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Solana Ecosystem

Ecosystem Coin

SOL

$ 122.40

5.79%

Solana is a high-performance layer1 blockchain that achieves scalability through parallel processing. Read more

Market Cap

Projects

Ecosystem Backers

Projects

  • Category

Solana

Solana

Solana is a high-performance layer1 blockchain that achieves scalability through parallel processing.

Tether

Tether

USDT is a fiat-collateralized stablecoin pegged to the US Dollar issued by TetherUS.

ChainLink

ChainLink

ChainLink is a decentralized oracle network.

Pyth Network

Pyth Network

Pyth Network is a blockchain oracle for market data.

USDC

USDC

USDC is a fully collateralized, US dollar stablecoin backed by Circle and Coinbase exchange.

Jupiter

Jupiter

Jupiter Exchange is a DEX Aggregator and Perpetual Exchange on Solana.

Bonk

Bonk

BONK is a meme coin launched on Solana in December 2022, distributed to build community and liquidity within the ecosystem.

Lido

Lido

Lido is the most popular decentralized liquid staking solution on Ethereum Virtual Machine.

dogwifhat

dogwifhat

WIF is the most famous and capitalised Solana-native meme token.

Arweave

Arweave

Arweave (AR) is a storage platform based on the Proof of Access protocol, that creates a permanent scalable data warehouse.

Helium

Helium

Helium is a decentralized infrastructure that allows to deploy and operate wireless networks through token incentivization.

Parcl

Parcl

Parcl is a RWA-focused decentralized exchange for trading real estate derivatives.

Jito Labs

Jito Labs

Jito is the liquid staking service for Solana that distributes MEV rewards to holders.

Grass

Grass

Grass, the flagship product of Wynd Network, revolutionizes internet connectivity by enabling users to monetize their unused network resources.

Raydium

Raydium

Raydium is an automated market maker (AMM) on Solana.

Popcat

Popcat

POPCAT is a meme token running on the Solana blockchain inspired by viral meme of Oatmeal cat who "pops".

Renzo

Renzo

Renzo is a restaking protocol built on the EigenLayer framework.

BOOK OF MEME

BOOK OF MEME

BOME is a meme token launched via presale model on Solana.

Dojo Protocol

Dojo Protocol

Dojo Protocol is a blockchain network designed specifically for AI data monetization and GPU training.

STEPN

STEPN

STEPN is a Move-to-Earn health and fitness application.

OFFICIAL TRUMP

OFFICIAL TRUMP

Trump is the official Donald Trump meme token.

Drift Protocol

Drift Protocol

Drift Protocol brings on-chain, cross-margined perpetual futures to Solana.

Zebec Network

Zebec Network

Zebec's integrated products - real time payroll apps, on-chain payments infrastructure and networked DePIN.

Neon

Neon

Neon is a fully Ethereum-compatible environment on Solana.

Eclipse

Eclipse

Eclipse is a Ethereum's Layer2 blockchain powered by Solana Virtual Machine.

Star Atlas

Star Atlas

Star Atlas is a gaming metaverse where users can create, play, & learn with others globally.

Audius

Audius

Audius is a decentralized music-sharing and streaming protocol.

Band Protocol

Band Protocol

Band Protocol is a data management protocol.

cat in a dogs world

cat in a dogs world

MEW is a cat meme token running on Solana blockchain.

Myro

Myro

$MYRO is a meme-token based on Solana Co-Founder Raj Gokal’s dog.

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What is Solana Ecosystem?

Solana is a scalable, decentralized, and programmable blockchain. It facilitates transactions of its native SOL coin as well as digital assets like non-fungible tokens (NFTs), as well as SPL tokens. Solana’s founder, Anatoly Yakovenko, created the project in 2017 intending to increase the scalability of a cryptocurrency blockchain without sacrificing decentralization or security.

What are SOL key features and how does it work?

One of the biggest competitive advantages of Solana is its relatively high transaction speed. The blockchain can support up to 50,000 transactions per second without sharding. Solana achieves this via its proof of stake consensus mechanism along with timestamped transactions, known as Proof of History. This essentially means that it creates a historical record that proves that an event, i.e transaction, has occurred at a specific moment in time. Solana is the first network to try this Proof of History model.

Proof of History is designed to keep the time between computers running on a decentralized network without the need for all computers to communicate about it and reach an agreement. It keeps all records of transactions in an open ledger which is accessible by every block on the network. This maximizes efficiency by allowing transactions to be processed more quickly and allows for greater scalability on the blockchain. Thus, Solana remains secure, scalable, and decentralized without the necessity for any layer 2 solutions like Ethereum’s rollups and sidechains or Bitcoin’s lightning network.

Proof of History is used in combination with Proof of Stake which is designed for quick validation of the current sequence of transactions produced by the PoH generator. The computers that process transactions and secure the network are called validators. Participants can stake their own SOL to become a validator, or delegate tokens to validators, in exchange for a chance of earning more SOL and a percentage of transaction fees.

Solana’s choice of consensus has caused controversy in the crypto space, with some skeptical of its mechanics. In a PoW system, to counteract the possibility of two blocks being validated at the same time, transitions are slow, and the algorithm essentially acts as a clock. PoS, however, does not have a reliable source of time, and it is difficult to know the order of blocks as they arrive. PoH’s architecture enables transactions to be ordered as they enter the network, known as entries, rather than by block as seen on traditional blockchains. Thus solving the problem of agreeing on time, whilst also providing almost instant finality for the thousands of transactions it receives per second.

SOL also serves as a governance token. This means that holders can vote on future upgrades and governance proposals submitted by the Solana community.

What can Solana be used for?

Like Ethereum, Solana is a programmable platform that can interact with smart contracts. Smart contracts power a wide range of applications, from DeFi and NFT markets to decentralized lotteries and games. 

Solana, unlike Ethereum and other EVM-compatible chains that run smart contracts on Solidity, uses Rust as a programming language. Rust is still a relatively young language, but in terms of tooling support, it is years ahead of Solidity. It can be used for fast, low-resource, cross-platform solutions and the language itself has many features that make writing Rust code both more ergonomic and easier to use than Solidity.

As of August 2021, many of the most popular applications running on Solana are DEXs and lending apps, and the crypto app ecosystem on Solana supports billions of dollars worth in TVL (Total Value Locked). One of the main reasons that users might prefer an app running on Solana over the comparable Ethereum, for example, is that speeds are high and congestion is low, thus resulting in significantly lower fees.

Serum is an example of a high-speed, non-custodial DEX built on Solana created by the Serum Foundation, founded by FTX, Alameda Research, and a consortium of other partners. The DEX runs on a fully on-chain central limit order book. The exchange hopes to solve current DeFi problems such as high gas costs, slow transactions, and centralization.

Where can you buy SOL?

SOL tokens are available on all of the CEXs and DEXs listed on the market tab.

One of the most popular choices is Binance, it has the highest SOL/USDT trading volume. OKEx and other popular exchanges also list SOL.