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Editorial reference

Solana SOL

Fresh · updated in last 10 min
Source · diadata · Sat, 01 Aug 2026 13:59:59 GMT
Price (USD)
$72.91
-0.37% 24h
24h volume
$235.4M

Overview

Solana is a high-throughput single-layer blockchain that launched its mainnet beta in March 2020. It targets low fees and sub-second confirmation using a parallel execution runtime, and SOL is used for fees, staking and on-chain rent.

Origin & history

Founded in 2017 by Anatoly Yakovenko, whose 2017 paper described Proof of History as a verifiable ordering mechanism. Solana Labs built the initial client; mainnet beta launched in March 2020 and the Solana Foundation now supports ecosystem development.

Founders & governance

Anatoly Yakovenko, Greg Fitzgerald, Raj Gokal and Stephen Akridge. Solana Labs develops core software and the Solana Foundation stewards grants and validator programs; independent teams maintain alternative clients.

How it works

Solana combines proof of stake with Proof of History, a cryptographic clock that orders transactions before consensus. The Sealevel runtime executes non-conflicting transactions in parallel, and validators vote on the leader schedule. Fees include a small base fee plus optional priority fees; localized fee markets limit congestion spillover.

Tokenomics & supply

SOL launched with an inflationary schedule that began around 8% annually and disinflates roughly 15% per year toward a long-run 1.5% terminal rate. Half of each base fee is burned. Circulating supply has grown from early investor, team and foundation allocations that vested over several years.

Utility & use cases

SOL pays transaction fees, is staked to validators for rewards, and covers account rent. The network is used heavily for consumer payments, decentralized exchanges, stablecoin transfers, NFTs and depin/consumer applications where low per-transaction cost matters.

Ecosystem

Validator clients include Agave (successor to the original Solana Labs client) and the independently built Firedancer from Jump Crypto. Notable ecosystem components include Jupiter, Raydium, Orca, Jito, Helium and Solana Mobile hardware.

Wallets & custody

Custody options include self-custody wallets (Phantom, Solflare, hardware wallets), delegated staking to validators, liquid staking tokens, and regulated custodians. Delegated stake remains under the holder's control but is subject to unstaking cooldown periods.

Regulatory notes

Solana has faced regulatory characterization disputes in the United States, where some agency filings have described SOL as a security — a claim contested and unresolved in the courts. Treatment elsewhere varies. Nothing on this page is legal, tax, or investment advice.

Milestones

  1. 2017
    Proof of History paper
    Yakovenko publishes the design behind Solana's cryptographic clock.
  2. 2020
    Mainnet beta
    Solana mainnet beta goes live in March.
  3. 2021
    Ecosystem expansion
    Rapid growth in DeFi and NFT activity; first major network outage in September.
  4. 2022
    Stability work
    QUIC, stake-weighted QoS and localized fee markets follow repeated outages; FTX collapse hits ecosystem funding.
  5. 2023
    Recovery and Firedancer
    Network stability improves and a second validator client enters testing.
  6. 2024
    Consumer scale
    Solana leads several networks in daily transaction and stablecoin transfer counts.

FAQs

What is Proof of History?
A verifiable delay function that timestamps and orders transactions before consensus, letting validators agree on sequence with less communication.
Why has Solana had outages?
Several outages between 2021 and 2022 stemmed from resource exhaustion and consensus bugs under load; later releases added fee markets, QUIC transport and stake-weighted quality of service.
Is SOL supply capped?
No. Issuance disinflates toward a 1.5% annual terminal rate, partially offset by fee burning.
What is Firedancer?
An independent validator client built by Jump Crypto, intended to add client diversity and higher throughput.

Official links

Primary sources

This page is editorial reference material. Nothing on this page is investment, legal, or tax advice. Last reviewed 8/1/2026.