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Solana

What is SOL token used for?

How Solana uses the SOL token. Solana is a high-speed proof of stake blockchain.

SOL token is


The native token of the Solana blockchain.

SOL token is used for


  • Staking for network security
  • Transaction fees

How could value accrue to the SOL token?


Fees

  • Transactions fees

Locking tokens

  • Staking

What is Solana?


Solana is a high-speed proof of stake blockchain.

How Solana works


Solana aims to be able to handle 700 000 transactions per second, without losing security or decentralization.

Solana does this by:

  • A method to share time between nodes even though they don’t trust each other.
  • A Solana cluster is a set of validators processing transactions
  • Using a bitcoin feature called nLocktime
  • Bitcoin clients uses block height instead of a timestamp when they don’t trust the network.
  • It’s a cryptographically secure way to say time has passed.

Solana uses a granular verifiable delay function for consensus.

Staking and rewards

Stakers are rewarded for helping to validate the ledger. They delegate stakes to validator nodes. Validators replay the ledger and send votes to a per-node vote account to which stakers can delegate their stakes.

  • Stakers put up the stake
  • Validators run the hardware

Token Isssuance


Current supply: 495,780,912

Genesis inflation: 7%
Final inflation: 1.5%

Presale: $0.22

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SOL token price


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