SOLANA (SOL)

Solana is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality.
Its native cryptocurrency is SOL. Solana was launched in 2020 by Solana Labs, which was founded by Anatoly Yakovenko and Raj Gokal in 2018.
The blockchain has experienced several major outages, was subjected to a hack, and a class action lawsuit was filed alleging that Solana sells unregistered securities, and misled investors about the number of tokens.
The SEC has also filed a lawsuit against a cryptocurrency exchange alleging that Solana should be regulated as a security. Solana's total market cap was US$55 billion in January 2022.
However, by the end of 2022, this had fallen to around $3 billion following the bankruptcy of FTX. [+]