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Introduction to the Solana Blockchain

Solana is one of the world’s cheapest and fastest public blockchains.

It has a block time of 400 milliseconds and transaction fees of less than $0.01.
Solana’s native token is SOL. Fractional sols are called “lamports” and each lamport equals 0.0000000000582 SOL.

SOL can be:

  • staked directly on the network
  • delegated to validators in return for inflation rewards
  • used to pay for fees for sending transactions
  • used to pay for running smart contracts


The Solana Foundation is a non-profit organization headquartered in Zug, Switzerland, dedicated to the decentralization, growth, and security of the Solana network.

Solana has a very vibrant ecosystem with more than 400 DeFi, NFTs, Web3 projects.

Consensus mechanism:
Proof of History (PoH) and Tower BFT

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This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

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