Buy Solana (SOL) in Australia

Solana is a highly scalable, low-cost and extremely fast, decentralised computing platform.

Solana’s scalability allows the network to offer cheap transactions, promising to remain less than $0.01 for both its developers and users.

Solana is also very fast, with speed being its primary focus. It can process transactions with 400 millisecond block times and will only increase as hardware becomes even faster.

Solana is a completely decentralised blockchain that is resistant to censorship. The network is secured by over one thousand independent validator nodes.

Solana uses both Proof of Stake (PoS) and Proof of History (PoH) consensus mechanisms.

Solana operates as a Proof of Stake (PoS) blockchain and also uses its own unique Proof of History (PoH) model. The combination of using PoS and PoH allows validators to trust the time and order of transactions independently of each other. This is what enables the Solana network to operate at lightning-fast speeds and process transactions with a throughput of 65k TPS (and a theoretical limit of 710,000 TPS in the future).

Until very recently, Solana was the fastest blockchain in the industry; however Bitgert, a newer chain claims to have a throughput of +100k TPS, which is even faster than Solana, with a zero-cost gas fee.

Solana was originally proposed by Anatoly Yakovenko.

The Solana whitepaper was first published on November 2017 by Anatoly Yakovenko. It described the concept of a new consensus mechanism called proof-of-history. Other co-founders include Greg Fitzgerald, Stephen Akridge and Raj Gokal. Solana's first block was created on 16 March 2020.

The Solana community is a group of people from all around the world who develop and support the protocol. The project is managed by Solana Labs and the Solana Foundation.

No, Solana (SOL) is a proof-of-stake coin and cannot be mined.

As a PoS blockchain, Solana cannot be mined; however, you can earn more Solana if you stake SOL by delegating your SOL tokens to a validator or becoming a validator node yourself.

If you buy SOL to hold Solana for the long term, staking can be a good option because you will receive SOL rewards and over time you can accumulate more Solana. Learn more about staking Solana.

You can purchase Solana (SOL) right here on Independent Reserve.

We are Australia’s trusted cryptocurrency exchange. Since 2013, our mission has been to build the safest and most secure way to buy and sell Solana and other cryptocurrencies.

Create your account today and choose from a wide range of features we offer to improve your trading experience. We have world-class security, low fees, a large OTC desk, and a friendly customer support team to assist you when you need help.

Independent Reserve is the most established crypto platform in the country, with an impeccable record after almost ten years in business. It’s no wonder why we are voted the #1 Best Digital Currency Exchange 2019-2021.

Yes. Deposit money into your Independent Reserve trading account to buy SOL with AUD.

Deposit AUD into your trading account to start buying Solana with as little as $10. Receive free deposits on bank transfers of $100 and above. Enjoy instant deposits using PayID, debit or credit card, and PayPal. Deposits using EFT can take 1 to 2 days to process funds, depending on your bank.

After you buy Solana your SOL tokens will automatically appear in your crypto wallet, where you can safely leave them to be stored on our exchange. If you need more help, visit our support page. You can also download our app and purchase SOL on the go using your mobile device.