Traders on eToro receive free access to the latest crypto market research & news
Get the facts about trading Solana before you start. Discuss investment strategies, review market research, and get real-time updates
1,384,689 Solana positions opened on eToro
The SOL altcoin is the native token of Solana, a public blockchain protocol that provides developers with an efficient way to create decentralised applications. The company is currently based in malta, and was founded by Anatoly Yakovenko. Yakovenko published the white paper in 2017, Proof of History (PoH), which later became a fundamental element of the Solana network. SOL tokens launched in 2020, and can now be traded on exchanges as well as used within the network. The tokens can be split into fractions known as Lamports, and one Lamport is equal to 0.0000000000582 SOL. The SOL altcoin has two main uses within the Solana network. It can be used to pay fees for sending transactions or running smart contracts, but can also be used for staking, to help secure the network. Staking can earn users inflation rewards. SOL can also be traded on various cryptocurrency exchanges, although as a small market cap cryptocurrency, not every exchange will offer it. Track the value of SOL and other cryptocurrencies here on eToro.