$SOL coin is the native cryptocurrency of the Solana blockchain.
In simple terms, SOL is used to power the Solana network. It helps process transactions quickly and with very low fees compared to many other blockchains.
What SOL coin is used for:
Paying transaction fees on the Solana network
Running smart contracts and decentralized applications (dApps)
Staking to help secure the network and earn rewards
Buying and selling NFTs and using DeFi platforms
The main idea behind SOL is speed and scalability. Solana can handle thousands of transactions per second, making it suitable for modern digital applications.
In short, SOL coin is the fuel of the Solana ecosystem, designed for fast, low-cost, and efficient blockchain transactions.