'What are the uses of the SOL token within the Solana network?'

Understanding the Utility of SOL Token on the Solana Network

The SOL token is the native cryptocurrency of the Solana blockchain, a high-performance, permissionless network that leverages a unique architecture to deliver fast and secure services. This cryptocurrency is not just a medium of exchange or a store of value. It plays several integral roles within the Solana ecosystem, contributing significantly to the functionality, security, and governance of the network.

Transaction Fees on Solana Network

One of the key utilities of the SOL token is to cater for transaction fees within the Solana network. This application of SOL ensures smooth and efficient transactions, providing the necessary compensation for validators who maintain the network