SOL Quick Links
Solana
Solana is a blockchain platform that is designed to host scalable decentralized applications. The open-source project was founded in 2017 by the Solana Foundation in Geneva, and the blockchain was built by Solana Labs which is located in San Francisco. Solana is a Proof of Stake (PoS) blockchain that also uses hashed timestamps to verify transactions, called Proof of History (PoH). Unlike Bitcoin and Ethereum which do not utilize clocks, Solana utilizes a clock to simplify network synchronization which results in exceptionally fast transaction speeds. Its architecture is designed to support 710,000 transactions per second (TPS) and achieving that speed is only limited by network capability and infrastructure. Solana’s token can be found on most exchanges under the ticker symbol SOL.
How does Solana work?
At its core, Solana’s high throughput is achieved by its unique consensus mechanism called Proof of History (PoH). PoH orders transactions by utilising cryptographic timestamps, enabling a secure and efficient consensus. It arranges events in a linear, verifiable sequence, ensuring accuracy without using intense computational resources. Nodes prove the passage of time by solving complex puzzles, which creates a historical record. This method establishes an order for transactions, reducing the need for energy-intensive calculations, enhancing scalability, and securing the network against manipulation, allowing for faster and more reliable consensus.
PoH’s unique methodology enhances the efficiency, scalability, and security of blockchain networks. It significantly reduces the computational workload required for reaching consensus, thereby improving scalability. By accurately ordering events through timestamps, PoH ensures a reliable and tamper-proof historical record, enhancing security against potential manipulation or fraud.
Source: SOLANIANS. Solana Ecosystem
Rapid Expansion
The Solana ecosystem is experiencing rapid growth and development consisting of more than 600 projects (some have tokens and some do not). Core ecosystem categories include Wallet, Defi, Infrastructure, Oracle, Application, Gaming, NFT, and Tooling & Explorer. There are more than 2,500 active developers building on Solana and the blockchain had 40.7M average daily user transactions (Q4, 2023).
Check out Solana’s latest ecosystem development report (8 January 2024).
Solana Policy Institute’s Kristin Smith warns crypto rules may be hard to undo
The entrenchment of crypto regulations could solidify existing frameworks, impacting innovation and adaptability in the digital asset space. Solana Policy Institute's Kristin Smith warns crypto rules may be hard to undo.
Pando Finance’s Solana ETF set to debut on HKEX October 13
The launch of Pando Finance's Solana ETF on HKEX could enhance institutional access to crypto, influencing market dynamics and competition. Pando Finance's Solana ETF set to debut on HKEX October 13.
Pando Finance to launch Solana ETF on HKEX October 13
The launch of Pando Finance's Solana ETF on HKEX could boost Solana's market perception, potentially driving increased investor interest. Pando Finance to launch Solana ETF on HKEX October 13.
Solana ETFs End a 14-Week Buying Streak With Their Largest Weekly Exit
US spot Solana (SOL) exchange-traded funds (ETFs) lost $24.8 million in the week ending October 9. It was their largest weekly outflow since launch in October 2025 and ended 14 straight inflow weeks.
Hong Kong Plans Second Spot Solana ETF Listing on Oct. 13
Pando Solana ETF, trading under 2831.HK, is scheduled to list on the Hong Kong Stock Exchange as regulated access to SOL expands in Asia.
Solana Spot ETFs Post $24.81 Million Weekly Net Outflow
The products held $1.73 billion in net assets, with cumulative inflows reaching $1.58 billion through the latest data snapshot.
This 11-minute video (10 Jan 2024) provides an excellent summary of the top 7 Solana wallets, including their unique features, advantages, and drawbacks. Direct links to 5 of the most popular wallets can be found below.
There are many videos that cover the Defi aspects of Solana’s ecosystem, and thousands of videos covering individual projects. This 12-minute video provides a good starting point for those who are starting to explore this exciting part of Solana’s growing ecosystem.
You can also use the below link to search Defi projects directly on Solana’s main site.
NFTs on Solana
Emerging Use Cases
Non-fungible Tokens (NFTs) have been one of the most popular aspects of blockchain technology. New capabilities and use cases are being discovered as more and more people (and traditional sectors) explore the world of authenticated digital assets. There are two excellent articles worth your time as they describe the world of NFTs on Solana and how that aspect of the blockchain is developing and advancing:
