Solana (SOL)

About Solana

Solana is a high-performance Layer 1 blockchain designed for mass adoption by providing a fast, secure, and low-cost environment for decentralized applications. It scales globally without complex sharding or multiple layers, maintaining a single, unified ledger to avoid liquidity fragmentation. The network processes thousands of transactions per second with sub-second finality, often at a cost of less than a penny per transaction. It operates on a hybrid model combining Proof of Stake with Proof of History, a decentralized clock for timestamping transactions. This reduces node communication needs and allows the Sealevel engine to run non-conflicting smart contracts in parallel. The Gulf Stream protocol further reduces confirmation times by forwarding transactions to validators before the current block finishes. Founded in 2017 by Anatoly Yakovenko, Solana is supported by the Solana Foundation and institutional investors like Andreessen Horowitz and Polychain Capital. The native token SOL is used for transaction fees, governance, and staking. Solana has seen institutional adoption including spot Solana ETFs and partnerships like Visa's 2025 USDC settlement launch and tokenization of public equity by Galaxy Digital.

Consensus

proof-of-stake

Token standard

native

• Solana uses a unique hybrid consensus combining Proof of Stake and Proof of History, which acts as a decentralized clock.
• The Sealevel engine allows non-conflicting smart contracts to run in parallel across multiple CPU cores.
• Gulf Stream protocol forwards transactions to validators before the current block is finished, reducing confirmation times.
• Solana processes thousands of transactions per second with sub-second finality, often costing less than a penny per transaction.
• The network maintains a single, unified ledger to avoid liquidity fragmentation, unlike sharded or layered blockchains.

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