SOL Solana

About Solana

Solana was founded by former Qualcomm, Intel and Dropbox engineers at the end of 2017. It is a single-chain entrusted proof-of-stake protocol that focuses on providing scalability without reducing decentralization or security. The core of Solana's extended solution is a decentralized clock called "Proof of History (PoH)", which aims to solve the time problem in a distributed network where there is no single trusted time source. By using a verifiable delay function, PoH allows each node to use SHA256 calculations to generate a time stamp locally. This eliminates the need to broadcast the timestamp on the entire network, thereby improving the 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 verify transactions. As part of Solana's security design, all costs will be paid in SOL and burned, thereby reducing the total supply. This deflationary SOL mechanism encourages more token holders to participate in shares, thereby improving network security.