Solana is a high-performance, permissionless blockchain designed for decentralized applications and crypto-currencies. It was developed by the Solana Foundation and was released in 2020. The Solana protocol is designed to facilitate decentralized app (dApp) development. It aims to improve blockchain scalability using a combination of proof of stake (PoS) consensus and proof of history (PoH) timestamp technology.
Proof of History is a unique feature of Solana. It’s a method for verifying the time and order of events without relying on a centralized clock. This technology intends to improve the efficiency of the network, allowing it to process fast and secure transactions.
Solana can handle thousands of transactions per second, making it one of the fastest blockchains in the world. It has its native cryptocurrency, called SOL, which is used for transaction fees and for staking in the network to help secure it.