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Solana (SOL) is a highly functional open source project that implements a new layer 1, permissionless, high-speed blockchain.

Full name Solana
Initials SOL
FOUNDER Anatoly Yakovenko
Characteristic A medal that is superior in speed. plus reduced fees
Usage SOL tokens can be staked to earn rewards for securing the blockchain.
Attribute The Solana network can process up to 65,000 transactions per second. with a fee of only $0.00025 per transaction
Solana aims to increase throughput and network speed. to help reduce transaction fees
SOL will be burned to pay fees on the network. The same goes for Gas on the Ethereum Blockchain.
Risk The Layer-1 blockchain has competitors like Ethereum, Cardano, and Polkadot, so its adoption of SOL depends on its ability to gain market share as a top Layer-1.
Solana has a large number of users (Whale) who own a large number of crypto wallets worth more than 10,000 SOL, although most of them are for verification purposes, Node or Solana Foundation Reserve.
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