SOL Specifications

Type

COIN

Algorithm

Protocol

POH

Start Date

11/01/2017

Max Supply

Circ. Supply

479,246,610

Website

Explorer

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Intro

Solana (SOL) is a fast, censorship-resistant blockchain that supports one of the fastest-growing ecosystems in crypto. The platform was originally founded in 2017 by Anatoly Yakovenko. Later in 2018, Anatoly collaborated with Greg Fitzgerald and Stephen Akridge and founded a company that would eventually become Solana Labs. At the moment, Solana Labs remains a core contributor to the Solana network, while the Solana Foundation helps fund ongoing development and community-building efforts.

The Solana protocol provides infrastructure and an ecosystem for the deployment of decentralized apps. 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. The PoH system serves to timestamp successful transactions prior to validation via PoS, so that the network creates a historical event log, specifying the order in which its transactions took place before they are added to the chain. This improves network efficiency by eliminating the need for broadcasts of timestamps across the network. In addition to the PoH system, Solana’s highly performant blockchain is built using technology innovations that optimize the speed and bandwidth of the network.

SOL is the native token of the Solana blockchain and powers all transactions and smart contract processes on the network.

Features

Transaction Fees
SOL tokens can be used to pay fees for sending transactions or running smart contracts that interact with applications.
Staking
Users who stake their SOL either directly on the network or delegate their holding to an active validator help secure the network. In return, stakers receive inflation rewards.
Fast Transactions
The Solana network can process 50K transactions per second.
Sealevel Technology
A transaction processing machine that allows thousands of smart contracts to be executed in parallel without slowing down network performance.
Pipelining Protocol
This protocol efficiently assigns input data for processing in a sequence of steps from the hardware responsible for processing it, to enable faster validation and replication across network nodes.
Gulfstream Protocol
This protocol facilitates transaction caching, allowing validators to verify transactions on Solana prior to their final approval and addition to the blockchain.
Turbine Block Propagation Protocol
As a block is streamed, it is divided into small packets along with deletion codes, to better facilitate transmission between nodes on the Solana network.
Tower BFT
A PoH-optimized version of PBFT that leverages the synchronized clock enabled by PoH to achieve consensus on network transactions.

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*The indicators above, do not represent an investment advice and should not be treated as such. Please make your own research and risk assessment before exchanging your assets.