What is Solana?
Solana is a highly functional layer-1 blockchain that helps create crypto apps. It was built in 2017 by Anatoly Yakovenko, a former Software Engineer at Dropbox and Senior Staff Engineer at Qualcomm. Solana’s cryptocurrency is SOL.HeadquarterHeadquarters in Geneva, Switzerland.
Solana includes proof-of-history (PoH) technology and a proof-of-stake (PoS) mechanism. As a result, the Solana network can process over 700,000 transactions per second (TPS) with no scaling solutions needed. Furthermore, Solana's scalability ensures transactions remain less than $0.01 for both developers and users.
Solana blockchain architecture is formed to support smart contracts, decentralized apps (DApps), decentralized finance (DeFi), and NFT marketplaces.