'Solana SOL (Cryptocurrency)' Solana SOL is a decentralized, open-source blockchain platform designed for high-performance and scalable application development. The native cryptocurrency of the Solana network, SOL, serves as a crucial part of the ecosystem by facilitating transactions, securing the network through a unique proof-of-stake consensus mechanism called 'Tower BFT', and enabling smart contract execution. Launched in 2019, Solana aims to solve some of the most significant challenges faced by blockchain networks, such as scalability, security, and developer experience, by offering fast transaction times, low fees, and a user-friendly development environment for deploying decentralized applications (dApps). Users can acquire SOL tokens through cryptocurrency exchanges, participate in staking programs to earn rewards, or use them to pay for transaction fees on the Solana network.
