Solana is one of the open-source blockchains which hosts decentralized applications (dApps), scalable smart contracts, and non-fungible tokens (NFTs).

What is the Consensus mechanism?

A consensus mechanism is a system of nodes which is programmed to achieve distributed agreements, trust, and security across decentralized computer networks. In the blockchain network, the Consensus mechanism validates transactions and builds trust among traders.

What consensus does Solana use?

Solana employs a Proof-of-Stake consensus algorithm with a unique Proof-of-History feature. It enables fast, cost-effective, high-throughput transactions with low latency within the ecosystem.

What is Proof-of-History Protocol?

Proof-of-history is a cryptographic protocol that creates a historical record to prove the existence of data at a specific time frame.

How fast are Solana Transactions?

Compared to other blockchains, Solana is one of the fastest blockchains in the crypto world. With its consensus algorithm, this unique blockchain can handle 65000 transactions per second.

What is the role of SOL in the Solana Ecosystem?

The native cryptocurrency of Solana is SOL. Primarily, SOL can be used in the Solana Ecosystem for the major reasons like Multiple transactions Secure Staking Participating in Governance decisions.

Can Solana's SOL be used to buy NFTs

Yes. Solana's SOL supports users in buying and creating non-fungible tokens (NFTs). You can purchase NFTs as follows Buy SOL on a reputable crypto exchange, like Binance or Coinbase Transfer SOL to a wallet that's compatible with Solana Network Navigate to the Solana NFT marketplace Purchase the NFTs

What is the use of Solana in real life?

Solana can be ideal for real-time allocations like: Games Financial Services Creating Decentralized Autonomous Organizations

Can Solana be used for cross-border payments?

Obviously, Yes. Since Solana's blockchain offers high-speed and charges low transaction fees, Solana is one of the suitable networks for accessing cross-border payments.

Which Wallets support Solana?

Solana's SOL can be exchanged, staked, and stored in the Wallets like: Desktop Wallets, Mobile Wallets, and Hardware Wallets. Some of the most trustable wallets are: Ledger Phantom Solfare Trust Wallet Nano X

Solana (SOL) News: Latest Updates, Headlines & Analysis

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Solana (SOL) News: Latest Updates, Headlines & Analysis

Solana Withstands 6 Tbps DDoS Attack With No Network Disruption

Invesco Galaxy Debuts Staking Solana ETP With 17,500 SOL Backing

Institutional Demand Stays Strong as Bitcoin, Ethereum, Solana, ETFs Add $530M

Helius Labs Expands Solana Developer Power With New History API

Solana Pushes DeFi Forward as RockawayX Launches RWA Vaults

Binance Froze Only 17% of Upbit Hack Funds After 15-Hour Delay

Solana’s Metaplex Launches Genesis SDK for Open Fair-Launch Platforms

Coinbase Unlocks DEX Access for Every Solana Token

Phoenix Perpetuals Launch Positions Solana for a New Era of On-Chain Derivatives

FTX Unstakes 194,861 SOL Worth $25.5M in Latest Monthly Unlock

PUMP Tops Solana With $205M Buybacks, 13.8% Supply Retired

Solana ETFs Record $16.6M Daily Inflows as Institutional Demand Accelerates

Solana Validator Numbers Slide 68% Since 2023, Community Divided

Upbit Delayed Hack Disclosure by 6 Hours During Naver M&A Talks

A New Era Starts as Solana and Base Connect Through Chainlink

HumidiFi Profit Model Under Fire as Solana DEX Giant Plans ICO

Solana SKR Token Launch Targets Decentralized Mobile Apps

Solana Sees Fresh Growth as x402 Daily Transactions Top 600K

Crypto ETF Flows Shift as Solana Sees First Outflow While BTC, ETH, and XRP Climb

Upbit Halts Withdrawals After $38.5M Asset Theft on Solana Network

Solana ETFs Deliver a Perfect Inflow Streak

Bitwise Big Solana Moment As Investors Pour $39.5M Into SOL ETF

Bitcoin ETFs Record 151M Outflow While ETH and SOL ETFs Post Strong Inflows

Solana ETFs: $2.07M Inflows Signal Strong Investor Interest

Fidelity SOL Staking ETF Goes Live November 19 in Major Debut

VanEck Debuts Solana ETF as Grayscale Prepares Nov 24 Dogecoin ETF

Crypto ETF Flows Show BTC Out, SOL and XRP In This Week

Upexi Drops $50M Buyback Bombshell — SOL Treasury Could Send Shares Into Orbit!

Hyperliquid Whale Adds 35K SOL, Keeps $29M BTC Long Active

Bitcoin and Ethereum Struggle as Solana Stands Out in a Volatile ETF Market