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

Solana was briefly halted for more than four hours yesterday, triggering a massive sell-off of the network's native SOL cryptocurrency.

Solana Plummets Double-Digits Amid Another Network Halt

The Solana (CRYPTO: SOL) network was forced to stop block production for four hours on Wednesday. What Happened: Validators reported the issue around 1 p.m.

Here's What Caused The Solana Blockchain Halt On Wednesday

Solana fell more than 12% on Wednesday as the blockchain suffered its second outage in the last month.

Solana suffered its second outage in a month, sending price plunging

Validators restarted the network after four hours of downtime by disabling the so-called “durable nonce transactions” that have found favor among some exchanges.

Solana Halted by Bug Linked to Certain Cold Storage Transactions

SOL is down 11% for the day as Solana dealt with another period of downtime, forcing a rollback and restart by validators.

Bug Brings Down Solana Blockchain for Four Hours

On June 1, 2022, the Solana network halted block production again as the blockchain network has stopped working a number of times during the network's lifetime. According to the Solana status update, validator operators are being asked to prepare for a restart. Solana Continues to Be Plagued by Outages, SOL Downtime Denounced by the Crypto […]

Solana Halts Block Production, Validators Told to Prep for a Restart, Network's Decentralization Criticized

Popular cryptocurrency Solana (CRYPTO: SOL) is seeing downtime Wednesday. Here are the current details.

Solana Is Down: What You Need To Know

The Solana development team has asked validators to prepare to reboot the blockchain. The post Solana blockchain suffers new network outage appeared first on The Block.

Solana blockchain suffers new network outage

Genesis Global, one of the crypto market's biggest lending and trading firms, is ramping up its decentralized finance footprint by contributing $75 million to Maple's Solana-based lending platform.  The post Genesis is parking $75 million in capital into Maple's Solana-based lending platform appeared first on The Block.

Genesis is parking $75 million in capital into Maple's Solana-based lending platform

Bitcoin

Ethereum

A widely-followed crypto strategist and trader is predicting what's ahead for Bitcoin (BTC), Ethereum (ETH) and Solana in the next few days. Michaël van de Poppe tells his 605,700 Twitter followers that Bitcoin may once again bounce off a key support level and reclaim the psychological level of $30,000 before the month of May expires. […] The post Imminent Moves to the Upside Likely for Bitcoin, Ethereum and Solana, According to Top Analyst – Here Are His Targets appeared first on The Daily Hodl.

Imminent Moves to the Upside Likely for Bitcoin, Ethereum and Solana, According to Top Analyst – Here Are His Targets

Avalanche

A popular crypto strategist says that rallies are on the horizon for two Ethereum (ETH) challengers, including Solana (SOL). Pseudonymous crypto analyst Pentoshi tells his 556,200 Twitter followers that he believes Solana is poised for a rally as traders get overly bearish on the smart contract platform while it hovers at a key support level. […] The post High Probability Rallies in Sight for Solana and One More Ethereum Rival, According to Top Analyst appeared first on The Daily Hodl.

High Probability Rallies in Sight for Solana and One More Ethereum Rival, According to Top Analyst

A closely tracked crypto strategist who continues to build a following with his bearish calls says it is almost time for leading digital asset Bitcoin (BTC) to ignite another huge sell-off event. Pseudonymous trader Capo tells his 323,500 Twitter followers that demand for Bitcoin at $28,000 is nearly exhausted as BTC bears continue to stack […] The post Crypto Analyst Says Bitcoin Capitulation Imminent, Updates Outlook on Ethereum, Solana and One More Altcoin appeared first on The Daily Hodl.

Crypto Analyst Says Bitcoin Capitulation Imminent, Updates Outlook on Ethereum, Solana and One More Altcoin

Polkadot

A top crypto analyst believes four Ethereum (ETH) competitors face a bleak future if Bitcoin (BTC) continues to fall. Pseudonymous trader Altcoin Sherpa tells his 176,100 Twitter followers that smart contract-enabled blockchains Solana (SOL), Avalanche (AVAX), Polkadot (DOT) and NEAR Protocol (NEAR) are all set to shed around 50% of their value from current prices […] The post Solana, Avalanche and Two Other Ethereum Rivals Could Crash 50% if Bitcoin Dives Lower, Warns Top Crypto Analyst appeared first on The Daily Hodl.

