What is Solana?
A fast, low-cost blockchain popular for tokens, NFTs, and memecoins.
Solana is a blockchain known for being fast and cheap — transactions settle in under a second for fractions of a penny, versus Ethereum's slower and pricier fees. That speed made it a hub for memecoins and everyday crypto trading.
You hold Solana's native coin (SOL) in a wallet like Phantom, and use it to pay tiny transaction fees and to swap for other tokens.
$BUSINESS lives on Solana, which is why buying it involves getting some SOL first and swapping through a decentralized exchange.
Related terms
Definitions from the Business Dog Glossary — educational, occasionally satirical, never financial advice.