Solana (SOL)

Solana is known as a highly functional open source project that relies on the permissionless nature of blockchain technology to provide decentralized finance solutions. While the ideas and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation, headquartered in Geneva, Switzerland. The Solana protocol is designed to make it easier to create decentralized applications. It aims to improve scalability by introducing a Proof of History consensus combined with the underlying Proof of Stake consensus of the blockchain. Due to its innovative hybrid consensus model, Solana attracts the attention of both small-scale individuals and institutional trading institutions. A key focus for the Solana Foundation is making decentralized finance accessible on a larger scale. SOL is referred to as the name of Solana's native token, which can be transmitted to nodes in the Solana cluster in exchange for running an on-chain program or verifying its output. The system uses fractional data called lamport. .