Solana Price - SOL/NZD : $263.6503

Solana is a cryptocurrency and layer 1 protocol specifically created to improve blockchain scalability. Built for speed and high throughput, the network's ability to scale allows Solana to process faster, cheaper transactions and support a wide range of decentralised applications (dApps).

The Solana platform features built-in support for smart contracts and provides a more efficient building environment compared to Ethereum. Solana smart contracts, called Programs, make it easy for developers to build, test and deploy their own Web 3 products without needing any prior blockchain experience.

The Solana ecosystem is diverse and hosts a wide range of services that includes; gaming, Non-Fungible Tokens (NFTs), music apps, decentralised finance (DeFi), and decentralised exchanges (DEXs).

Programs (smart contracts) are written in Rust, however, the protocol can also support other programming languages, including C++ and Solidity (Ethereum) as well as other third-party clients, like Substrate (Polkadot).

The native token of Solana is SOL, which is used as a utility token to pay transaction fees on the Solana blockchain. Solana has 360 million coins in circulation and a total market cap of approximately 533 million.

Visit Solana’s official website if you would like to learn more about the Solana project.