Solana, a cryptocurrency that began its journey with relatively little popularity in April 2020, has recently upset its investors somewhat. Its price has gone from roughly $1.50 in January 2021 to just over $234 at the time of writing. Which naturally made it the sixth largest cryptocurrency in the world with a market capitalization of $ 61 billion. So what is Solana? Continue reading! What is Solana? Solana is a blockchain platform for decentralized applications. It is an open source project maintained by the Geneva-based Solana Foundation and built by developers at San Francisco-based Solana Labs. Solana is a competitor to Ethereum, which is currently the largest decentralized application platform, promising faster processing and lower transaction fees. It is a PoS (proof of stake: proof of stake) blockchain that makes it more environmentally friendly than PoW (proof of work: proof of work) blockchains such as Bitcoin. The local cryptocurrency is called Solana and has the code SOL.