What is Solana (SOL)?
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Overview
Solana is a high-performance blockchain launched by Anatoly Yakovenko in 2020. It can process thousands of transactions per second with extremely low fees. Its speed and low cost have made it a strong competitor to Ethereum in DeFi, NFT, and gaming.
How It Works
Solana uses a unique consensus mechanism combining Proof of History (PoH) with Proof of Stake. PoH cryptographically proves the passage of time, allowing transaction ordering without node synchronization.
Key Features
Thousands of TPS throughput
Ultra-low fees (~$0.00025)
400ms block time
Proof of History + PoS
Active meme coin/NFT ecosystem
Specifications
Founded2020
ConsensusProof of History + PoS
Max SupplyUnlimited (inflationary)
Websitesolana.com
Use Cases
High-speed DeFi tradingNFT marketplacesmeme coin ecosystemmobile wallet (Saga)payments