Solana (blockchain platform)
Public blockchain platform / From Wikipedia, the free encyclopedia
Solana is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality. Its native cryptocurrency is SOL.
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 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.