Solana is similar to Ethereum in that it is both a cryptocurrency (SOL) and a decentralised computing platform that can run applications. Solana stands out for its fast transaction processing speed. It provides highly scalable infrastructure for decentralised finance (DeFi) projects and uses a combined consensus mechanism based on Proof of Stake (PoS) in addition to Proof of History (PoH). Timestamps assigned to transactions ensure there are no unfair advantages in transaction ordering. SOL tokens are the native currency of Solana hard-capped at 489 million coins and can be used for staking.
The Solana blockchain platform is among the fastest in the world
Solana claims to be able to support 50,000 transactions per second
It’s high transaction speed means that the cost of transactions remains low
Solana is based on encryption, so it is resistant to censorship and manipulation
SOL is the native token of Solana
Anyone can buy, sell, send, receive and hold SOL
There will only ever be 489 million SOL tokens
Solana market stats
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