Solana is a powerful open-source project that offers DeFi (decentralized financial infrastructure) solutions by leveraging the permissionless nature of blockchain technology. The Solana Foundation, based in Geneva, Switzerland, began conceptualizing and working on Solana in 2017 and officially launched in March 2020. The Solana protocol makes it easier to develop decentralized applications (DApps). To increase scalability, a proof-of-history (PoH) consensus is introduced and layered on top of the blockchain's underlying proof-of-stake (PoS) consensus. The Solana Foundation has devoted a lot of resources to spreading the use of decentralized financial systems.