What is Solana (Solana)?

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance ( DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.

What is the Solana protocol?

The Solana protocol is intended to serve both small-time users and enterprise customers alike. One of Solana’s main promises to customers is that they will not be surprised by increased fees and taxes. The protocol is designed in such a way as to have low transaction costs while still guaranteeing scalability and fast processing.

What is the price of Solana (Sol)?

The current price is $22.00 per SOL. Solana is 91.54% below the all time high of $260.06. The current circulating supply is 394,759,025.483 SOL. This content is for informational purposes only. Solana is a decentralized computing platform that uses SOL to pay for transactions.

Why did the price of Solana skyrocket?

Soon after first becoming broadly available to cryptocurrency investors, the price of Solana skyrocketed. Although the crypto launched in 2020, the price of SOL quickly elevated Solana past some of the most well-known and long-established projects in the market cap standings.