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Solana is an open source, permissionless, public blockchain platform that includes smart contract functionality. The platform runs on a Proof of History consensus which vastly improves the scalability of the blockchain. Solana raised $12.6 million in their initial funding round in June 2018. It raised $20 million in funding in July 2019 from Distributed global, Kevin Rose, and others. The price went up by 500% once Solana went up on Binance. It is used as both a governance token and as a transaction token.