Solana

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What is Solana?

Solana is a blockchain platform that has a unique hybrid consensus model, making it lightning-fast and efficient.

SOL is its native cryptocurrency used for transaction fees.

The blockchain claims to have solved the Bitcoin trilemma which talks about three things developers want in an ideal blockchain – decentralization, scalability, and security.

Solana uses a hybrid mechanism called Proof-of-History (PoH), which involves timestamps that place specific dates and time on each block, along with cryptographic proof.

The token can be used for trading, minting, and selling NFTs, building decentralized finance platforms, blockchain games, supporting stable coins and wrapped assets, governance voting, and staking.

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