SOL Solana

About Solana

Solana was founded in late 2017 by former Qualcomm, Intel, and Dropbox engineers. It is a single-chain delegated proof-of-stake protocol focused on providing scalability without compromising decentralization or security. At the heart of Solana’s scaling solution is a decentralized clock called Proof of History (PoH), designed to solve time problems in distributed networks without a single trusted time source. By using a verifiable delay function, PoH allows each node to generate timestamps locally using SHA256 calculations. This eliminates the need to broadcast timestamps throughout the network, improving overall network efficiency. SOL is the native token of the Solana blockchain. Solana uses a delegated proof-of-stake consensus algorithm to incentivize token holders to validate transactions. As part of Solana's secure design, all costs will be paid for in SOL and burned, reducing the total supply. This deflationary SOL mechanism encourages more token holders to participate in sharing, thereby improving network security.