Solana is one of the open-source blockchains which hosts decentralized applications (dApps), scalable smart contracts, and non-fungible tokens (NFTs).

What is the Consensus mechanism?

A consensus mechanism is a system of nodes which is programmed to achieve distributed agreements, trust, and security across decentralized computer networks. In the blockchain network, the Consensus mechanism validates transactions and builds trust among traders.

What consensus does Solana use?

Solana employs a Proof-of-Stake consensus algorithm with a unique Proof-of-History feature. It enables fast, cost-effective, high-throughput transactions with low latency within the ecosystem.

What is Proof-of-History Protocol?

Proof-of-history is a cryptographic protocol that creates a historical record to prove the existence of data at a specific time frame.

How fast are Solana Transactions?

Compared to other blockchains, Solana is one of the fastest blockchains in the crypto world. With its consensus algorithm, this unique blockchain can handle 65000 transactions per second.

What is the role of SOL in the Solana Ecosystem?

The native cryptocurrency of Solana is SOL. Primarily, SOL can be used in the Solana Ecosystem for the major reasons like Multiple transactions Secure Staking Participating in Governance decisions.

Can Solana's SOL be used to buy NFTs

Yes. Solana's SOL supports users in buying and creating non-fungible tokens (NFTs). You can purchase NFTs as follows Buy SOL on a reputable crypto exchange, like Binance or Coinbase Transfer SOL to a wallet that's compatible with Solana Network Navigate to the Solana NFT marketplace Purchase the NFTs

What is the use of Solana in real life?

Solana can be ideal for real-time allocations like: Games Financial Services Creating Decentralized Autonomous Organizations

Can Solana be used for cross-border payments?

Obviously, Yes. Since Solana's blockchain offers high-speed and charges low transaction fees, Solana is one of the suitable networks for accessing cross-border payments.

Which Wallets support Solana?

Solana's SOL can be exchanged, staked, and stored in the Wallets like: Desktop Wallets, Mobile Wallets, and Hardware Wallets. Some of the most trustable wallets are: Ledger Phantom Solfare Trust Wallet Nano X

Solana (SOL) News: Latest Updates, Headlines & Analysis

Read all the latest crypto news curated from the best local news sources globally. We provide up-to-date crypto news items so you can make the best investment choices.

Solana (SOL) News: Latest Updates, Headlines & Analysis

Solana Joins Bitcoin, Ethereum as Hong Kong Approves Spot ETF

Solana Gains Institutional Attention with Scaling and ETF

QMMM Crashes After SEC Charges Over $100M Crypto Plan

Galaxy Digital Deposits $51M SOL to Binance, Whale Moves Watch

Solana’s REV Surges to $223 Million in Q3, Surpassing Tron

Solana Reclaims the No.1 Spot in 24-Hour DEX Volume

Solana Surpasses 100,000 TPS During Massive Liquidation Event

Pudgy Penguins, Sharps Merge NFTs with Solana Finance

Sharps Technology Partners with Coinbase to Grow Its Digital Asset

$7.6M Solana Long: Top Hyperliquid Trader Bets Big Amid Market Consolidation

Solana Expands in China with “Accelerate APAC” Events in Shanghai, Hangzhou, and Shenzhen

Japan Gets First Solana Treasury via DeFi Development, Superteam

Solana and BNB Chain Stablecoin Supply Hits Record Highs

Huma Finance Unveils Project Flywheel to Power Solana PayFi

Grayscale Launches US Crypto ETPs With Ethereum and Solana

Solstice Launches Delta-Neutral YieldVault on Solana with Institutional-Grade Strategies

Bitcoin Tops $3.55B Inflows as Crypto Funds See $5.95B Week

$100M Moves from Solana to BNB Chain via Debridge in 7 Days

Solana Outpaces Ethereum on Key Metrics Yet Remains 5x Undervalued

Crypto VC Rounds Fall 25% in September, Funding Totals $5.12B

Solana Staking ETFs Could Beat Ethereum, Says Bitwise CEO

VisionSys Solana Treasury Moves $500M SOL Into Staking

Keel Fi Launch Boosts Liquidity for Tokenized Assets on Solana

Crypto.com Optimizes Solana Treasury Holding Over 2M SOL

HumidiFi Tops Solana DEXs With $8.55B Weekly Volume, Beats Rivals

Solana ETF Outcome Nears as SOL Dips Below $200

REX-Osprey Secures 76,617.48 SOL Worth 15 Million

Solana Surges Ahead in DEX Volume and App Revenue

PancakeSwap Cross-Chain Swaps Launch with Solana Support

Crypto ETF Listings Now Easier with SEC’s New Rules