Solana(SOL) is a high-performance, open-source blockchain platform. Founded in 2017 by Anatoly Yakovenko, a former Qualcomm engineer, Solana aims to improve blockchain scalability using a novel timestamp system called Proof of History (PoH). Unlike traditional blockchains that rely on Proof of Work or Proof of Stake consensus mechanisms, Solana's PoH allows for greater speed and efficiency. Solana's native cryptocurrency, SOL, is used for transaction fees and staking in its network. It also serves as a governance token, allowing holders to vote on changes to the network's protocol.
Despite being called the "Ethereum Killer" at the beginning and having excellent performance, Solana has experienced many downtimes，each time makes token price drop significantly. Also, In November 2022, with the collapse of FTX, Solana, as a project invested by FTX Ventures and Alameda and participating in ecological construction, is also greatly impacted.
Moreover, in June 2023, the SEC filed lawsuits against Binance and Coinbase, in which the SOL token was defined as a security in both cases. Although liquidity staking developed greatly in Solana ecosystem recently, its market cap is still far away from the historical highest point.
Above are only for introduction, not intended as investment advice.
