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
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Bankrupt cryptocurrency exchange FTX is preparing to offload more of its locked Solana (SOL) tokens through an auction, diverging from its previous method of selling at a set price, as announced by Mike Cagney of Figure Markets. This decision follows FTX's recent sales of SOL tokens, amounting to approximately $1.9 billion and $2.

FTX Estate Plans Auction for Locked Solana Tokens

The FTX estate will conduct the next sale of locked Solana (SOL) tokens in the form of an auction rather than a fixed-price sale.

FTX Estate Plans Auction for Next Lot of Locked Solana Tokens

A crypto-skeptical professional OnlyFans creator discusses what it would take for him to join Only1, a similar platform on Solana.

Only1 has raised $5 million to build an OnlyFans clone on Solana, but will creators join?

Investors are hoping to score the chance to purchase Solana tokens from the FTX estate at a steep discount, though the tokens are locked.

FTX to sell next lot of locked Solana tokens at auction

Solana developers have successfully pushed a series of fixes to address network congestion issues. On April 15, Solana urged validators to update to v1.17.31, a version that changes how certain validators are treated depending on their stake.

Solana Developers Deploy Fixes to Mainnet to Address Network Congestion

Bitcoin

Ethereum

Bitcoin was the biggest story coming into the weekend, but hype around the halving hasn't fueled a price surge—not yet, at least.

Solana, Ethereum Meme Coin Prices Blast Off as Bitcoin Stays Steady After Halving

A crypto whale that's been dabbling in Solana (SOL)-based memecoins has become the largest holder of a dog-themed altcoin. First spotted by blockchain tracking firm Lookonchain, a deep-pocketed entity has accumulated $4.29 million worth of PUPS, a cartoony animal-themed meme token.

Memecoin Collector Becomes Largest Holder of Solana-Based Altcoin Before Bitcoin Halving: Lookonchain

BlockDrop Coin operates as a cutting-edge cryptocurrency that allocates mining rewards to token holders via weekly airdrops, simplifying access to the mining economy. Historically, the entry barriers to profitable Bitcoin mining have steadily increased, pushing individual miners and small operators to the periphery of the Bitcoin mining economy.

BlockDrop Debuts Weekly SOL Airdrops Backed by Bitcoin Mining Rewards

dogwifhat

Crypto venture capitalist Andrew Kang of Mechanism Capital predicts a surge in buying opportunities for several cryptocurrencies due to the expected approval of cryptocurrency ETFs globally among other factors. What Happened: Kang, in his latest tweet, expressed optimism about the near future of the crypto market.

Crypto VC Reveals His Bitcoin, Solana, Dogwifhat, TON Price Targets For "Buying Opportunities As Huge Gifts"

Pepe

A widely followed crypto analyst and trader is expressing bullish sentiment on a Solana (SOL) competitor while offering his forecast on three altcoins.

Crypto Trader Says Solana Rival Forming Decent Trade Setup, Updates Outlook on Pepe, Ethena and Celestia

Shark Cat used the likeness of a social media-famous feline without permission. Now the cat's owner is fighting back.

Crypto Cat Fight: Why the Legal Claws Are Out Over Solana Meme Coin Shark Cat

An analyst who continues to build a following with timely altcoin calls says that one memecoin running on Solana (SOL) is flashing signs of bullish reversal.

Top Analyst Says Solana-Based Memecoin Looking Good Amid Crypto Correction, Flips Bullish on One Ethereum Rival

Other Solana-based airdrop tokens W and TNSR have seen declines in value, while the network has been experiencing major congestion issues.

Solana-based betting platform Parcl loses 40% TVL after airdrop

Macro guru and ex-Goldman Sachs executive Raoul Pal is revealing that is heavily invested in one Ethereum (ETH) competitor.

Former Goldman Sachs Executive Says 80% of His Crypto Portfolio Allocated to One Ethereum Rival

﻿The price of Solana (SOL) is in a downtrend after failing twice at the $210 threshold. Price analysis by Coinidol.com.

Solana Continues Strong Rise And Bounces Back

Coinciding with the launch of the Drift DAO, the Foundation will airdrop 10% of the total supply of DRIFT tokens on Solana.

Solana Futures Exchange Drift Will Airdrop 100 Million Tokens to DeFi Traders

Designer of Ore project took to X to announce mining would be suspended immediately after Solana network suffered congestion.

Bitcoin-like mining protocol Ore halts mining on Solana amid network congestion

On April 16, 2024, the Drift Foundation, which supports the Solana-based decentralized exchange (dex) platform Drift, disclosed plans to distribute 100 million tokens to its users. The tokens will function as the platform's governance coin, to be utilized by the community and the Drift decentralized autonomous organization (DAO).

Drift Foundation Announces 100 Million Token Airdrop for Solana-Based Dex Users

A widely followed crypto analyst and trader is unveiling a list of crypto assets he is holding after last week's altcoin meltdown.

Top Trader Unveils Crypto Holdings Following Last Week's Crash, Says Altcoin Recovery Now on Accelerated Timeline

Drift, a Solana-based DEX protocol, is set to launch its token and airdrop 100 million DRIFT tokens to users.

Solana DEX Drift set to airdrop 100 million tokens to users

Some surprise winners in Drift's road to decentralization include MetaDAO.

Solana DEX Drift to Airdrop 100M Tokens in Weeks

The Anza team, which emerged from Solana Labs earlier this year, has unveiled potential solutions to address the growing congestion issues on the Solana network.

Solana Release Brings Proposed Fixes to Network Congestion Issues

The investment firm said Runes has the potential to help the broader Bitcoin ecosystem compete against Ethereum and Solana.

Runes Will Help Bitcoin DeFi ‘Close the Gap' on Ethereum, Solana: Franklin Templeto

After weeks of failed transactions, Solana might be turning a corner with the launch of a first update for mainnet validators.

Solana Update Brings First Fixes for Congestion Issues

Anthony Scaramucci, the founder of SkyBridge Capital, has voiced his skepticism towards meme coins, despite their recent high returns in the first quarter of 2024. What Happened: Scaramucci opined on meme coins and the broader digital asset market at a conference in London on Monday, DLNews reported.

News for Solana Crypto (SOL)