FAQ
Solana is a fast, low-cost blockchain platform for building and using decentralized applications. It can process over 65,000 transactions per second at fees under $0.001. SOL is its native cryptocurrency.
Proof of History (PoH) is Solana’s cryptographic clock. It creates a tamper-proof, verifiable record of time directly on the blockchain, allowing validators to process transactions in parallel without constant communication — dramatically increasing speed.
Solana is significantly faster (65,000+ TPS vs. ~15–30 TPS), cheaper (< $0.001 vs. $0.50–$5+), and uses a unique PoH + PoS model. Ethereum has a larger developer ecosystem and has never suffered a major network outage.
SOL is used to pay transaction fees on the Solana network, stake to earn rewards and help secure the blockchain, and participate in governance votes.
Yes. SOL holders can delegate their tokens to validators to earn staking rewards. Rewards begin accruing two epochs after staking and are automatically compounded. There is no minimum amount required to stake.
Solana has strong fundamentals, a large ecosystem, and institutional support via ETFs. However, it has a history of network outages, regulatory uncertainty, and high price volatility. Always research thoroughly before investing.
Yes. Solana has experienced multiple network outages since 2021, some lasting several hours. The team has responded with software upgrades each time. The Firedancer validator client, currently in development, is designed to significantly improve network reliability.
Firedancer is a new independent validator client being developed for Solana, designed to dramatically increase throughput (potentially to 600,000–1.2 million TPS) and improve network stability and decentralization.