Solana

Solana is an open source project implementing a new, high-performance, permissionless blockchain. Solana is a general purpose blockchain similar to Ethereum. End user applications as of now include decentralized finance (DeFi), non-fungible tokens (NFT), marketplaces, games, and more. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.

Solana co-founder Anatoly Yakovenko published a whitepaper describing Proof of History, a technique that would become critical to Solana's blockchain infrastructure, in Nov. 2017. 

Co-founder Greg Fitzgerald, who had worked with Yakovenko at Qualcomm, began prototyping the open source implementation of the whitepaper. It was published under the name Silk in 2018. 

After starting the company under the name Loom, Yakovenko, Fitzgerald, and other co-founders rebranded to Solana. Solana launched on Mainnet Beta in March 2020.

Solana was built to facilitate the development of scalable, user-friendly decentralized apps with low costs and high speeds for transactions.

Solana believes its unique blockchain architecture that combines the proof-of-stake consensus mechanism and its own proof of history mechanism is the key to achieving these goals.

Proof of history works almost like a cryptographic timestamp that proves that an event has occurred at a specific time. It enables the blockchain to work fast while maintaining security and decentralization.

There are about 304 million SOL in circulation as of November 2021. Solana has an initial inflation rate of 8%, which will decrease by 15% a year until it reaches a long-term inflation rate of 1.5%. SOL is Solana’s native token.

Solana competes with other blockchain platforms such as Ethereum and Avalanche to host crypto projects such as NFTs, decentralized exchanges, and gaming. 

Developers and users flocked from Ethereum to Solana due to high transaction costs, but many could gravitate back towards Ethereum if it manages to lower costs, which could happen as a result of the Ethereum 2.0 upgrade and layer 2 rollups. 

Solana.com
Docs.solana.com/history
Forums.solana.com

Former Goldman Sachs executive Raoul Pal says one particular Ethereum (ETH) rival is likely to outshine the rest of the crypto markets next bull cycle.

One Ethereum Competitor Has Very High Chance of Leading Next Bull Cycle, According to Macro Guru Raoul Pal

Crypto analytics platform Santiment says many are bearish on Solana (SOL), Tron (TRX) and Binance Coin (BNB), which might signal a bottom is near. According to Santiment, heavy bearish sentiment is sometimes a signal for an imminent upswing in price.

Sentiment Heavily Bearish on Solana, Tron and One More Ethereum Rival, Says Analytics Firm – But There's a Catch

Anatoly Yakovenko shared what he believes will finally solve Solana's biggest problem.

Solana Co-Founder Says 'Long-Term Fix' to Network Outages Is in the Works

Solana has had a year of amazing growth—but also multiple network outages. Co-founder Anatoly Yakovenko joined Dan Roberts and Stacy Elliott on the gm podcast to talk about the outages, what's next for Solana at its upcoming Breakpoint event, how it competes with Ethereum, how long he expects the bear market to last, what's happening with NFTs on Solana, and much more.

gm: All Things Solana With Anatoly Yakovenko

The Solana Foundation provided key details on what caused the Solana blockchain's most recent downtime. The post Solana's latest downtime caused by code bug and malfunctioning node appeared first on The Block.

Solana's latest downtime caused by code bug and malfunctioning node

The Solana co-founder joins Decrypt's gm podcast to talk crypto winter vibes and the value of Solana's Breakpoint conference.

Fed-Fueled Crypto Bear Market Could Last 12-18 More Months: Solana Co-Founder

Uniswap

Uniswap moved closer to its highest point since late August on Thursday, as the token extended recent gains. Today's surge is the fourth consecutive day that prices have climbed, leading the token to break out of a key resistance level in the process.

Biggest Movers: UNI Closes in on 5-Week High, While SOL Also Climbs

Ethereum

Solana NFT sales volume nearly doubled last month as the wider market remains largely flat—down roughly 82% from January highs.

NFT Monthly Sales Top $947M as Solana Gains Ground on Ethereum

A closely followed crypto analyst says that Ethereum (ETH) rival Solana (SOL) could be on its way to bringing a billion more users to the digital asset space.

Despite Outages, Solana (SOL) Still Has Power To Bring 1,000,000,000 More People to Crypto: InvestAnswers

The blockchain is back online after a restart, but it's yet another blow to the credibility of a network that has been described as an "Ethereum killer."

