Q: What Is the Market Cap of SOL?

Solana's high throughput and short transaction processing times are largely due to its unique consensus mechanism — a combination of Proof-of-Stake (PoS) and Proof-of-History (PoH).Proof-of-History (PoH) creates a time-stamped record of all transactions on the network, enabling nodes to quickly verify the order of transactions without the need for continuous communication. This approach reduces the time and energy required for consensus.

Question 1

What is Solana (SOL)?

Accepted Answer

SOL is the native currency of Solana — a layer-1 public blockchain platform with smart contract functionality. Solana was first proposed by software engineer Anatoly Yakovenko in 2017 and launched in 2020.

Question 2

How does Solana (SOL) work?

Accepted Answer

Solana aims to achieve high transaction speeds without sacrificing decentralization. It currently has a throughput of 50,000 to 65,000 transactions per second, making Solana one of the fastest blockchains in existence.

Question 3

What is Solana (SOL) used for?&nbsp;

Accepted Answer

Like Ethereum, Solana both maintains a distributed payment network and functions as a decentralized computing platform for creating and deploying decentralized applications (DApps).

Question 4

What Is the Market Cap of SOL?&nbsp;

Accepted Answer

Solana&#x27;s high throughput and short transaction processing times are largely due to its unique consensus mechanism —&nbsp; a combination of Proof-of-Stake (PoS) and Proof-of-History (PoH).Proof-of-History (PoH) creates a time-stamped record of all transactions on the network, enabling nodes to quickly verify the order of transactions without the need for continuous communication. This approach reduces the time and energy required for consensus.

Question 5

What is Solana’s (SOL) Circulating Supply?

Accepted Answer

Solana is a public, open-source blockchain, built to host scalable decentralized applications (dApps) and facilitate transactions in its native cryptocurrency SOL.

Question 6

How to Buy Solana (SOL)?&nbsp;

Accepted Answer

&nbsp;SOL (Solana) currently has a market capitalization of NGN 103,248,873,558,277.00

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