$Solana is a high-performance Layer-1 blockchain designed to support fast and low-cost decentralized applications.
It is well known for its high transaction throughput and very low transaction fees compared to many traditional blockchains.
Solana uses a unique mechanism called Proof of History (PoH) along with Proof of Stake (PoS) to improve network speed and efficiency.
This design allows the network to process thousands of transactions per second while maintaining decentralization.
Solana is widely used for:
decentralized finance (DeFi)
NFT marketplaces
blockchain games
Web3 applications