Solana (SOL) — overview
Solana (SOL) is a high-performance blockchain designed for fast confirmations and scalable apps. SOL is the native coin used to pay network fees and interact with applications across the Solana ecosystem. If you already have a wallet address, you can buy SOL and receive it directly to your wallet through a simple purchase flow. If you’re new to wallets and addresses, start here: Crypto wallets explained.
What is Solana (SOL)?
Solana is an open-source blockchain network built for high throughput and low-latency transactions. SOL is used to pay transaction fees (gas) and can also be used for staking in the network’s Proof-of-Stake system. In practical terms, when you buy Solana (SOL), you’re getting the coin that powers activity on the Solana network — from transfers between wallets to app interactions.
To get a clearer mental model of blockchain layers and how different networks fit together, see: Blockchain layers explained (L1, L2, L3).
How Solana works
Solana is known for its speed partly because it uses Proof of History (PoH) alongside Proof of Stake to coordinate and order events efficiently. For users, the most important takeaway is simple: SOL is required for network fees, and having a small amount of SOL in your wallet can help you cover transaction costs when you transfer funds or interact with apps.
If you want a buyer-friendly explanation of how networks, confirmations, and transaction details affect delivery, read: How to choose the right network for your crypto.
Why buy Solana (SOL)?
People buy SOL for different reasons: holding SOL as a digital asset, participating in the Solana ecosystem (apps, DeFi, NFTs), using SOL for transfers, or staking. Solana is often compared with other smart-contract platforms, so it helps to understand what you’re buying, what you plan to do with SOL after purchase, and how you’ll store it safely.
If you want a deeper comparison of platforms, see: Solana vs Cardano (SOL vs ADA).
For storage basics, see: Crypto wallets explained.
Solana use cases — what can you do with SOL?
SOL can be used to pay network fees, transfer value between wallets, and interact with apps in the Solana ecosystem. Many users buy SOL and store it in a personal wallet for greater control over their funds — if you’re choosing a wallet or learning address basics, start here: Crypto wallets explained.
