Solana (SOL) - Complete Informational Guide.
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Solana (SOL) - Complete Informational Guide. What is Solana? Solana is a high-performance blockchain designed to support decentralized applications (dApps) and crypto projects with fast transaction speeds and low costs. It was created in 2017 by Anatoly Yakovenko and officially launched in 2020. Unlike Ethereum, which relies on Proof of Stake (PoS) and Proof of Work (PoW) in its early stages, Solana utilizes a unique Proof of History (PoH) mechanism to improve efficiency and scalability. Key Features of Solana <Proof of History (PoH) Solana's unique PoH mechanism timestamps transactions before they are processed, reducing the time nodes need to validate them. Improves transaction throughput significantly compared to traditional blockchains. <High Scalability Capable of processing 65,000 transactions per second (TPS). Uses parallel transaction processing to handle large workloads efficiently. <Low Transaction Costs Average transaction fee is around $0.00025, making it one ...