Solana Goes Down Again — One Month After Co-Founder Admitted Outages Are Blockchain's Curse

The Solana network (CRYPTO: SOL) stopped processing transactions and went offline on Friday due to a misconfigured node, marking the blockchain's fourth significant outage since January, when it had a succession of partial outages for most of that month. One year has passed since a roughly 18-hour outage in September of last year.

Touted As The 'Ethereum Killer,' Solana Suffers Fourth Outage This Year

The Web3 brand's vibe is "punk rock meets hyperfemininity," tapping NFTs that can be redeemed for apparel and other products.

How PussyDAO Is Using Solana NFTs to Sell Physical Underwear

Key data on NFTs, gaming and the metaverse for September. The post September NFT data wrap: Minting on Solana hits new high appeared first on The Block.

September NFT data wrap: Minting on Solana hits new high

The proof-of-stake (PoS) blockchain network Solana suffered another outage on September 30 and the network restart did not take effect until six hours later on October 1.

Solana Network Suffers Another Outage — Cyber Capital Founder Says Downtime Is ‘Another Consequence of Bad Design'

Solana is back online following an outage on Friday night caused by a misconfigured node that stopped the blockchain from processing transactions. The post Solana back online following latest network outage appeared first on The Block.

Solana back online following latest network outage

The popular blockchain has suffered a handful of outages and transaction stops this year, including a string of partial outages in January.

‘Ethereum Killer' Solana Suffers Another Major Outage

Quick Take The Solana NFT ecosystem has evolved into an important pillar of the overall NFT market. The debate about NFT royalties has been swirling around Solana NFTs as well. DeGods has outperformed its competitors with a floor price increase of +1,151.5% YTD. The highly anticipated y00ts launch has made a dent in the Solana NFT universe, letting daily Solana NFT mints soar to an all-time high of 312.4K.

The State of Solana NFTs

Star Atlas just rolled out its first playable demo, plus its developer released tools to help other studios bring games to Solana.

Solana NFT Game Star Atlas Launches Playable Demo on Epic Games Store

Solana rose for a second straight day on Thursday, as the token moved closer to its long-term resistance point of $35.00. Monero was also in the green during today's session, extending recent gains in the process. Overall, markets attempted to rebound, following a red wave which swept through markets to start the week.

Biggest Movers: SOL Moves Towards $35.00, XMR Extends Recent Gains

The creators of the Anchor development framework for Solana are launching Backpack, a “first-of-its-kind” wallet supporting executable NFTs.

FTX, Jump Crypto Lead $20M Funding in Solana Development Framework Coral

The Block spoke to three Solana projects that are exploring Aptos to find out what's attracting them to the new chain. The post Aptos lures Solana developers tired of ‘eating glass' appeared first on The Block.

Aptos lures Solana developers tired of ‘eating glass'

NFT marketplace Magic Eden content head Tiffany Huang tells Decrypt's Dan Roberts and Andrew Hayward in our Decrypting Mainnet series at Mainnet 2022 about how Magic Eden's expansion to Ethereum has gone, how Solana NFTs have gained share of the overall NFT market, why she thinks even Ethereum people are paying more attention to Solana NFTs,

Tiffany Huang of Magic Eden: 'Ethereum People Are Paying a Lot of Attention to Solana NFTs'

Bitcoin

The crypto analyst who called the end of the crypto bull market is now predicting big bounces for Bitcoin (BTC) and Ethereum (ETH) challenger Solana (SOL). Popular crypto strategist Pentoshi tells his 612,000 Twitter followers that after nearly a year, he's no longer extremely bearish on Bitcoin.

Crypto Strategist Predicts Big Bounces for Bitcoin and One Ethereum Rival – Here Are His Targets

Solana's Anatoly Yakovenko believes a juggernaut IP could emerge from the current crop of NFT projects.

NFTs Will Spawn the Next Marvel or Disney, Says Solana Founder

The decentralized wireless network Helium (HNT) is officially migrating to the Solana (SOL) blockchain after a community vote upheld the decision. The Helium Foundation announced on Thursday that its community approved the move by a majority 81.41% vote on Helium Improvement Proposal (HIP) 70.

News for Solana Crypto (SOL)