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Solana is a high-performance, open-source blockchain designed to support decentralized applications (dApps) and smart contracts. It is renowned for its high speed (processing thousands of transactions per second) and low fees. Solana employs a hybrid consensus mechanism combining Proof of History (PoH) and Proof of Stake (PoS), which enhances its scalability. The network’s native token, SOL, is used for transaction fees and staking. Competing with Ethereum and other blockchains, Solana has gained significant popularity among developers and users.
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