Solana Price - SOL/SGD : $196.7205

Solana is a powerful layer-one protocol built for fast speeds and low transaction fees. The network is made to scale and can handle high throughput to enable the next generation of user-friendly Web3 applications.

Solana is a computing platform that supports smart contracts and provides developers with an alternative building environment to Ethereum. It was specifically created to improve blockchain scalability issues, and offer fast and cheap transactions for users. Like Ethereum, Solana is both a cryptocurrency and decentralised blockchain network.

Programs is Solana's smart contract development tool, which allows users to build decentralised applications (dApps) without any blockchain experience. Rust is the native programming language used to write programs on Solana, however, the protocol also supports C, C++, Solidity (Ethereum) and is compatible with Substrate (Polkadot) and other third-party clients.

The Solana ecosystem is diverse. The network’s ability to process a large volume of transactions at once, combined with its low fees makes it appealing for many new blockchain-based projects, including; NFT marketplaces, gaming, music, decentralised finance (DeFi) and decentralised exchanges (DEXs).

SOL is the native token of the Solana blockchain and is used to pay for transactions on the network. People who have SOL tokens can also stake SOL to receive rewards. At the time of writing, there are 360 million coins in circulation with a total supply of approximately 533 million.

Learn more about Solana by visiting Solana’s official website.