Solana (SOL) was launched in 2020 by the Solana Foundation which is based in Geneva. This foundation develops the blockchain-based Solana protocol, which aims to offer developers the development of decentralized apps (dApps) on its blockchain. The Solana protocol is open source and decentralized, with the consensus for this created by the cooperation’s Proof of Stake and Proof of History mechanism’s. This interplay of these two processes, also enables Solana's efficient mining mechanism as well as its particularly good scalability. Like various other blockchains, the Solana protocol can interact with smart contracts.