Solana (SOL) is a decentralized, high-performance blockchain platform that aims to provide fast, secure and low-cost transactions for decentralized applications (dApps) and decentralized finance (DeFi) projects. It was created in 2017 by Solana Labs, a team of experienced blockchain developers. Solana utilizes a unique consensus algorithm called “Proof of Stake Time” (PoST) that allows for high-throughput and low-latency transactions. This makes Solana one of the fastest blockchain networks in the market, able to process up to 65,000 transactions per second.
Solana also has a built-in decentralized exchange (DEX) called Serum, which allows for fast and efficient trading of assets. Solana has been gaining popularity among developers and projects due to its high-performance and low-cost attributes, positioning itself as a next-generation blockchain platform for dApps and DeFi projects.