Solana, Avalanche and Two Other Ethereum Rivals Could Crash 50% if Bitcoin Dives Lower, Warns Top Crypto Analyst

The wider market remains down, but Ethereum and other altcoins are feeling even more pain while gaming and metaverse tokens struggle.

Ethereum, Solana and Gaming Tokens Are Falling Fast as Crypto Slump Continues

Polygon

BlockFi, a popular crypto lending platform, has slashed interest rates by half for some of the market's cryptos held by non-US clients. The post BlockFi halves interest rates for major cryptos Solana, Avalanche, Polygon appeared first on The Block.

BlockFi halves interest rates for major cryptos Solana, Avalanche, Polygon

The Solana network clock has lost its sync with real-world time and is now running about half an hour behind. The post Solana's blockchain clock loses track of time, now running 30 minutes behind appeared first on The Block.

Solana's blockchain clock loses track of time, now running 30 minutes behind

Fantom

A popular altcoin trader is predicting rallies for Binance Coin (BNB) and two Ethereum (ETH) challengers including Solana (SOL). Pseudonymous crypto strategist Altcoin Sherpa tells his 176,000 Twitter followers that BNB, the utility token of crypto exchange Binance, is one of the strongest altcoins in the market right now. “BNB: Trade idea, wait for a […] The post Crypto Analyst Predicts for Rallies for Binance Coin (BNB), Solana (SOL) and One Additional Ethereum (ETH) Rival appeared first on The Daily Hodl.

Crypto Analyst Predicts for Rallies for Binance Coin (BNB), Solana (SOL) and One Additional Ethereum (ETH) Rival

Solana NFTs generated more money than Ethereum's during a 24-hour span due in large part to the launch of the Trippin' Ape Tribe collection.

Not Trippin': Solana Overtakes Ethereum in Daily NFT Trading Volume

Brave is making crypto easier to buy through its wallet feature.

Brave Adds Solana Support and Ramp Wallet Functionality in Latest Browser Update

Crypto markets were down across the board on Tuesday, as bears re-entered the market, following strong gains on Monday. SOL was one of the tokens to fall, as it lost just over 10% of its value. NEAR also slipped by over 10% during the session. Solana (SOL) SOL was one of the most notable tokens […]

Biggest Movers: SOL, NEAR Fall Over 10% During Tuesday's Session

A widely followed crypto strategist and trader believes that two of Ethereum's (ETH) biggest challengers are likely to pull off rallies in the coming weeks. Pseudoymous analyst Pentoshi tells his 553,200 Twitter followers that he's keeping a close watch on smart contract platforms Solana (SOL) and Avalanche (AVAX). According to the crypto analyst, both AVAX […] The post Two Ethereum Challengers Gearing Up for Rallies As Crypto Looks Turbo Bullish: Top Analyst appeared first on The Daily Hodl.

Two Ethereum Challengers Gearing Up for Rallies As Crypto Looks Turbo Bullish: Top Analyst

Cosmos

SOL was trading lower to start the weekend, as prices slipped on Saturday. This comes as bears re-entered the market following a week of consolidation. ATOM was one of the biggest movers, falling by 10%. Cosmos (ATOM) After climbing by over 15% on Friday, ATOM was one of the biggest losers on Saturday, as prices […]

Biggest Movers: SOL Slips Again as ATOM Drops 10% to Start the Weekend

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 ecosystems that have built connections with Terra and its native assets are adjusting to a new reality as they contend with the fallout of UST's collapse This week, we take a look at Cosmos, Avalanche, and Solana

Layer by Layer Issue 31: Cosmos, Avalanche, and Solana

The Solana non-fungible token (NFT) market is beginning to find its stride, with daily transactions on the ecosystem's leading marketplace, Magic Eden, now topping OpenSea, its Ethereum counterpart.

The Solana-based marketplace has seen far more transactions than its Ethereum counterpart in the last 24 hours.

Two altcoins are crushing Ethereum (ETH) in terms of active addresses and daily transactions, according to a new report from venture capital giant Andreessen Horowitz (a16z). The venture capital firm looked at active addresses measured over a 30-day period as of May 12th, Ethereum had 5.5 million, compared to 9.4 million for Binance Chain's Binance […] The post Two Ethereum Rivals Are Far Outperforming ETH in Pair of Key Metrics, Says Venture Capital Giant Andreessen Horowitz appeared first on The Daily Hodl.

News for Solana Crypto (SOL)