Solana was launched in 2020 and was originally developed as a high-performance blockchain platform that can provide fast and scalable decentralized applications (DApps) and cryptocurrencies.
Solana aims to overcome the scalability limitations of some other blockchain networks by providing high throughput and low latency for a wide range of applications. Solana’s architecture incorporates unique technologies to achieve its goals.
Solana is designed to process a large number of transactions per second (TPS), with the goal of reaching thousands of TPS. This high throughput is achieved through its unique consensus mechanism and architecture.
Solana uses Proof of History (PoH), a verifiable timestamping mechanism that provides a historical record of transactions. PoH helps to order and synchronize transactions, which improves the overall efficiency of the network.
Moreover, it uses a variant of the practical Byzantine Fault Tolerance (BFT) consensus mechanism called Tower BFT. It increases security and speed while maintaining decentralization.
Solana works with a single, shared global state, which means that all transactions and smart contracts interact with the same data. This architecture reduces the complexity of cross-contract communication.
In addition, Solana uses parallel processing and multi-threading to execute transactions simultaneously, further improving speed and scalability.
The development of smart contracts is supported by the Solana Program Library (SPL). Developers can create decentralized applications using common programming languages such as Rust and C.
Token SOL
Solana (SOL) is the native cryptocurrency of the Solana network and is used for transaction fees, staking, participation in governance and access to network resources.
Community
Solana has an active community of developers, validators and enthusiasts working to improve the platform and expand its capabilities.
It has attracted a growing ecosystem of DApps, projects, and initiatives that leverage its speed and scalability for various applications, including DeFi, NFTs, and more.
Solana ETF approval becomes a reality (first in the US)
The first Solana ETF listed in the US has been approved and is now trading, as was reported in July 2025. The REX-Osprey Solana + Staking ETF (SSK) combines Solana exposure with a substantial staking yield of 7.3%, building an important bridge between traditional finance and the crypto ecosystem.
This approval is seen as a major catalyst for wider adoption of altcoin ETFs, with analysts seeing strong opportunities for XRP, Litecoin and Cardano ETFs by the end of 2025.
Disclaimer. This article is for informational purposes only and should not be viewed as an endorsement by CoinIdol. They are not a recommendation to buy or sell cryptocurrency. Readers should do their research before investing in funds.
Source: https://coinidol.com/solana-sol-token/