Solana is a blockchain with striking resemblances to Ethereum—in fact, it’s frequently referred to as an “Ethereum killer.” Like Ethereum, the SOL token can be bought on most major exchanges. The token’s actual value is in conducting transactions on the Solana network, which has rare advantages.

By using a unique blend of proof of history and delegated proof of stake, Solana offers exponentially faster transaction speeds than its closest competitors, Ethereum and Cardano (ADA), at a fraction of the cost, Anissimov says by using a unique blend of proof of history and delegated proof of stake.