LATEST SOLANA NEWS…
SOLANA COIN BIO
Solana (SOL) is a high-performance blockchain designed for decentralized applications (dApps) and cryptocurrencies, known for its speed and scalability. The project was launched in 2020 by Anatoly Yakovenko, a former Qualcomm engineer, along with co-founders Greg Fitzgerald, Raj Gokal, and others. Yakovenko’s goal was to build a blockchain capable of processing thousands of transactions per second, addressing the scalability issues faced by earlier blockchains like Bitcoin and Ethereum.
Solana uses a unique consensus mechanism called Proof of History (PoH), which timestamps transactions to improve efficiency and throughput. This, combined with Proof of Stake (PoS), enables the network to process up to 65,000 transactions per second (as of 2023), making it one of the fastest blockchains.
The Solana blockchain quickly gained attention due to its high throughput, low fees, and ability to host a wide range of applications, from decentralized finance (DeFi) to non-fungible tokens (NFTs). Its native cryptocurrency, SOL, is used for network transactions, staking, and governance.
Despite its rapid rise, Solana faced technical challenges, including network outages and performance issues in 2021 and 2022. However, the development team has worked on improvements to enhance the network’s reliability and security.
- Solana
(SOL) - Price $126.38
- Market Cap
$64.25 B
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