Start with the basics
Solana Basics
Learn how Solana works from the ground up – Proof of History, smart contracts, transaction fees and everything a beginner needs.
Frequently asked questions
What is Solana? +
Solana is a high-performance Layer 1 blockchain capable of processing over 65,000 transactions per second with fees below one cent. It uses a unique consensus mechanism called Proof of History to achieve this speed without sacrificing decentralisation.
What is SOL used for? +
SOL is the native token of the Solana network. It is used to pay transaction fees, participate in staking to help secure the network, and vote on governance proposals. You need SOL to interact with any application built on Solana.
Who created Solana? +
Solana was created by Anatoly Yakovenko, who published the original Proof of History whitepaper in November 2017. He co-founded Solana Labs with Greg Fitzgerald and other former Qualcomm engineers. The mainnet launched in March 2020.
How is Solana different from Ethereum? +
Solana is significantly faster and cheaper than Ethereum. While Ethereum processes around 15-30 transactions per second with fees that can reach tens of dollars, Solana handles thousands per second for fractions of a cent. The trade-off is that Ethereum has a larger developer ecosystem and longer history of security.
What is Proof of History? +
Proof of History is a cryptographic clock that records the order and timing of events on the Solana blockchain. Instead of validators agreeing on the time of each transaction, PoH creates a verifiable historical record that allows the network to process transactions in parallel at much higher speed.
Is Solana a good investment? +
This is not financial advice. Solana, like all cryptocurrencies, is a high-risk asset with significant price volatility. Before making any investment decision, conduct your own research, understand the risks involved, and consider consulting a licensed financial adviser in your jurisdiction.
