DeFi 10118 August 2021

Solana (SOL) – What is it exactly?

Solana is an Ultra-Fast Blockchain

Summary

  • Solana is hosted on the SOL blockchain
  • SOL can handle up to 50,000 transactions per second
  • Solana offers faster transaction times in a flexible infrastructure

Solana or SOL is a decentralized digital computing platform used to pay for transactions under the Solana blockchain. The Solana platform aims to improve blockchains' scalability by utilizing proof of history and proof of stake in dApps. For this reason, SOL is said to be able to handle 50,000 transactions/sec without affecting decentralization.

Solana makes part of competing blockchain projects interested in creating an ecosystem of crypto products and services. Other options include Zilliqa, Cardano, and Ethereum.

Solana has created a blend of architectural designs that promise faster transaction times through an infrastructure built on flexibility, allowing developers to create and launch apps in different programming languages. For this to be possible, SOL, the Solana token, is used to run transactions and custom programs while incentivizing users on the Solana network.

Kibet Elikana
Write a comment