What is Solana (SOL)

Evelyn Zhang
2 min readJul 8, 2022

The native token of Solana is called Solana (SOL/USDT — Trade it here). A permissionless blockchain open-source project called Solana is funded by the Solana Foundation, a Geneva, Switzerland-based organization. Its main goal is to make software less of a performance bottleneck and to let network bandwidth determine how much transactions may grow.

Solana Ecosystem

Solana is an open source blockchain protocol that uses a unique combination of proof of history and proof of stake mechanisms to achieve scalability. Trade SOL with MEXC Global.With Bitcoin’s verifiable delay implementation, Solana is able to implement optimistic concurrency control and is on track to reach the theoretical limit of 710,000 transactions per second.

Numerous DeFi, NFT, and Web3 Projects are housed in Solana. The most well-known DeFi projects include Serum, Orca, and Saber. A variety of NFT marketplaces, including Metaplex, Solanart, and Solanalysis, are available in Solana( Trade it here). Solona takes pleasure in supporting development efforts from seasoned programmers as well as newcomers, as evidenced by the most recent introduction of Web3 projects like Audius and Grape Protocol.

Core Features of Solana

  • Scale for global adoption. Solana ensures composability between ecosystem projects by maintaining a single global state as the network scales.
  • Low Cost. Solana ensures transactions remain less than $0.01 for both developers and users by speeding up transactions.
  • Speed. Solana( Trade it here) is all about speed, with 400 millisecond block times. And as hardware gets faster, so does the network.
  • Decentralized and Secure. The Solana Network is spread over thousands of independent validator nodes.

SOL use cases

The native token of Solana is called SOL, and it is most frequently used in governance mechanisms such as transmitting data across nodes in a Solana cluster to run on-chain programs and/or validate results. Lamports, or fractional SOL payments, can be processed by Solana as micropayments. The value of a lamport is 0.000000001 SOL.

How to buy SOLANA (SOL)?

You can buy SOL on MEXC following the steps:

1. Log in to your MEXC account and click [Trade]. Click on [Spot].

2. Search “SOL” using the search bar to see the available trading pairs. Take SOL/USDT as an example.

3. Scroll down and go to the [Spot] box. Enter the amount of SOL(Trade it here) you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy SOL] to confirm your order. You will find the purchased SOL in your Spot Wallet.

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