Word of the Day | SOL

Word of the Day | SOL

SOL is the currency (gas) that keeps the Solana blockchain running smoothly.

• Paying tolls: Just like cars need gas, transactions on Solana require a small amount of SOL. This helps cover the costs of running the network.
• Security guards: People who hold SOL can stake it, which is like becoming a security guard for the highway. They help verify transactions and keep the network secure and in return they earn rewards in SOL.
• Voting rights: Similar to MATIC, SOL holders have a say in how Solana develops. They can vote on proposals to improve the network.

So, Solana is a high-speed blockchain and SOL is the fuel (gas) that powers it and incentivizes people to keep it running securely and efficiently.

https://www.dbm.academy/faq for more blockchain vocabulary.