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

Cosmos

Cosmos rose to its highest point since May earlier in today's session, as crypto markets surged on Thursday. The global market cap is trading over 6.27% higher as of writing, with bullish sentiment sweeping through. Solana was trading over 10% higher in today's session .

Biggest Movers: ATOM Climbs to Highest Point Since May, While SOL Rises by Over 10%

Jito Labs, which is building infrastructure to mitigate the negative impact of MEV on Solana, has raised a total of $12.1 million. The post Solana MEV infrastructure developer Jito Labs raises $10 million appeared first on The Block.

Solana MEV infrastructure developer Jito Labs raises $10 million

The Solana wallet provider said that it plans to hunt down the hacker and try to make its users whole. The post Slope: No ‘conclusive evidence' tying $4 million Solana hack to its own security flaw appeared first on The Block.

Slope: No ‘conclusive evidence' tying $4 million Solana hack to its own security flaw

Cypher, which launched its “v2” Wednesday, thinks futures markets can help validators hedge their risks.

Corn Farmers Hedge Their Crops with Futures. This Solana DEX Wants Vaildators to Follow Suit

Solana (SOL) wallet Phantom says that the $4 million exploit that affected over 8,000 users last week doesn't appear to have anything to do with its infrastructure. According to Phantom, an investigation launched into the hack unveiled no evidence that its system was compromised during the exploit.

Solana Wallet Phantom Says $4,000,000 Hack Not Related to Vulnerabilities in Its System

Phantom has clarified that its systems were not compromised during the wallet exploit. The post Solana wallet provider Phantom says its systems were uncompromised in $4 million hack appeared first on The Block.

Solana wallet provider Phantom says its systems were uncompromised in $4 million hack

Polygon

LA-based studio Arrivant is taking its Project Eluüne: StarGarden game cross-chain and will launch on Polygon in addition to its current home on Solana. The post Solana-based Project Eluüne: StarGarden to launch on Polygon appeared first on The Block.

Solana-based Project Eluüne: StarGarden to launch on Polygon

OptiFi went live Monday, bringing portfolio margining to the Solana options trading ecosystem.

Crypto Options Trading on Solana Has Mostly Fizzled. A New DEX Has a Plan to Change That

Investors in the Solana-based project included YCombinator, Coinbase Ventures and FBG Capital

Cashmere Raises $3M Seed at $30M Valuation to Build Solana Enterprise Wallet

Bitcoin

Ethereum

A popular analyst is providing price target updates for four crypto assets as the markets try to end the week in positive territory.

Crypto Trader Says Bitcoin Flashing Bullish Signal, Updates Ethereum, Solana and Optimism Forecasts

The Slope team also promised not to pursue any legal action if the attacker returns the funds within 48 hours. The post Slope Wallet says it will pay 10% bounty if attacker returns stolen funds appeared first on The Block.

Slope Wallet says it will pay 10% bounty if attacker returns stolen funds

We already knew that crypto developers cannot always be trusted. But can we even trust the data?

The Fake Team That Made Solana DeFi Look Huge

In this episode of The Scoop, Solana Labs co-founder and COO Raj Gokal discusses his early impression of Solana Spaces, as well as the innovation and experimentation that is occurring across the Solana ecosystem at a "breakneck pace." The post How Solana is bridging the gap between web3 and the physical world appeared first on The Block.

How Solana is bridging the gap between web3 and the physical world

Hedera

Shark Tank star Kevin O'Leary is revealing that he took advantage of the market downturn to add to his crypto holdings. In a new interview with Stansberry Research, O'Leary says that his crypto portfolio suffered a double-digit drawdown, but he took that as an opportunity to buy the dip. “We took a hit.

Kevin O'Leary Says He's Doubled Down on Crypto Amid Downturn, Naming Bitcoin, Ethereum and Three Altcoins

Following the Solana wallet attack, the Solana Status team updated the public and detailed that the wallet addresses affected by the breach were tied to Slope mobile wallet applications. The team further stressed that “there is no evidence the Solana protocol or its cryptography was compromised.

Solana's Investigation Indicates Wallet Exploit Tied to Slope Mobile App

Security researchers at Otter claim they have pinned down what may have caused the Solana wallet breach. The post Slope wallet provider saved user seed phrases in plain text, Solana security researchers find appeared first on The Block.

Slope wallet provider saved user seed phrases in plain text, Solana security researchers find

In an official statement, Slope confirmed that a "cohort" of wallets were compromised in the breach — and while it has some early theories concerning what happened, nothing's firm yet.

Slope Linked to Thousands of Solana Wallets Being Drained, with Millions of Dollars Lost

The pseudonymous crypto analyst Altcoin Sherpa remains largely bearish about the market despite the general price uptick last week. The trader tells his 180,700 Twitter followers that $22,000 is a “must hold” level for Bitcoin (BTC).

Here's What's Next for Bitcoin (BTC), Solana (SOL) and Three Under-the-Radar Altcoins: Top Crypto Trader

An investigation into Tuesday's private wallet exploit within the Solana (CRYPTO: SOL) ecosystem revealed that Solana wallet Slope was to blame. What Happened: The root cause of the attack was due to an accidental leak of users' private keys from Slope wallets' backend, Solana Status said on Wednesday.

Solana Blames Slope For Private Key Leak In Wallet Exploit

Amid the early chaos and confusion of the Solana wallet hack, white-hat hackers took matters into their own hands to slow down the attack.

How Solana Vigilantes Battled Back Against the Wallet Hacker

ApeCoin

Ethereum Classic

A closely tracked crypto strategist is predicting dips for two altcoins while updating his forecast for Solana (SOL) and ApeCoin (APE). Pseudonymous crypto analyst Altcoin Sherpa tells his 180,700 Twitter followers that smart contract protocol Ethereum Classic (ETC) looks poised for a significant pullback after its steep rally over the past few weeks.

Analyst Predicts Pullbacks for Ethereum Classic and One Low-Cap Altcoin, Updates Outlook on Solana and ApeCoin

Slope Finance has confirmed that a cohort of Slope wallets were compromised in yesterday's incident on Solana. The post Solana team traces exploit back to Slope mobile wallets appeared first on The Block.

Solana team traces exploit back to Slope mobile wallets

Private keys may have been inadvertently compromised as a Solana mobile wallet is fingered for the major network attack.

Solana Hack Blamed on Slope Mobile Wallet Exploit

The source of the exploit appears to be linked to Slope allegedly storing private keys as plain text on a centralized server.

Solana's Latest $6M Exploit Likely Tied to Slope Wallet, Devs Say

Solana co-founder Anatoly Yakovenko says that the hack that compromised over 8,000 SOL holders' wallets may be due to issues with mobile platforms.

News for Solana Crypto (SOL)