Solana (SOL)
Table of Contents
About
Solana is the fastest blockchain in the world and the fastest growing ecosystem in crypto, with over 400 projects spanning DeFi, NFTs, Web3 and more.
Solana is a layer-one blockchain network focused on fast transactions and high throughput. It is specifically built to scale transaction throughput without sacrificing decentralization or security. Solana uses a unique method of ordering transactions to improve its speed. Users can pay their transaction fees and interact with smart contracts with SOL, the network’s native cryptocurrency.
Solana (SOL) promises faster transactions and lower fees compared to Ethereum, and is one of the newer smart-contract platforms touted as a “ETH Blockchain Killer”.
Major Events
- Solana suffers 7th outage in 2022 [Apr 2022]
- NFT minting bots on Solana contributed over 4 million transactions per second, knocking validators out of consensus and crashing the network for around seven hours.
- bots hoarded a popular application used by Solana NFT projects to launch collections called Candy Machine