Solana

Extracted Attributes

• Type

  Blockchain platform

• Purpose

  Support scalable and high-performance decentralized applications (dApps)

• Key Feature

  Blockchain-based gaming

• Open Source

  Yes

• Market Positioning

  World's Execution Layer

• Consensus Mechanism

  Hybrid (Proof-of-History (PoH) and Proof-of-Stake (PoS))

• Native Cryptocurrency

  SOL

• Claimed Transaction Speed

  Up to 710,000 transactions per second (TPS)

• Typical Transaction Speed

  2,000 to 3,000 transactions per second (TPS)

• Headquarters (Solana Foundation)

  Geneva, Switzerland

Timeline

• Initial idea and work on the Solana project began. (Source: Web Search (Caleb & Brown, CoinMarketCap))

  2017

• Solana Labs was founded by Anatoly Yakovenko and Raj Gokal. (Source: Web Search (Wikipedia))

  2018

• Solana blockchain officially launched to the public with its first block created. (Source: Web Search (Wikipedia, CoinMarketCap))

  2020-03-16

• Solana Labs sold $314 million worth of SOL cryptocurrency to a group of funds led by Andreessen Horowitz and Polychain Capital. (Source: Web Search (Wikipedia))

  2021-06

• Experienced several major network outages, a wallet hack, and faced class action lawsuits and SEC scrutiny regarding unregistered securities. (Source: Web Search (Wikipedia))

  Ongoing

Web Search Results

• Solana Price, SOL Price, Live Charts, and Marketcap - Coinbase

  Solana is a decentralized blockchain network designed to support scalable and high-performance decentralized applications (dApps). The Solana blockchain integrates a combination of proof-of-history (PoH) and proof-of-stake (PoS) mechanisms to validate transactions and maintain network consensus. This hybrid architecture seeks to allow Solana to process a large number of transactions per second while maintaining low fees. Developers use Solana for building applications in decentralized finance [...] Solana is a decentralized computing platform that uses SOL to pay for transactions. Solana aims to improve blockchain scalability by using a combination of proof of stake consensus and so-called proof of history. As a result, Solana claims to be able to support 50,000 transactions per second without sacrificing decentralization.  Whitepaper Official website  USD   Happening now AI generated 18h ago  [...] Solana is used in a wide range of blockchain applications, from decentralized finance (DeFi) to NFTs and blockchain-based games. The network's infrastructure aims to support the execution of smart contracts, tokenized assets, real-time transactions, and decentralized exchanges. Projects built on Solana include tools for lending, staking, synthetic assets, and automated market makers. Because of its speed and relatively low transaction costs, Solana has attracted developers seeking alternatives

• Solana (blockchain platform) - Wikipedia

  Solana is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality. Its native cryptocurrency is SOL. [...] Solana was first opened to the public in March 2020, with its first block being created on 16 March 2020. The Solana blockchain was designed to support smart contracts and decentralized apps in particular. Large numbers of simultaneous transactions have contributed to several outages of the Solana blockchain. In June 2021, Solana Labs sold $314 million worth of its native cryptocurrency, SOL, to a group of funds led by Andreessen Horowitz and Polychain Capital. [...] Solana was launched in 2020 by Solana Labs, which was founded by Anatoly Yakovenko and Raj Gokal in 2018. The blockchain has experienced several major outages, Solana wallets were subjected to a hack, and a class action lawsuit was filed alleging that Solana sells unregistered securities "Security (finance)"), and misled investors about the number of tokens. The SEC has also filed a lawsuit against a cryptocurrency exchange alleging that Solana should be regulated as a security.

• What is Solana? A Beginner's Guide - Caleb & Brown

  Solana is a third-generation, open-source blockchain, that aims to scale transaction speeds without compromising security and privacy. Similar to Ethereum, Solana is a programmable blockchain, allowing users to create, upload, and/or execute smart contracts. It is also a space for developers to create and publish decentralised apps (DApps). It has evolved to become a marketplace for users to access decentralised finance (DeFi), games, and non-fungible tokens (NFTs). [...] Solana was co-founded by Anatoly Yakovenko in 2017, a previous lead systems engineer at Qualcomm. Solana’s unique hybrid consensus model touts transaction speeds that rival Visa and Mastercard, along with equally low fees. Solana is the first crypto project to introduce the concept of Proof of History (PoH) as a consensus mechanism. Blockchain technology disrupted the idea of transacting across borders.

• What Is Solana (SOL)? How It Works And What To Know - Forbes

  Solana is a high-performance public blockchain platform that provides fast transaction speeds and low fees for developers and users, especially in comparison to some of the older public blockchains such as Ethereum. Launched in 2020, Solana has quickly garnered attention from the crypto community, especially as decentralized finance (DeFi) and non-fungible tokens (NFTs) have developed. [...] One of Solana’s main draws is its combination of speed and cost-effectiveness. With the ability to process tens of thousands of transactions per second at extremely low fees, Solana opens the door to use cases that were once challenging on slower or more expensive networks. These features are especially valuable for real-time trading, microtransactions, gaming and data-intensive dApps. [...] Solana caters to a variety of use cases, from decentralized exchanges (DEXs) and payment solutions to blockchain-based gaming. Real-time financial applications, such as automated market makers and order book-based DEXs, are particularly suited to Solana’s speed and low fees.

• Solana price today, SOL to USD live price, marketcap and chart

  Solana is a high-performance blockchain that was designed to process up to 710,000 transactions per second, though real-world throughput typically ranges from 2,000 to 3,000 TPS. It achieves this through an innovative timekeeping mechanism called Proof of History, which creates a reliable timestamp for all transactions without needing validators to agree on time. Think of it like a super-fast digital ledger that keeps perfect time, making it ideal for decentralized applications that need speed [...] Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland. To learn more about this project, check out our deep dive of Solana. [...] The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain. Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

• Country

  Philippines

• Located In

  Cagayan

• Instance Of

  Q24764

• Population

  89,840

• Coordinates

  Lat: 17.652222222, Lon: 121.691388888