Baskin Logic Crypto Academy

Topic · Networks

What is Solana? How it works (no price talk)

By Joshua Baskin, founder · Reviewed · Sources

How Solana processes a transactionProof of History orders events like a clock. Validators stake SOL and vote. Programs (smart contracts) run. Fees are paid in SOL.1Proof of History orders eventslike a clock2Validators stake SOL and vote3Programs (smart contracts) run4Fees are paid in SOL
How Solana processes a transaction

The short lesson

Solana is a smart-contract blockchain designed for many fast, low-fee transactions. Its native coin is SOL, used to pay fees and to stake with validators.

  • Proof of History: a cryptographic clock that orders events, helping validators agree quickly.
  • Slots: target time per slot is a fraction of a second.
  • Accounts and programs: smart contracts are called programs; tokens follow the SPL token standard (not ERC-20).

We never show prices, forecasts or picks. This page explains what the network is and how it works.

Trade-offs

Speed comes from demanding hardware for validators, which some say limits who can run one. The network has had several outages in its history; check status.solana.com. Wallet drainers and fake token approvals exist on Solana too, so read what you sign.

Lesson game · earn XP

Check yourself: 3 quick questions

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Common questions

Can I send SOL to an Ethereum address?

No. Different networks and address formats. Check the network every time.

What is an SPL token?

The token standard on Solana, similar in idea to ERC-20 on Ethereum.

Sources

  1. Solana documentation
  2. Solana network status
  3. FTC: crypto scams

Sources checked October 23, 2026. Rules change; check the official source before acting.

Education only. Not investment, tax or legal advice. We do not pick coins.