What is $SOL (Solana)?

SOL (Solana) is a high-performance blockchain platform designed for fast, scalable, and low-cost transactions. It was founded by Anatoly Yakovenko in 2017 and launched its mainnet in 2020.

Key Features of Solana:

High-Speed Transactions – Can process 65,000+ transactions per second (TPS), making it much faster than Ethereum.

Low Transaction Fees – Offers significantly lower gas fees compared to other blockchains.

Proof-of-History (PoH) Mechanism – Solana’s unique consensus protocol improves efficiency and speeds up block processing.

Growing NFT & DeFi Ecosystem – Many NFT marketplaces and DeFi applications are built on Solana.

Developer-Friendly – Supports Rust and C programming languages, making it easier to build decentralized applications (DApps).

Uses of the SOL Token:

Paying for transaction fees

Staking to secure the network

Trading in NFT and DeFi platforms

Solana is considered a strong competitor to Ethereum, especially for users looking for fast and cost-effective blockchain solutions.