Solana, launched in 2020 by the Solana Foundation in Geneva, is a pioneering open-source blockchain that facilitates decentralized finance (DeFi) through its layer 1 network. Known for its exceptional speed and low transaction costs, Solana supports a wide range of DeFi applications and digital assets. Its development, initiated in 2017, leverages blockchain's permissionless nature to offer scalable and secure DeFi solutions, establishing Solana as a key player in the blockchain ecosystem.