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

The chief executive of the financial giant VanEck says that a Solana (SOL) exchange-traded fund (ETF) is unlikely to be available anytime soon unless one key event occurs.

VanEck CEO Rules Out the Approval of a Spot Solana ETF in the US Over the Short Term – Unless This Happens

Bitcoin

Pepe

A widely followed crypto analyst and trader believes that one memecoin is heading for the next leg up. Pseudonymous crypto trader Altcoin Sherpa tells his 216,400 followers on the social media platform X that Pepe's (PEPE) market fundamentals look strong. “PEPE: never got a chance to add at $0.00001111, I'm still in this though.

Analyst Says Ethereum-Based Altcoin ‘Looks Strong as Hell,' Outlines Path Forward for Bitcoin and Solana

Ethereum

A widely followed crypto analyst says that one smart contract platform could see massive gains while updating his outlook on Bitcoin (BTC) and Dogecoin (DOGE).

Crypto Analyst Says Top Ethereum Rival Could Skyrocket by 900%, Outlines Path Forward for Bitcoin and Dogecoin

Solana's (CRYPTO: SOL) 24% monthly gains, strong total value locked, whale movements and talks of Solana ETFs have prompted traders to predict further price appreciation. What Happened: Crypto chart analyst Ali Martinez predicts a potential 900% rally for Solana as it has broken out from a bullish pattern.

Solana Up 24% On The Month, Outperforms Bitcoin, Ethereum: What Is Going On?

The yet-to-implemented codebase allows any Solana-based protocol to use any asset for its economic security.

Jito Releases Open-Source Restaking Service for Solana

Pro-cryptocurrency attorney John Deaton, who is running for Senate against Elizabeth Warren (D-Mass.) later this year, could potentially be the candidate with the largest Bitcoin (CRYPTO: BTC) holdings.

Elizabeth Warren Rival John Deaton Holds 80% Of His Net Worth In Bitcoin — Also Owns Ethereum And Solana

Franklin Templeton is expressing optimism about the future of cryptocurrency ETFs, including a potential product centered on Solana.

Franklin Templeton Highlights Solana's Progress With Possible ETF on the Horizon

Solana (SOL) could be on the verge of a macro uptrend, according to one popular crypto analyst. The pseudonymous trader known as Rekt Capital tells his 483,100 followers on the social media platform X that the Ethereum (ETH) competitor has performed a “green circled weekly candle close.

Macro Uptrend in Sight for Solana (SOL) and One Leading Memecoin, According to Analyst – Here's His Forecast

AgriDex, which tokenizes real world agricultural assets, previously raised $5 million in pre-seed funding led by Endeavour Ventures in May.

AgriDex completes first agricultural RWA trade on Solana

AgriDex, a Solana-based marketplace aiming to bring the global agricultural market on-chain by tokenizing various crops has settled its first agricultural trade on the Solana blockchain, it told CoinDesk on Wednesday.

AgriDex Settles First Agricultural Trade on Solana Blockchain

Hamilton Lane has become the first asset manager to introduce a private credit fund on the Solana blockchain, broadening its presence in the digital asset sector. By collaborating with Web3 protocol Libre, the firm aims to make its Senior Credit Opportunities Fund (SCOPE) available to a wider range of investors.

Multi-Billion-Dollar Asset Manager Hamilton Lane Pioneers Private Credit Fund Launch on Solana

Solana meme coins are back in the headlines again, with new tokens making notable gains throughout the week. $TEA, the latest entry in this niche market, is making quite the impression with over three million community members and significant presale success within just a month of its launch.

Solana Meme Coin $TEA Is Brewing Success With Unique Staking and Swap Features

Libre is unveiling a new tokenized offering, the blockchain-based Hamilton Lane SCOPE senior credit fund, which will be available on Solana and Ethereum-compatible chains.

Solana Sees Arrival of Nomura, Brevan Howard-Affiliated Tokenization Firm Libre

The price of Solana (SOL) continues to move in an upward trend and has reached the price target of $175. SOL price analysis by Coinidol.com.

Solana Price Gains And Returns To The High Of $188

The research arm of the leading crypto exchange by trading volume says that one growing sector of digital assets is far outpacing the rest. According to a new study by Binance Research, memecoins are driving crypto awareness in 2024.

Memecoins Are the Top Performing Narrative This Year, With Base and Solana Leading the Way: Binance Research

President Joe Biden has announced that he will not seek reelection in 2024. In a letter posted on his official X account, Biden expressed his belief that stepping down is in the best interest of his party and the country.

Biden Withdraws From 2024 Race: What That Means For Solana ETF Prospects

Avalanche

AVAX led the CoinDesk 20 with a 14.5% increase in over the weekend trading, while SOL climbed 6.0%

CoinDesk 20 Performance Update: AVAX and SOL Surge Lead Weekend Advance

The total value of tokens locked on Solana has increased over 25% in a month, crossing the $5.28 billion mark to levels not seen since April 2022, data tracked by DefiLlama show.

Solana ETF Hopes, Rising Fundamentals Are Driving SOL Prices Higher, Traders Say

Digital asset investment products attracted another $1.35 billion in net inflows last week, according to CoinShares.

Global crypto investment products' inflow streak tops $3 billion as Ethereum overtakes Solana YTD: CoinShares

Will this be like May 2019 all over again? "BTC also had an explosive move back then too, and ALTs could just not keep up," writes one analyst.

Solana Soars 4% as Meme Coins and Alts See an Uptick

POPCAT become the first cat-themed meme coin to hit $1 billion market capitalization, a resolved Polymarket bet shows.

Popcat Crosses $1B, Mog Rallies as Solana, Ethereum Beta Bets Gain Favor

On July 21, 2024, a Sunday evening around 8:30 p.m. Eastern Time, presidential meme coins experienced notable fluctuations. A Solana-based meme token called kamala horris (KAMA) surged over 78% within 24 hours, while crypto coins linked to the Biden family saw a steep decline.

Solana-Based Kamala Token Soars as Biden-Linked Meme Coins Tumble After Race Withdrawal

Crypto investor Chris Burniske says that Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and the crypto market in general look ready to make a run.

Bitcoin, Ethereum, Solana and Crypto Markets Look Ready To ‘Send' As Stars Align, According to Investor Chris Burniske

Friday's crypto rally defied past days' correlation with U.S equities, which continued their losing streak.

Bitcoin Tops $66K as Cryptos Rally Amid Global IT Outage; Solana's SOL Leads Altcoins

The CoinDesk 20 Index saw a 1% increase, driven by strong performances from SOL and APT.

News for Solana Crypto (SOL)