is a blockchain platform which uses a proof-of-stake mechanism to provide smart contract functionality.
Its native cryptocurrency is SOL.
was launched in 2020 by
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 against the platform.
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. [+]