What is Solana?

Solana is a high-performance blockchain designed to facilitate decentralised applications (dApps) and crypto-currencies. It is distinguished by its remarkable processing speeds and low transaction costs, powered by its unique consensus mechanism combining Proof of History (PoH) and Proof of Stake (PoS). This hybrid model allows Solana to significantly enhance throughput and scalability without sacrificing security or decentralisation. The blockchain's architecture is specifically tailored for applications that require high-speed data streaming and a quick finality. Consequently, Solana has become a popular platform for a wide range of applications, including decentralised finance (DeFi), non-fungible tokens (NFTs), and decentralised gaming platforms.

What can you do with Solana?

• Facilitating high-speed, cost-effective transactions suitable for both consumer and enterprise-level applications.
• Providing a robust infrastructure for DeFi applications that benefit from quick transaction speeds and reduced latency.
• Enabling the creation and trade of NFTs by offering a scalable and efficient platform.
• Supporting real-time gaming and web3 applications due to its high throughput and low latency.
• Offering developers a scalable solution for building dApps that require fast response times and can handle high transaction volumes.

Frequently Asked Questions

Who founded Solana?

Anatoly Yakovenko and Raj Gokal founded Solana back in 2017, and it was first opened to the public in 2020

What are some use cases of Solana?

Solana enables high-speed, low-cost transactions, facilitating both everyday users and large enterprises. It offers robust infrastructure for DeFi applications that benefit from quick transaction processing. The network also enables users to trade and create NFTs.

Does Solana have its own ETF?

Yes, Rex - osprey provides staked Solana ETF service. As of August 2025, it has a total of 140 million in net inflows.

What is the history of Solana?

Solana was founded in 2017, launched its mainnet in 2020 with a proof of history, allowing it to process high transactions at very low cost. Solana gained huge traction in 2021, but faced challenges thereafter. As of August 2025, Solana has bounced back strongly with its market capitalisation exceeding $100 billion.

How is Solana different from Bitcoin?

Solana is a high-speed blockchain network designed for decentralised apps, offering fast transactions and low fees. Whereas Bitcoin is a secure, slower network, mainly regarded as a store of value.