Where it differs from Ethereum is in its approach to blockchain protocols. Solana uses a hybrid proof of history (PoH) and proof of stake (PoS) consensus algorithm that combines speed and efficiency. The network can process more than 50,000 transactions per second and has already attracted several large institutional investors. Solana’s creators believe the platform will solve the scalability problems common in crypto.

What is SOL used for?

SOL is the native utility token on Solana’s network. It’s used to pay validator nodes for securing the network and processing transactions. SOL holders can also stake the token to earn staking rewards.

How do I buy SOL?

It’s easy to buy Solana in Australia by joining a trusted trading platform like Coinstash. Simply create your account and verify your personal details. Then, deposit some funds and purchase SOL. It’s as simple as that!

Learn how to sell Solana.

Why should I trade Solana with Coinstash?

Coinstash AU is one of the highest-rated crypto platforms in Australia. Since 2017, we’ve been a one-stop crypto solution for thousands of customers.

People love our great customer support, easy-to-use interface, industry-leading security, and other innovative features. We’re also an AUSTRAC registered exchange and have an AFSL license so that you can trade with confidence.

Ready to start trading Solana (SOL)? Create your Coinstash account in minutes!