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Introduction to the Solana Blockchain

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:

  1. staked directly on the network
  2. delegated to validators in return for inflation rewards
  3. used to pay for fees for sending transactions
  4. 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

Introduction to the Solana Blockchain


Introduction to the Solana Blockchain was originally published in Blockchain Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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