Solana (blockchain platform)

Solana

Denominations
Code	SOL
Development
Original author(s)	Anatoly Yakovenko, Raj Gokal
White paper	Solana: A new architecture for a high performance blockchain
Code repository	https://github.com/solana-labs/solana
Development status	Active
Developer(s)	Solana Labs & Solana Foundation
License	Apache 2.0[1]
Ledger
Block explorer	https://explorer.solana.com/
Website
Website	Official website

Solana is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality. Its native cryptocurrency is SOL.

Solana was launched in 2020 by Solana Labs, which was founded by Anatoly Yakovenko and Raj Gokal in 2018. The blockchain has experienced several major outages, was subjected to a hack, and a class action lawsuit was filed alleging that Solana sells unregistered securities, and misled investors about the number of tokens. The SEC has also filed a lawsuit against a cryptocurrency exchange alleging that Solana should be regulated as a security.

Solana's total market cap was US$55 billion in January 2022. However, by the end of 2022, this had fallen to around $3 billion following the bankruptcy of FTX. Following the general rise of the cryptocurrency market in 2023, its market cap rose to $7 billion.