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1Sol (SOL) is a cryptocurrency developed to operate as a medium of exchange on the 1Sol blockchain. The project was launched in 2019 by the 1Sol Foundation, a non-profit organization based in the United States, with the goal of developing a digital asset that could be used for global financial transactions. The 1Sol blockchain is powered by a native token, known as SOL, which is used to incentivize network participants and enable secure, trustless exchanges of value. The 1Sol network is based on a Proof-of-Stake (POS) consensus algorithm, which is designed to be energy efficient and secure.
The 1Sol Foundation aims to promote the adoption of 1Sol as a medium of exchange, and to facilitate the development of applications and services that make use of the 1Sol blockchain. The Foundation works closely with third-party ecosystem players to ensure the success of the project, and has established partnerships with a number of organizations, including the Ethereum Foundation, Stellar Foundation, and the Bitcoin Foundation. The Foundation also runs the 1Sol Exchange, a decentralized exchange platform that allows users to trade 1Sol tokens and other digital assets.