Slots give transactions an order
Solana uses proof of stake and a cryptographic clock commonly called Proof of History. A scheduled leader proposes transactions for a slot; other validators check the result. Fast slots reduce waiting time, but a submitted transaction can still expire, fail or lose priority.
Programs change account data
Solana programs contain executable logic. Accounts hold balances and state. A token is managed by a token program, while a swap instruction touches the trader’s accounts, the pool and the exchange program. Transactions that try to write to the same busy accounts can compete for execution.
SOL pays for execution
A transaction pays a base network fee. Traders can add a priority fee, and some routes add a validator tip, to improve ordering during congestion. Paying more can improve priority; it cannot guarantee the quoted price or make a bad instruction valid.
Bonding curves and liquidity pools set prices
Some launches begin on a bonding curve, where price changes as supply moves through a formula. Mature tokens commonly trade in automated market-maker pools. In either case, the next fill depends on available inventory and the size of the order, not only the last candle.
A click is not a fill
Slippage can exceed your limit, a blockhash can expire, account state can change, the token can have no usable route or the network can reject the transaction. A paper simulator should record those costs and failure conditions instead of turning every click into a perfect trade.
Learn how memecoin liquidity works or review the wallet security checklist.
Primary reference: Solana’s official core-concepts documentation. Check the official docs before relying on current fee or network behaviour.