What is Solana (Sol)?

Solana is a fast-growing blockchain with striking similarities to Ethereum—often referred to as an “Ethereum killer.” Like Ethereum, the SOL token can be purchased on most major exchanges. The token’s real value is in conducting transactions on the Solana network, which has unique advantages.

What is the Solana token and how does it work?

Like Ethereum, the SOL token can be purchased on most major exchanges. The token’s real value is in conducting transactions on the Solana network, which has unique advantages. The Solana blockchain uses a proof-of-history consensus mechanism. This algorithm uses timestamps to define the next block in Solana’s chain.

What is Solana cryptocurrency?

Solana is a cryptocurrency that was designed to work similarly to and improve upon Ethereum. Named after a small Southern Californian coastal city, Solana is the brainchild of software developer Anatoly Yakovenko. Yakovenko first proposed the innovative blockchain in 2017, and Solana launched in March 2020.

What is Solana blockchain?

Solana is a proof-of-stake (PoS) blockchain but improves on it with a mechanism called proof-of-history (PoH), which uses hashed timestamps to verify when transactions occur. 4 Solana co-founder Anatoly Yakovenko published a white paper in November 2017 describing the proof-of-history (PoH) concept.