Solana (Symbol: Sol) is a decentralized blockchain platform that is open source and accessible. A combination of sharing proof and prior proof was used to provide it.Bloomberg described it as “a potential long-term competitor to Ethereum.” Solana, like Ethereum, has the ability to communicate with smart contracts.
For reasons like the belief that blockchain will be relatively easy to use when handled by a large number of computers, mining efficiency, and scalability, the Solana platform has grown in popularity. Many people believe this will be a good DeFi platform because of the anticipated scalability. Solana’s scalability capability, which can comfortably do 50,000 operations per second, outperforms its key competitors.