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Definition: Solana


A smart contracts blockchain similar to Ethereum. Launched in 2018, Solana is noted for its fast transaction processing. By 2021 with over a thousand validators, Solana processed more than 35 billion transactions. The SOL is the native token, and Solana Beach is a block explorer that shows Solana activity in real time. In 2021, several NFT projects on Solana were found to be scams with the developers disappearing after they collected funds. See crypto glossary.