# Solana (SOL)

By [PreciousDev](https://paragraph.com/@preciousdev) · 2022-08-14

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Solana is a blockchain platform designed to host decentralized , scalable applications. Founded in 2017, Solana is an open-source project currently run by Solana Foundation based in Geneva, while the blockchain was built by San Francisco-based Solana Labs.1 Solana is much faster in terms of the number of transactions it can process and has significantly lower transaction fees compared to rival blockchains like Ethereum

![](https://storage.googleapis.com/papyrus_images/399aa3ccb5203eacba4205fa98e502f2a477b0c3c9d7494fbf43519cbfdb1c0e.jpg)

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*Originally published on [PreciousDev](https://paragraph.com/@preciousdev/solana-sol)*