# Solana (blockchain platform)


By [Megan](https://paragraph.com/@megan-19) · 2024-01-17

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From Wikipedia, the free encyclopedia

**Solana**DenominationsCodeSOLDevelopment[White paper](https://en.wikipedia.org/wiki/White_paper)[Solana: A new architecture for a high performance blockchain](https://solana.com/solana-whitepaper.pdf)[Code repository](https://en.wikipedia.org/wiki/Repository_\(version_control\))[https://github.com/solana-labs/solana](https://github.com/solana-labs/solana)[Developer(s)](https://en.wikipedia.org/wiki/Software_developer)Solana Labs & Solana Foundation[License](https://en.wikipedia.org/wiki/Software_license)[Apache 2.0](https://en.wikipedia.org/wiki/Apache_2.0)[\[1\]](https://en.wikipedia.org/wiki/Solana_\(blockchain_platform\)#cite_note-1)LedgerBlock explorer[https://explorer.solana.com/](https://explorer.solana.com/)WebsiteWebsite[Official website](https://solana.com/)

**Solana** is a [blockchain](https://en.wikipedia.org/wiki/Blockchain) platform which uses a [proof-of-stake](https://en.wikipedia.org/wiki/Proof-of-stake) mechanism to provide [smart contract](https://en.wikipedia.org/wiki/Smart_contract) functionality. Its native [cryptocurrency](https://en.wikipedia.org/wiki/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](https://en.wikipedia.org/wiki/Class_action) was filed against the platform.

Solana's total [market cap](https://en.wikipedia.org/wiki/Market_capitalization#Cryptocurrencies) 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](https://en.wikipedia.org/wiki/Bankruptcy_of_FTX). Following the general rise of the cryptocurrency market in 2023, its market cap rose to $7 billion.

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*Originally published on [Megan](https://paragraph.com/@megan-19/solana-blockchain-platform)*