|Original author(s)||Anatoly Yakovenko, Greg Fitzgerald, Stephen Akridge, Raj Gokal|
|Developer(s)||Solana Labs & Solana Foundation|
|Source model||Open source|
|Ledger start||March 16, 2020|
|Block time||400 milliseconds|
|Circulating supply||335,188,037.37 SOL (as of 7 May 2022)|
|Exchange rate||US$81 (as of 7 May 2022)|
|Market cap||$27B (as of 7 May 2022)|
Solana is a public blockchain platform with smart contract functionality. Its native cryptocurrency is SOL.
Solana was proposed in a white paper Anatoly Yakovenko which was published in November of 2017. This paper described a technique called "proof of history".[non-primary source needed]
On 16 March 2020, Solana's first block was created.
In September 2021, Bloomberg journalist Joanna Ossinger described Solana as "a potential long-term rival for Ethereum", citing superior transaction speeds and lower associated costs.
On 14 September 2021, the Solana blockchain went offline after a surge of transactions caused the network to fork, and different validators had different views on the state of the network. The network was brought back online the next day on 15 September 2021.
On 16 December 2021, the former First Lady of the United States Melania Trump announced her plans to use Solana to launch a non-fungible token (NFT). The Solana Foundation issued a press release to clarify that her choice of the platform was not officially "part of any Solana-led initiative."
Solana achieves consensus using a proof-of-stake mechanism and a "proof-of-history" mechanism.[further explanation needed]
Like various other blockchains, Solana can run smart contracts. Solana's execution environment is based on eBPF, which allows the Rust, C, and C++ programming languages to be used.[third-party source needed]
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Meanwhile a Solana representative said that 'to avoid any confusion... her [Melania Trump] choice to use the Solana blockchain was completely organic and this project is not part of any Solana-led initiative.'