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

There are many interesting projects being built on the Solana blockchain. Read this guide to learn about the top projects you should check out. The post Top Projects Building on Solana in 2022 appeared first on Bitcoin Market Journal.

Top Projects Building on Solana in 2022

The protocol aims to create a Solana-based equivalent of MakerDao: a DeFi protocol with a U.S. dollar denominated stablecoin.

Hubble Protocol Raises $5M to Expand Solana-Based DeFi Protocol

A popular crypto analyst is still bullish on Helium's (HNT) long-term prospects despite the project's recent steep correction. In a new YouTube video, the anonymous host of InvestAnswers tells his 443,000 subscribers that Helium, a decentralized wireless network for the Internet of Things (IoT), is a “picture-perfect use case for blockchain.

Crypto Analyst Weighs In As Helium (HNT) Tumbles After Proposal To Migrate to Solana (SOL)

Ethereum

Polygon

Polkadot

A trading robot with a reputation for outperforming the markets is sharing its newest portfolio allocations as most crypto assets seek to recover from an overall downtrend. Each week the Real Vision Bot conducts surveys to compile algorithmic portfolio assessments that generate a “hive mind” consensus.

Trading Bot Known for Beating Crypto Markets Chooses Ethereum, Polygon, Solana and Additional Blue-Chip Altcoin

The buzzy y00ts NFT launch delivered on the hype with millions in sales, and its creators just raised funding for a Web3 tech startup.

Solana NFT Startup Dust Labs Raises $7M as y00ts Tops NFT Charts

Solana Labs CEO Anatoly Yakovenko is addressing some of the technical difficulties that Solana (SOL) experienced over the last year.

Solana Founder Anatoly Yakovenko Addresses Ethereum Rival's Blockchain Outages and Issues

Bitcoin

A great deal of digital currencies are down in value during the last 30 days and the worst performing crypto out of the top ten coins with the largest market valuations was solana, losing 19.12% against the U.S. dollar.

Crypto Economy Loses $102 Billion in 30 Days — BTC, SOL Shed the Most Losses

In any thriving casino, the variety of provably fair sports is one of its most attractive features.

Top 7 Games You Can Find on the Best Solana Casinos

Coinbase Cloud is launching Solana archival nodes in the latest expansion of blockchain infrastructure for the high-speed network. The post Coinbase Cloud launches Solana archival nodes appeared first on The Block.

Coinbase Cloud launches Solana archival nodes

Amid uncertainty about a potential move over to Solana, Helium's HNT is losing value—and it's now down 47% over the last month.

Helium Sinks 15% Following Proposed Move to Solana

Litecoin

Solana was back in the red on Thursday, as the token fell towards a three-month low in today's session. The decline comes as cryptocurrency markets fell lower, trading down by as much as 2.39% as of writing. Litecoin was a notable exception, climbing for a second successive session.

Biggest Movers: SOL Slips Towards Multi-Month Low, as LTC Surges on Thursday

Cosmos

Avalanche

Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding L1 teams continue to optimize for greater scalability and cross-chain communication, but on-chain metrics point to declining activity in DeFi protocols across the board This week, we check in with Avalanche, Solana, and Cosmos

Layer by Layer Issue 44: Avalanche, Solana, and Cosmos

The core developers of Helium (HNT) want to move the decentralized wireless network for the Internet of Things (IoT) to high-performance blockchain Solana (SOL).

Helium (HNT) Developers Consider Moving Network Over to Solana (SOL) Blockchain

The latest price moves in crypto markets in context for Aug. 31, 2022.

First Mover Americas: A Bleak Month for Crypto as Bitcoin Slides, Ether Stalls and Solana Tanks

The core developers at Helium have proposed to migrate the project to Solana in a move that aims to achieve additional scalability. The post Helium developers propose a full migration to the Solana blockchain appeared first on The Block.

Helium developers propose a full migration to the Solana blockchain

The proposed change is would be 'momentous,' bringing more speed, stability, and scalability.

Helium Developers Mull Migration of Crypto Wireless Network to Solana

A popular crypto strategist known for his timely altcoin calls warns that a trio of digital assets could see more pullbacks. Pseudonymous analyst Altcoin Sherpa tells his 181,900 Twitter followers that smart contract platform Solana (SOL) is likely headed to revisit its range low of $25.

Crypto Analyst Predicts Corrections for Solana (SOL), Avalanche (AVAX) and Cosmos (ATOM) – Here Are His Targets

“Please don't rush like what we did,” the OptiFi team wrote after permanently closing its blockchain program in error.

Solana DeFi Exchange Accidentally Bricks Itself, Locks Up $661K Forever

Chairman Nigel Eccles wants to cut out the middleman, and thinks a Solana protocol is the way to go, he told CoinDesk TV's “First Mover.”

Betting Platform BetDEX Labs Likes the Odds for Its Decentralized Sports Exchange

The decentralized network utilizes the Solana validator to facilitate tasks such as automated payments.

Solana-Based Automation Network Clockwork Raises $4M in Seed Funding

The Clockwork network enables developers to schedule recurring tasks and automate on-chain workflows on Solana. The post Solana automation network Clockwork raises $4 million appeared first on The Block.

Solana automation network Clockwork raises $4 million

The protocol has said that it will reimburse all users' funds.

Solana-Based DeFi Protocol OptiFi Loses $661K in Programming Blunder

A popular crypto analyst is examining how one upstart blockchain designed for scalability compares to the leading smart contract platform. In a new video, the anonymous host of InvestAnswers provides his 444,000 YouTube subscribers with a detailed analysis comparing Ethereum (ETH) with rival Solana (SOL).

Solana (SOL) vs. Ethereum: Analyst Pits ETH Against One of Its Biggest Competitors

Fireblocks has launched support for Solana and its decentralized finance, gaming, and NFT applications. The post Fireblocks launches support for Solana NFTs, games and DeFi appeared first on The Block.

Fireblocks launches support for Solana NFTs, games and DeFi

The integration also pushes support for the WalletConnect2 protocol across the Solana ecosystem, said Fireblocks CEO Michael Shaulov.

News for Solana Crypto (SOL)