Solana, launched in 2020, is a blockchain designed to be faster and cheaper than Bitcoin and Ethereum, processing over 1,000 transactions per second at minimal fees. Its architecture leverages 'proof-of-history,' allowing validators to timestamp transactions efficiently. This decentralized ledger technology aims to unify capital markets within a global system, despite current use cases being dominated by memecoins. Notably, Solana faced challenges with outages and reputational damage following the collapse of FTX, yet it has shown resilience with significant price recoveries. The blockchain's proponents argue that its low costs and high speed could enable a new financial system where various assets, including stocks and bonds, could be traded seamlessly. However, the technology's future relies on overcoming existing software limitations and enhancing client diversity to prevent future operational failures.

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