Solana (SOL)

What is Solana (SOL)?

Launched 2020. Targets DeFi, NFTs, payments with much lower fees than Ethereum (~$0.001/TX vs $1+). Uses Proof of Stake + Proof of History. Major DEXes: Jupiter, Raydium, Orca.

Also known as

Related terms

• Proof of Stake (PoS)Consensus where stakers (not miners) validate blocks
• Proof of History (PoH)Solana's verifiable-clock mechanism for sub-second blocks
• SPL TokenSolana's standard for fungible tokens (analog to ERC-20)
• LamportSmallest SOL unit: 1 SOL = 1,000,000,000 lamports