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

A Solana whale nearly drained a liquidity pool, and it would have caused some major ripples—let's dive in.

How a Solend Whale With a $108M Loan Nearly Crashed the Solana Network

Ethereum

A leading digital assets manager finds institutional investors are buying into Solana (SOL) over Ethereum (ETH) as markets tumble. In the latest Digital Asset Fund Flows Weekly report, CoinShares says Ethereum investment products have suffered over 10 weeks of consecutive outflows ahead of what's known as “the merge,” which is Ethereum's plan to transition to a proof-of-stake […] The post Institutional Investors Are Ditching Ethereum in Favor of One of Its Biggest Rivals, According to CoinShares appeared first on The Daily Hodl.

Institutional Investors Are Ditching Ethereum in Favor of One of Its Biggest Rivals, According to CoinShares

A leading lending platform on the Solana (SOL) blockchain says a governance proposal urging users to grant it emergency powers to potentially seize the crypto assets of its largest whale has passed. According to the governance proposal, Solend (SLND) also sought to impose special margin requirements for whales that have borrowed more than a fifth […] The post Solana-Based Lending Platform Votes To Seize Whale's Funds To Prevent Instability appeared first on The Daily Hodl.

Solana-Based Lending Platform Votes To Seize Whale's Funds To Prevent Instability

A leading NFT marketplace announced a new funding round Tuesday. Here's a look at who are the new investors, what the funds will go towards and how much the company is worth.

NFT Marketplace Magic Eden Raises $130M, Here's How Much The Company Is Worth Now

The Solana whale who came on the verge of getting liquidated last week has started moving their funds to mitigate risk to Solend. The post Solana whale shuffles $25 million to reduce risk to DeFi protocol Solend appeared first on The Block.

Solana whale shuffles $25 million to reduce risk to DeFi protocol Solend

The top NFT platform on Solana is a newly-minted crypto unicorn with a $1.6 billion valuation—and it's going to add other blockchains.

Solana NFT Marketplace Magic Eden Raises $130M, Plans Multi-Chain Expansion

The Solana-based marketplace for non-fungible tokens (NFTs) plans to launch on more blockchains in the near future. The post Solana-based NFT marketplace Magic Eden reaches $1.6 billion valuation appeared first on The Block.

Solana-based NFT marketplace Magic Eden reaches $1.6 billion valuation

The large raise comes during an otherwise downcast crypto climate.

Solana NFT Marketplace Magic Eden Raises $130M at $1.6B Valuation

Polygon

A closely followed crypto analyst says that only a select group of altcoins will survive the bear market and recover in the coming years. The pseudonymous analyst known as Altcoin Sherpa tells his 178,000 Twitter followers that he expects about 5% of altcoin projects to survive the current crypto winter. The analyst names smart contract […] The post Analyst Says Solana (SOL), Polygon (MATIC) and One Additional Altcoin To Come Out Alive From Crypto Bear Market appeared first on The Daily Hodl.

Analyst Says Solana (SOL), Polygon (MATIC) and One Additional Altcoin To Come Out Alive From Crypto Bear Market

Solend's controversial governance proposal to take over the DeFi lending protocol's largest wallet has been invalidated after a follow-up vote.

Solana Lending DAO Overturns Vote to Take Over At-Risk ‘Whale' Wallet

Web3 startup Luda is focused on “create-to-own” experiences through new IP shaped by DAO communities, starting with Neo Fairies.

PlayStation, Google Vets to Co-Create New Franchises Via Solana DAOs

Some claimed it went against the values of DeFi — and it might have been downright illegal to control someone's funds this way.

Solend Avoids PR Disaster with U-Turn over Plans to Gain Access to Whale's Wallet

A pair of crypto analysts say one Ethereum (ETH) challenger is beginning to flash signs of strength despite the sustained bearish trend across the digital asset markets. Pseudonymous analyst Pentoshi tells his 576,200 Twitter followers that smart contract platform Solana (SOL) looks bullish as it continues to stay afloat despite last week's sharp correction. “SOL […] The post Two Crypto Analysts Bullish on Ethereum Competitor That's Showing ‘Incredible' Strength appeared first on The Daily Hodl.

Two Crypto Analysts Bullish on Ethereum Competitor That's Showing ‘Incredible' Strength

Avalanche

A closely followed crypto analyst says Solana (SOL) and Binance Coin (BNB) are the only digital assets he wants to hold amid market volatility. Pseudonymous trader Altcoin Sherpa tells his 177,500 Twitter followers that Solana will likely recover and that he sees good entry points for SOL between $15 and $25. “SOL: [in my opinion] […] The post Here's What's Next for Solana (SOL), Binance Coin (BNB) and Two Ethereum Rivals, According to Top Crypto Trader appeared first on The Daily Hodl.

