applications (dApps) and cryptocurrencies. Launched in 2020 by Anatoly Yakovenko, the project aims to address some of the issues faced by other blockchain networks, such as scalability, transaction throughput, and high fees.
Solana's unique consensus mechanism, called Proof of History (PoH), allows it to process thousands of transactions per second (tps) without compromising on security or decentralization. This high throughput is achieved through a combination of PoH and a modified version of Proof of Stake (PoS) called Tower BFT (Byzantine Fault Tolerance).
The native cryptocurrency of the Solana network is called SOL, which is used for transaction fees and to participate in the network's staking process. Developers can also build dApps and launch tokens on the Solana platform, taking advantage of its fast and efficient infrastructure.
Overall, Solana aims to become a leading platform for decentralized finance (DeFi), gaming, and other applications that require high transaction throughput and low latency.
