Buy Solana

Solana SOL
$161.64 USD
Asset type
Active since
What is Solana?

Solana is a highly efficient and scalable blockchain platform designed to support decentralized applications (DApps) and crypto-currencies. It was founded by Anatoly Yakovenko in 2017, with the aim to improve blockchain scalability through its unique consensus mechanism. Solana claims to offer faster transaction speeds and lower transaction costs compared to other blockchains, making it an attractive platform for developers and users alike.

Proof of History (PoH)

One of Solana's core innovations is the Proof of History (PoH) consensus mechanism. Unlike traditional proof-of-work (PoW) or proof-of-stake (PoS) mechanisms, PoH creates a historical record that proves that an event has occurred at a specific point in time. This allows for greater efficiency and scalability by reducing the need for the nodes of the network to communicate synchronously.

High Throughput and Low Latency

Solana's architecture is designed to support high throughput and low-latency transactions. It can process tens of thousands of transactions per second (TPS), with block times as low as 400 milliseconds. This makes Solana one of the fastest blockchains in the industry.

Low Transaction Costs

Transaction fees on the Solana network are extremely low, often costing a fraction of a cent. This is a significant advantage for both developers and users, making high-volume, microtransaction applications feasible.

© 2020-2024 Finrex All rights reservedFinrex’s digital currency exchange services are operated in the Canada by FINREX MARKETS LTD (company number BC1395444), licensed by the FINTRAC as a MSB in the Canada.