Solana is a smart contract platform, uses a hybrid proof-of-stake and proof-of-history model to enable high-speed and eco-friendly transactions, for DeFi and dApps. More
| Fully Diluted Valuation | $137.84B |
|---|---|
| 24H Trading Volume | $8.10B |
| 24H Low / High | $217.81 / $ 227.18 |
| Circulating Supply | 543.58M |
| Total Supply | 611.02M |
| Max Supply | ∞ |
| Categories | Alameda Research Portfolio 14 more |
|---|---|
| Founder | Anatoly Yakovenko 1 more |
| Website | solana.com |
| Socials | 1 more |
| Explorer | Solana 6 more |
| Name | Pair | OG Score |
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Solana $SOL is a high-performance blockchain platform founded in 2017 by Anatoly Yakovenko and formally launched in March 2020. The project was designed to provide scalability without compromising on decentralization and security. Over the years, the platform achieved significant milestones, such as the introduction of its Mainnet Beta, establishing partnerships with global brands like Google and Circle, and launching marquee events such as the Solana Breakpoint, which brings together developers and policymakers.
In recent years, Solana $SOL accelerated its ecosystem growth with innovations like the Solana Mobile Stack and the Seeker, a smartphone tailored for blockchain utilities.
A distinctive feature of Solana $SOL lies in its Proof of History (PoH) consensus mechanism. PoH allows for the sequential recording of transactions and greatly enhances throughput by reducing the time required for consensus. Paired with Proof of Stake (PoS), the system ensures scalability and energy efficiency.
Solana’s infrastructure supports unparalleled transaction speeds, processing up to 3,774 transactions per second (TPS) while maintaining a median transaction fee of $0.00064. The platform ensures decentralization through over 1,000 independently operating validator nodes and boasts carbon neutrality through its energy-efficient design.
Another innovation, Solana Attestation Service, facilitates privacy-focused, off-chain data validations, further enhancing the blockchain’s usability in versatile real-world applications.
The Solana $SOL protocol has been adopted across sectors including payments, decentralized finance (DeFi), gaming, and non-fungible tokens (NFTs). Solana Pay, for instance, is integrated with Shopify, enabling businesses to process transactions with USDC at fractional costs. The protocol also supports unique projects like:
XP: Utilizing Solana to minimize event ticket fees.
Boba Guys: Implementing blockchain-powered loyalty programs with measurable revenue increases.
Homebase: Tokenizing real estate assets.
Hivemapper: Decentralizing mapping systems with actionable, real-time data.
Its extensive utility and low-fee model have attracted developers and enterprises worldwide.
The Solana $SOL token serves multiple roles within the ecosystem. It is used for transaction fees, staking, and voting on proposals in the network’s on-chain governance framework. With an extensive validator and delegation ecosystem, $SOL incentivizes participation while offering network security.
Demand drivers include its application in DeFi protocols, NFT marketplaces, and institutional adoption via projects like the Franklin Onchain U.S. Government Money Fund (FOBXX).
The Solana $SOL community is vast and vibrant. Initiatives like Hacker Houses and theme-based hackathons have drawn over 20,000 participants, driving innovation within the ecosystem. Solana has maintained strategic partnerships with industry giants—including Google and Stripe—expanding its global reach. Reports from Electric Capital have highlighted Solana as the fastest-growing blockchain for new developers.
Launch of the Seeker Smartphone: Tailored for blockchain users, it integrates secure seed storage and Solana dApp Store access.
Expansion into Institutional Finance: Collaborations with Franklin Templeton for tokenizing mutual funds underscore Solana’s enterprise-grade blockchain capabilities.
Core Upgrades: The planned introduction of the p-token promises enhanced computational efficiencies.
Solana $SOL continues to set benchmarks in the blockchain sector, offering scalability, security, and innovation. With its robust technical base, real-world utility, and thriving developer community, it positions itself as a pivotal technology in the evolution of decentralized systems. Its strategic integrations and environmental considerations enhance its appeal to both individual users and institutions, ensuring its place within the blockchain ecosystem's future
Solana $SOL leverages its innovative Proof of History (PoH) mechanism, which timestamps transactions to establish order before consensus is achieved. Combined with Proof of Stake (PoS), this architecture enables processing up to 3,774 transactions per second (TPS) at very low fees.
The Solana Attestation Service simplifies off-chain validation while preserving privacy by enabling applications to verify user data like identity or documents without compromising sensitive information.
Solana provides tools like the Solana Mobile Stack, accommodating Web3 app creation, and incentivizes innovation through initiatives such as Hacker Houses and global hackathons. These efforts have attracted thousands of developers, making it one of the fastest-growing blockchain ecosystems.
The Solana Mobile Stack is a suite of decentralized application tools tailored for mobile use. Unique features such as secure seed storage and integration with the Solana dApp Store enhance usability for blockchain-based solutions on mobile devices.
Solana $SOL is one of the most energy-efficient blockchains available, using a minimal amount of electricity and maintaining a carbon-neutral footprint. This attribute is achieved through its high performance and efficient consensus mechanism design.
Solana Pay allows businesses to process transactions instantly using tokens like USDC with negligible fees. It integrates seamlessly with platforms like Shopify, offering merchants a robust blockchain payment solution.
Thanks to its low costs and high speed, Solana $SOL has become a hub for NFT marketplaces and blockchain-based games, ensuring smooth transactions, quick asset transfers, and real-time gameplay for users globally.
Projects like Franklin Templeton’s tokenized mutual funds, Hivemapper’s decentralized mapping, and Shopify’s integration of Solana Pay showcase the widespread adoption of Solana $SOL by institutions and platforms alike.
With around 1,000 active validators, Solana maintains decentralization, security, and network scalability. The biggest challenge is that setting up and maintaining a validator node is costly, ranging from $500 to $700 per month. Additionally, staking $SOL tokens with these validators strengthens the blockchain's performance while providing incentives for active participation.
Key milestones include the launch of the Solana Mainnet Beta, the introduction of the Solana Mobile Stack, strategic partnerships with Google and Circle, as well as Solana Breakpoint events that drive ecosystem collaboration and awareness
Solana (SOL) stands out for its hybrid consensus model, combining proof-of-stake (PoS) and proof-of-history (PoH) consensus, facilitating high transaction speed while prioritizing low fees and eco-friendliness.
Solana was launched in 2020 by Solana Labs, which was founded by Anatoly Yakovenko and Raj Gokal in 2018.
Andreessen Horowitz (a16z), Polychain Capital, Multicoin Capital, Delphi DigitalDelphi Digital, NGC Ventures, The Spartan Group, CMS Holdings, CoinFund, Kenetic Capital, Distributed Global, Slow Ventures, Sino Global Capital, RockawayX, Jump Trading, Blockchange Ventures, Blocktower Capital, Foundation Capital, CoinShares, Passport Capital, Alameda Research.
Solana (SOL) employs a hybrid consensus mechanism involving proof-of-stake (PoS) and proof-of-history (PoH) to achieve high throughput and scalability.
You can buy Solana (SOL) on Binance, Gate.ioMEXCBitgetBybit cryptocurrency exchanges.
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