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
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Solana's (CRYPTO: SOL) price has decreased 6.65% over the past 24 hours to $225.79, continuing its downward trend over the past week of -1.0%, moving from $233.18 to its current price.

Solana Down More Than 6% Within 24 hours

Ethereum

Raj Gokal, the co-founder of Solana Labs, thinks the community perception of competition between blockchains like Solana (CRYPTO: SOL) and Ethereum (CRYPTO:

Solana Labs Co-Founder Says Ethereum Cannot Be Killed

Cosmos

Terra

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 Total value locked in L1 ecosystems has continued to rise as significant amounts of native protocol tokens remain staked in the largest DeFi protocols This week, we take a look at Solana, Binance Smart Chain, Terra, and Cosmos

Layer by Layer Issue 15: Solana, Binance Smart Chain, Terra, and Cosmos

Cardano

Bitcoin

Bitcoin has rocketed this week, climbing to a fresh all-time high of around $69,000 per bitcoin after some in the crypto community predicted a "big week"...

Bitcoin Now Primed For A Sudden Shock After Huge $500 Billion Ethereum, BNB, Solana, Cardano And XRP Price Rally

In a move that will integrate high-performance blockchain wallets and privacy-focused browsers, smart contract platform Solana (SOL) announced a business partnership with Brave browser. Brave says in a press release that Solana will get access to over 40 million users on the browser, as well as over one million creators. “Brave will integrate the Solana […] The post Solana Poised To Add Millions of New Users As It Teams Up With Privacy-Focused Browser appeared first on The Daily Hodl.

Solana Poised To Add Millions of New Users As It Teams Up With Privacy-Focused Browser

On November 9, the two-time Grammy-nominated producer and DJ, Steve Aoki, announced a new partnership with the popular comic book artist and Spawn creator Todd McFarlane. The two plan to launch a non-fungible token (NFT) marketplace that leverages the Solana blockchain. The NFT marketplace will be called Odd Key and Aoki and McFarlane aim to […]

Record Producer Steve Aoki and Spawn Creator Todd McFarlane to Launch Solana-Powered NFT Market

The company also raised $5.5 million in a funding round co-led by Republic Capital.

Zebec Protocol Launches on Solana Offering Flexible Payroll

The companies are aiming to expand play-to-earn gaming worldwide.

Solana-Based GameFi Title Genopets to Partner With Yield Guild Games

Brave, the company behind the Brave browser, has partnered with Solana to provide support for the blockchain directly from its browser. According to a press release, the Brave browser will now default to Solana for cross-chain and decentralized app support. Brave users, that are now in the millions, will have access to a Solana wallet […]

Brave Browser to Integrate Solana Support

Alexis Ohanian, the co-founder of Reddit, told conference attendees on Tuesday that he has partnered with Solana Ventures to further the growth of decentralized social media projects on the Solana (CRYPTO: SOL) blockchain.

Reddit Co-Founder And Solana Ventures Invest $100M To Build Social Media On Solana

At the Breakpoint conference in Lisbon, Yakovenko told Decrypt that the role of NFTs in crypto has now become crystal clear.

NFTs Capture ‘Deep, Social Component' of Crypto: Solana's Anatoly Yakovenko

Over the past 24 hours, Solana's (CRYPTO: SOL) price has fallen 3.44% to $241.28. This is opposite to its positive trend over the past week where it has experienced a 14.0% gain, moving from $212.21 to its current price.

Solana Down More Than 3% Within 24 hours

The venture firm of U.S. investor Alexis Ohanian, co-founder of social media site Reddit, has teamed up with the venture arm of the Solana Labs blockchain for a $100 million investment initiative in decentralized social projects, both firms said on Tuesday at a conference in Lisbon.

Reddit co-founder, Solana venture team up on $100 mln blockchain investment initiative

With OddKey, the collaborators aim to recreate the Image Comics vibe of nearly 30 years ago with Spawn NFTs and more.

Todd McFarlane, Steve Aoki Launch Creator-Focused Solana NFT Marketplace

Reddit co-founder Alexis Ohanian will be investing in decentralized social media using the Solana blockchain. The post Reddit co-founder to invest $50 million in social media on Solana appeared first on The Block.

Reddit co-founder to invest $50 million in social media on Solana

Reddit and Solana's founders have teamed up to announce a $50 million initiative for Web 3.0 social media technology.

Reddit Co-Founder and Solana Ventures Team On $50M Web 3 Social Media Initiative

Seen as a key tool for “smart money” NFT flips on Ethereum, Nansen will soon offer insight into the rising Solana ecosystem.

Nansen to Add Solana to Popular NFT, DeFi Analytics Platform

Solana will be Nansen's first non-EVM chain when it joins the platform in early 2022.

Nansen to Bring Crypto Intelligence Tools to Solana Early Next Year

Phantom is launching a wallet app; Solflare's is already live. Both projects see mobile as critical to growth.

Solana Wallets Phantom, Solflare Eye Mobile for Growth

The Phantom wallet is a popular way for Solana traders to navigate DeFi. It says a mobile version is coming soon.

Phantom Wallet Preps Mobile Launch After Reaching 1.2 Million Users on Solana

Neon Labs has raised funds to continue building out Neon EVM, which allows any Ethereum app to be seamlessly ported to Solana.

Developers Behind Ethereum-Solana Bridge Raise $40M in Token Sale

Neon Labs, which is building a Solana EVM, has raised $40 million in a private token sale round. The post Neon Labs, developer of Ethereum virtual machine on Solana, raises $40 million appeared first on The Block.

Neon Labs, developer of Ethereum virtual machine on Solana, raises $40 million

SOL, the native cryptocurrency that runs the Solana blockchain, has again overtaken the industry's largest stablecoin, Tether, for market cap.

Solana Flips Tether Again to Reclaim Fourth Largest Cryptocurrency

The Ethereum-compatible environment could lead to implementations of popular DeFi protocols on Solana.

Neon Labs Raises $40M to Bring EVM Functionality to Solana

Alexis Ohanian's Seven Seven Six thinks Solana can support social at scale.

News for Solana Crypto (SOL)