#ETFWatch Solana (SOL) is the native cryptocurrency of the Solana blockchain, a high-performance blockchain known for its fast transactions and low fees. Solana is designed to support decentralized applications (dApps) and is often considered a competitor to Ethereum due to its scalability.

Key Features of Solana (SOL)

High Speed: Can process up to 65,000 transactions per second (TPS).

Low Fees: Transaction costs are typically a fraction of a cent.

Proof-of-History (PoH): A unique consensus mechanism that helps with fast processing.

Growing Ecosystem: Supports DeFi, NFTs, gaming, and Web3 applications.

SOL Use Cases

Transaction fees on the Solana network.

Staking for network security and earning rewards.

Payments in various dApps, NFT platforms, and DeFi projects.