Here's What's Next for Solana (SOL), Binance Coin (BNB) and Two Ethereum Rivals, According to Top Crypto Trader

Solana's new fee structure could lead to “gas wars” for big NFT drops, but it won't cause fees to rise across the entire network like on Ethereum.

Solana's New Gas Fees Won't Make the Network 'Expensive,' Says Co-Founder

SOL was nearly 10% higher on Thursday, as crypto prices rebounded following recent losses. The rebound comes a day after the latest Fed rate hike, with TRX also gaining on the news. Solana (SOL) SOL was trading higher during today's session, spurred by the latest Federal Reserve rate hike. Following a low of $28.46 on […]

Biggest Movers: SOL, TRX Nearly 10% Higher, as Crypto Prices Marginally Rebound

A popular analyst is digging into the charts to set price targets for four crypto assets as the markets tumble. The pseudonymous trader known as Altcoin Sherpa tells his 177,300 Twitter followers that he's looking at leading smart contract platform Ethereum with one-week candles, and that the $500 to $800 range a possibility if ETH […] The post Here's How Low Ethereum, Solana, Avalanche and One Additional ETH Rival Will Go, According to Crypto Analyst appeared first on The Daily Hodl.

Here's How Low Ethereum, Solana, Avalanche and One Additional ETH Rival Will Go, According to Crypto Analyst

The vulnerability meant that secret recovery phrases were sometimes stored on a user's hard drive.

Ethereum Wallet MetaMask, Solana's Phantom Patch 'Demonic' Security Bug

Bitcoin

Shark Tank star and billionaire investor Kevin O'Leary is sharing his latest crypto investment strategy in the wake of volatility affecting most asset classes. In a new interview with the Bankless podcast, O'Leary explains how he abides by the general rules of portfolio theory when allocating capital for cryptocurrency investments. “I've been layering in now […] The post Shark Tank Investor Kevin O'Leary Details Crypto Holdings, Name-Drops Bitcoin, Ethereum, Solana and Additional Altcoins appeared first on The Daily Hodl.

Shark Tank Investor Kevin O'Leary Details Crypto Holdings, Name-Drops Bitcoin, Ethereum, Solana and Additional Altcoins

Data from leading digital asset manager CoinShares suggests that throughout 2022, institutional investors have shown a heavy preference to smart contract platform Solana (SOL). According to the latest CoinShares Digital Asset Fund Flows Weekly report, institutional investors have poured over $108 million into Solana (SOL) investment products this year, the most of any altcoin by far, […] The post Solana (SOL) Dominating Institutional Capital Flows for 2022 As Crypto Carnage Continues: CoinShares appeared first on The Daily Hodl.

Solana (SOL) Dominating Institutional Capital Flows for 2022 As Crypto Carnage Continues: CoinShares

The host of popular YouTube channel Coin Bureau is comparing Ethereum challengers Solana (SOL) and Near Protocol (NEAR) amid mounting uncertainty in the crypto markets. In a new video, analyst known as Guy tells his 2.06 million YouTube subscribers that SOL has preferable tokenomics to NEAR.  “Tokenomics is where Solana shines. I don't know what […] The post Solana (SOL) vs. Near Protocol (NEAR) – Coin Bureau Host Analyzes Top Ethereum Rivals appeared first on The Daily Hodl.

Solana (SOL) vs. Near Protocol (NEAR) – Coin Bureau Host Analyzes Top Ethereum Rivals

Dogecoin

DOGE and SOL were some notable movers on Monday, as crypto markets were once again hit by a red wave. DOGE dropped to its lowest level since April 2021, whilst SOL was also trading close to a one-year low to start the week. Solana (SOL) SOL's sell-off saw prices fall to their lowest level since […]

Biggest Movers: DOGE, SOL Hit 1-Year Lows as Cryptos Crash

Jack Dorsey misspelled the blockchain's name in a tweet as he set out his vision for what the next iteration of the internet should look like.

Solana Changes Name to 'Solano' After Jack Dorsey Typo

Solana Changes Name to 'Solano' After Jack Dorsey Typo — as Blockchain Called 'Unsafe'

The temporary move is a tongue-in-cheek embrace of Dorsey's public diss of the blockchain, and Solana fans are enjoying the joke.

News for Solana Crypto (SOL)