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 validators have voted to pass Solana Improvement Document number 96 (SIMD-0096), which proposes that 100% of priority transaction fees will be awarded to validators. This breaks the current model that passes only 50% of these funds to validators, while the other half gets burned. According to early estimations, this will increase inflation by 4.

Solana Passes Proposal to Assign 100% of Priority Fees to Validators

The validator says the proposal only fixes half the problem and others say removing the burn function will make SOL inflationary.

Why One Solana Validator Voted Against Increasing Priority Fees

The price of Solana (SOL) has fallen since reaching resistance at $188. The altcoin has pulled back above the moving average line. It is unclear whether the selling pressure will continue in negative territory.

Solana Stays Above $160 As Buyers Recover

An analyst who continues to build a following with contrarian crypto calls believes that Solana (SOL) is one more rally away from witnessing a total meltdown.

Crypto Strategist Issues Solana Warning, Says SOL Gearing Up for a Meltdown – Here's His Outlook

In a recent development, the creators of Solana-based (CRYPTO: SOL) CAT memecoin have been implicated in a hack of a crypto influencer's account. The coin tumbled sharply in response to the controversy.

Solana-based CAT Memecoin Crashes After Team Accused Of Hacking And Price Manipulation

Over 77% of Solana governance participants voted in favor of giving validators the full priority fee amount per transaction.

Solana Validators to Get More SOL as Fee Proposal Passes in Favor

Solana validators have approved Solana Improvement Document (SIMD)-0096, which proposes sending all transaction priority fees to validators.

Solana validators to receive full priority fees as SIMD-0096 proposal gains approval

Pepe

Crypto analyst Jason Pizzino says he's looking at four altcoins flashing signs of strength, which include Solana (SOL) and the memecoin Pepe (PEPE). In a new strategy session, Pizzino tells his 327,000 YouTube subscribers that alongside SOL and PEPE, derivatives platform Pendle (PENDLE) and decentralized GPU rendering blockchain Render (RNDR) have strong-looking market structures.

Analyst Jason Pizzino Names Four Strong Altcoins in the Market Including Solana (SOL) and Pepe (PEPE)

Global investment bank JPMorgan has expressed doubt that the U.S. Securities and Exchange Commission (SEC) will approve solana ETFs or any other spot crypto ETFs beyond bitcoin and ether.

JPMorgan Doubts SEC Will Approve Solana or Other Crypto ETFs

On May 26, the trader known as GCR was allegedly hacked, possibly by the team behind the Solana-based meme coin CAT, as suggested by onchain sleuth Zachxbt.

GCR's Hack Possibly Tied to Solana's CAT Coin Team, Onchain Sleuth Zachxbt Reports

After Caitlyn Jenner's Twitter account posted a Pump.fun link, someone has claimed to have deployed the token.

Meet the Crypto Promoter Who Says He Launched Caitlyn Jenner's Solana Meme Coin

SEAMM.io, the first fully phygital (physical + digital) fashion marketplace, is revolutionizing the fashion industry with the announcement of the Fashion Digital Product Passport (DPP) on the Solana blockchain at the Fashion Stage of NFC Lisbon.

Seamm Introduces Fashion Digital Product Passport (DPP) on Solana Blockchain

JPMorgan doesn't foresee the SEC approving additional crypto ETFs following spot Ethereum ETFs, Nikolaos Panigirtzoglou told The Block.

JPMorgan casts doubt on SEC approval for Solana and other crypto ETFs

A closely followed crypto strategist who's been bullish on Solana (SOL) for the past year is suddenly flipping bearish on the Ethereum (ETH) rival. In a new video, pseudonymous analyst Bluntz tells his 259,600 followers on the social media platform X that Solana appears to have completed a five-wave rally.

Top Analyst Predicts Over 50% Decline for Solana, Says There's Really High Chance SOL Printed Macro Lower High

Aptos (APT), the layer-1 blockchain platform developed by former Meta employees, surpassed Solana by recording an astounding 115.4 million transactions on May 25.

Aptos Blockchain Sets New Daily User Transaction Record, Surpassing Solana

Standard Chartered, one of the leading global banks, has predicted that Solana and XRP will soon receive their own exchange-traded funds (ETFs) for digital assets.

Standard Chartered: Solana, XRP ETFs Could Be Next

After an extensive auction process, the estate of the bankrupt crypto exchange FTX has finalized the sale of $2.6 billion worth of Solana (CRYPTO: SOL) tokens at significant discounts. What Happened: Figure Markets and Pantera Capital were among the latest buyers, Bloomberg reported.

SOL Down 3% As FTX Bankruptcy Estate Concludes Solana Token Sales

Bitcoin

Ethereum

British bank Standard Chartered says that following the U.S. approval of spot Bitcoin and Ethereum ETFs, Solana and XRP are likely next up.

Solana, XRP ETFs Next After Ethereum, Bitcoin Approvals: Standard Chartered

Standard Chartered believes Solana {{SOL}} or Ripple's XRP could be the next contenders, but not until 2025.

SOL, XPR Could Be Possible Candidates for ETFs, Standard Chartered Says

A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on one memecoin built on the Solana (SOL) blockchain while revealing his forecast for Ethereum (ETH) going forward.

Top Analyst Says Solana-Based Memecoin Primed To Surge Higher Again, Updates Outlook on Ethereum

Following the recent approval of ether spot ETFs, Standard Chartered analyst Geoffrey Kendrick is now looking at what might be next.

Standard Chartered analyst says other crypto ETFs such as SOL, XRP ‘is likely a 2025 story'

Brian Kelly, founder and CEO of BKCM, a digital currency investment firm, stated that while he is still unsure about the imminent approval of a spot ether EFT, he trusts that it will be approved “at some point in time.

Brian Kelly: Solana Might Get the Next Spot ETF

The founder and CEO of an investment firm specializing in digital currencies is looking down the line for the next crypto exchange-traded fund (ETF). In a new CNBC interview, BKCM LLC head Brian Kelly reacts to speculation that the U.S.

This Crypto Asset Could Be the Spot ETF Candidate After Bitcoin and Ethereum, According to Investor Brian Kelly

Pseudonymous cryptocurrency trader Wazz Crypto discussed the significant challenges Solana (CRYPTO: SOL) will face in outperforming Ethereum (CRYPTO: ETH) moving forward, touching on critical metrics and market dynamics. What Happened: Wazz presents a compelling argument suggesting that "it will be much harder for SOL to keep outperforming ETH from here.

Why Solana Could Find It 'Much Harder' To Outperform Ethereum After An ETF Approval

Memecoin hype received another boost last week, though the total amount of fees being paid on Solana is still lower than in March.

News for Solana Crypto (SOL)