Purpose: Solana is a high-performance blockchain platform designed for decentralized apps and crypto projects, aiming to provide fast and low-cost transactions.
Features:
Proof of History (PoH): Solana uses PoH in combination with PoS to achieve high throughput and low transaction fees.
Scalability: Solana can process thousands of transactions per second (TPS).
Use Cases: DeFi, NFTs, and building decentralized applications with high-speed transaction needs.
Status: Solana has become a major competitor to Ethereum due to its fast transaction speeds and low fees.