About Solana (SOL)
What Is Solana (SOL)?
Solana is a high-throughput smart-contract blockchain. SOL is its native coin. It pays network fees, can be delegated to validators, and is used across DeFi, payments, gaming, NFTs, and consumer applications.
How Does Solana Work and What Is SOL Used For?
Solana combines proof of stake with a time-ordering mechanism commonly called proof of history. Validators process transactions and vote on the chain. Every transaction pays a base fee in SOL and may add a priority fee. SOL supply is inflationary under a declining schedule that targets a long-term annual rate of 1.5%. Part of the base fee is burned.
Solana Security, Control and Risks
Security depends on validators, client software, stake distribution, and reliable network operation. Risks include validator and stake concentration, client bugs, congestion, failed transactions, application exploits, and historical network interruptions. Delegation does not transfer ownership, but validator performance affects rewards.
Frequently Asked Questions About Solana
Can SOL be staked?
Yes, directly or through third-party liquid-staking products.
Does SOL have a hard cap?
No.
What pays Solana fees?
SOL.
Sources and Verification
Official sources
- Solana documentation Active
- Solana staking Active
- Fee documentation Active