Solana is an innovative open source project that takes advantage of blockchain's permissionless nature to offer decentralized finance (DeFi) solutions. While its initial development began in 2017, Solana officially made its debut by being officially released by its Foundation with offices located in Geneva, Switzerland in March 2020.
To gain more insight into this project, check out our in-depth exploration of Solana.
Solana protocol aims to facilitate decentralized app (DApp) creation by providing an easier scalability solution through proof-of-history (PoH) consensus combined with blockchain's existing proof-of-stake (PoS) consensus mechanism.
Solana stands out due to its innovative hybrid consensus model, drawing in both small-time traders and institutional traders alike. A key goal of the Solana Foundation is making decentralized finance accessible on a wider scale.
