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SOL is the native cryptocurrency of the Solana network and is one of the most important cryptocurrencies in the ecosystem, second only to Bitcoin, Ethereum and the main stablecoins.
SOL is a utility token that is mainly used to pay commissions when operating with dapps in the Solana ecosystem, but it also allows you to pay the fee when creating these dapps, programming smart contracts, mining NFTs or making value transfers on your blockchain.
Solana is a blockchain network of decentralized nodes that allows the programming of smart contracts, works as a network with delegated proof-of-stake (PoS) consensus and validation by proof-of-history, so SOL allows its holders to participate and ensure the operation of the network through staking.
Solana is one of the strongest, most scalable and fastest blockchains for operating with smart contracts. That is, to develop all kinds of tools on that network.
The Solana blockchain was public and operational in 2020, and was managed by Solana Labs, responsible for the development of the Solana core; and the Solana Foundation, which is responsible for the community and the promotion of developers on the Solana network.
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