[Crypto projects](https://revain.org/projects/) › Solana

# Solana (SOL): how it works, supply and reviews

Layer 1 blockchain

## Key facts

- **Ticker**: SOL
- **Category**: Layer 1 blockchain
- **Network**: own blockchain
- **Official site**: [solana.com](https://solana.com/)
- **Whitepaper**: [solana.com/solana-whitepaper.pdf](https://solana.com/solana-whitepaper.pdf)
- **Source code**: [github.com/solana-labs/solana](https://github.com/solana-labs/solana)

Data: CoinGecko, 2026-10-27. Only projects that still trade with meaningful volume are listed.

## What is Solana

Solana is a public, high-performance blockchain for payments, tokens and decentralised applications. SOL is its native token, used to pay transaction fees and to stake with validators that secure the network.

## Network and consensus

| Parameter | Details |
|---|---|
| Type | Layer-1 blockchain with its own validator network |
| Consensus | Proof of Stake: SOL holders delegate stake to validators, combined with Proof of History as a clock |
| Proof of History | A sequence of proofs that data existed before a point in time, used to order events and time slots |
| Launched | Mainnet Beta started on 16 March 2020 |
| Smart contracts | Yes; on-chain programs run as sBPF bytecode and are usually written in Rust (Anchor, Pinocchio or native Rust) |
| Smallest unit | 1 lamport = 0.000000001 SOL |

## Supply and issuance

| Parameter | Details |
|---|---|
| Maximum supply | No fixed cap; new SOL is issued as staking rewards on a declining inflation schedule |
| Inflation | Started at 8% a year, falls by 15% each year, toward a long-term rate of 1.5% |
| Current inflation rate | About 3.58% a year in epoch 1069 (late October 2026), all paid to stakers and validators |
| Fee burn | Base fee is 5,000 lamports per signature; 50% of it is burned and 50% goes to the validator. Priority fees go fully to the validator |

On 28 October 2026: 589,874,439 SOL in circulation, 636,517,514 SOL in total (source: [Solana mainnet public RPC (getSupply), values converted from lamports](https://api.mainnet-beta.solana.com)).

## What SOL is used for

- Paying transaction fees on the network
- Staking: delegating SOL to validators to help secure the network and earn rewards
- Collateral posted by validators, who risk losing rewards and stake incentives if they misbehave

## Who develops and governs Solana

- **Founders**: Anatoly Yakovenko, author of the Solana whitepaper
- **Foundation**: Solana Foundation, whose stated mission is to make the protocol as censorship-resistant as possible
- **Developer**: Solana Labs developed the network up to Mainnet Beta; Anza maintains the Agave validator client
- **Open source**: Yes; the Agave validator client is published on GitHub

## History

| Date | Event |
|---|---|
| 16 March 2020 | Mainnet Beta launches from its genesis block. |
| 18 June 2020 | The network processes its one billionth transaction. |
| 2020 | By the end of 2020 the network has onboarded over 350 validators. |

## Security and audits

- Validators stake SOL as collateral, which gives them an economic incentive to behave honestly.
- Solana does not currently slash validators' stake as a penalty.

## Risks and caveats

- SOL has no maximum supply; new tokens are issued every epoch, so holders who do not stake are diluted.
- Staked SOL cannot be moved during the unstaking period, and rewards depend on the chosen validator's performance.

## Official links

- Website: [solana.com](https://solana.com/)
- Docs: [solana.com/docs](https://solana.com/docs)
- Whitepaper: [solana.com/solana-whitepaper.pdf](https://solana.com/solana-whitepaper.pdf)
- Source code: [github.com/anza-xyz/agave](https://github.com/anza-xyz/agave)
- Block explorer: [explorer.solana.com](https://explorer.solana.com/)
- Foundation: [solana.org](https://solana.org/)

## Questions and answers

**What is Solana?**

Solana is a high-performance public blockchain for payments, tokens and applications. SOL is its native token, used for fees and staking.

**Who created Solana?**

Solana was designed by Anatoly Yakovenko, who wrote its whitepaper, and was developed by Solana Labs; the Solana Foundation supports the network.

**What is the maximum supply of SOL?**

SOL has no fixed maximum supply. Inflation started at 8% a year and declines by 15% annually toward 1.5%; half of each base fee is burned.

**How does Solana reach consensus?**

Solana uses Proof of Stake, where SOL holders delegate stake to validators, together with Proof of History, a verifiable clock that orders transactions.

## Sources

- [CoinGecko — Solana](https://www.coingecko.com/en/coins/solana)
- [Solana — What is Solana?](https://solana.com/learn/what-is-solana)
- [Solana — What is Staking?](https://solana.com/learn/what-is-staking)
- [Solana Docs — Terminology](https://solana.com/docs/references/terminology)
- [Solana Docs — Fees](https://solana.com/docs/core/fees)
- [Solana Docs — Fee structure](https://solana.com/docs/core/fees/fee-structure)
- [Solana Docs — Programs](https://solana.com/docs/core/programs)
- [Solana whitepaper v0.8.13](https://solana.com/solana-whitepaper.pdf)
- [Solana Foundation — About](https://solana.org/about)
- [Solana — May Newsletter (2020)](https://solana.com/news/may-newsletter)
- [Solana — June Newsletter (2020)](https://solana.com/news/june-newsletter)
- [Solana — Year in Review 2020](https://solana.com/news/year-in-review-2020)
- [Agave validator client (GitHub)](https://github.com/anza-xyz/agave)

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Page updated: 2026-10-29

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Source: https://revain.org/projects/solana/