SOL is the native cryptocurrency of the Solana blockchain.
Solana is a high-performance blockchain that supports developers and businesses who want to build decentralized apps (DApps). It’s designed to facilitate fast, secure, scalable, and globally accessible applications and crypto ecosystems.
The SOL token is used for transaction fees and for staking on the Solana network. Staking involves users participating in the network’s proof of stake consensus mechanism, which helps secure the network, and in return, stakers can earn rewards.