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 cryptocurrency market has recently been abuzz with the remarkable ascent of Book of Meme (BOME), a meme coin within the Solana (CRYPTO: SOL) ecosystem, which has seen a significant price increase. This surge is attributed to various factors, including a notable rise in open interest among derivatives traders, The Daily Hodl reports.

Latest Solana Meme Coin Skyrockets Tens Of Thousands Of Percent In Just 10 Days

Bitcoin

Ethereum

Bitcoin, Ethereum, and Solana experienced sizable drops Friday as traders speculated on the impact of the upcoming Bitcoin halving event.

Crypto Market Sees Red as Bitcoin, Ethereum, Solana Dip Ahead of Halving

Ethereum's (ETH) leading challenger is dominating global investor interest among blockchains examined by crypto data aggregator CoinGecko. According to CoinGecko, smart contract platform Solana (SOL) is by far this year's top blockchain based on an analysis of the web traffic shares of 58 blockchain ecosystems from January 1st to March 18, 2024.

Solana the ‘Most Popular Blockchain Ecosystem' in 2024 So Far, According to New CoinGecko Analysis

Bitcoin (CRYPTO: BTC) moved lower, with the cryptocurrency prices falling below the key $65,000 level on Friday. Ethereum (CRYPTO: ETH) also recorded losses, trading below the key $3,500 mark this morning.

Bitcoin Falls Below $65,000; Ondo, Solana Among Top Losers

Solana's native token, SOL, has experienced an impressive surge of 69% over the past month, reaching a high of $208 on March 18.

Solana Price Retrace But Network Activity Remains at Highs

An investigation carried out by blockchain sleuth Zackxbt has found that the trend where individuals ask for funds on social networks and promote their meme coin launches has grown in popularity. Almost $150 million has been raised on Solana after Book of Meme (BOME), the token that pioneered this trend, launched earlier this month.

Meme Coin Presale Trend Goes Wild on Solana: Almost $150 Million Raised

Fantom

A closely followed crypto strategist remains bullish on a top Ethereum (ETH) competitor despite a sudden correction. Pseudonymous analyst Altcoin Sherpa tells his 212,100 followers on the social media platform X that Solana (SOL) is showing strength after retesting the $165 Fibonacci retracement level. “SOL: good first reaction to that $165 level.

Trader Says He's Still Incredibly Bullish on Top Ethereum Rival, Updates Outlook on Bitcoin and Three Altcoins

Solana has been declared the most popular blockchain ecosystem so far in 2024, according to CoinGecko Research.

Solana declared most popular blockchain so far this year by CoinGecko Research

Ethereum and Solana have posted big gains since yesterday while their meme coins, including FLOKI, DOGE, and WIF, have all rebounded.

Ethereum, Solana and Their Meme Coins Bounce Back

The newly-formed PoliFi category is all about memes and laughs, while making a few bucks along the way, say the team behind the TREMP token.

Meet The Woman Behind Solana Hit Meme Coin ‘Doland Tremp'

In an exclusive interview with CoinDesk, Solana co-founder Anatoly Yakovenko weighs in on the meme coin frenzy that has brought attention activity to the blockchain – along with complaints that transactions aren't going through.

Solana's Yakovenko Welcomes Meme Coin Traders With 'Nothing Better to Do'

The new feature, described as "multitasking for rollups," is on Starknet's project roadmap for the second quarter of 2024, released Wednesday.

Starknet, an Ethereum Layer 2, Plans to Mimic 'Parallel Execution' Feature That Makes Solana Fast

The meme coin frenzy seems to have catalyzed higher volumes on the Solana blockchain, which also boasts greater capital efficiency than Ethereum.

Solana Leapfrogs Ethereum on DEX Volume

An unknown trader took home millions of dollars in profits in a span of a few minutes after their timely exit in a new memecoin running on the Solana (SOL) network, on-chain data shows. Blockchain tracking firm Lookonchain first spotted a trader who spent nearly 10,000 SOL to accumulate about 70 million Slerf (SLERF) tokens.

Trader Prints More Than $3,000,000 in Profits in Just 12 Minutes Amid Solana-Based Memecoin Rally: On-Chain Data

A closely followed crypto strategist believes one Ethereum (ETH) competitor is primed to print gains of more than 2x this year. Pseudonymous analyst Altcoin Sherpa tells his 211,900 followers on the social media platform X that he thinks Solana (SOL) will see new all-time highs this year.

Analyst Predicts Over 100% Rally for Ethereum Rival, Calls One Altcoin ‘Super Strong' Amid Crypto Volatility

The meme coin mania on the Solana (CRYPTO: SOL) blockchain prompted people to send almost $150 million to strangers' Solana addresses in search of the next 100X, pseudonymous cryptocurrency investigator ZachXBT revealed. What Happened: ZachXBT's investigation, shared on the social platform X, uncovered that since March 12, there have been more than 33 presale events on the Solana network, raising a total of $149.2 million in SOL.

$150M In 'Presale' Meme Coins Sent To Random Strangers' Solana Addresses, Investigation Reveals

A trader has reportedly suffered a significant loss of 3,731 SOL, equivalent to $775,000, within a span of an hour due to FOMO (Fear Of Missing Out) buying. What Happened: According to a tweet posted on Tuesday, the trader spent 5,004 SOL to acquire 790,236 SLERF at its highest price point of $1.32.

This Trader Lost $784,000 FOMO-Buying The Latest Hyped Meme Coin

The Solana Foundation has announced several recommendations that developers should follow to cope with the high usage that the network is currently experiencing. The foundation recommended implementing priority fees, and a series of optimizations to avoid dropping transactions. Also, an improved transaction scheduler is expected to be included in the next update.

Solana Announces Recommendations and Measures to Deal With Network Congestion

The increasingly prevalent practice, fueled by meme coin FOMO, is incredibly risky and already drawing red flags due to legal and ethical questions.

Solana Meme Coin Presales Have Raised $150 Million—What Could Go Wrong?

Over $122 million has been raised for 27 different Solana-based projects' presales in the last week, according to a recent investigation from blockchain sleuth ZachXBT. ZachXBT says that since March 12, more than 655,000 SOL worth about $122.5 million has been raised for various presales.

‘Stop Doing This' – $122,500,000 Worth of Solana (SOL) Raised in One Week for Altcoin Presales: Report

Some professional traders have termed SLERF a “blue chip meme” – a nod to blue chip stocks – for reasons ranging from its fair distribution among holders to perceived future demand.

Solana Meme Coin Slerf Clocks Higher Trading Volume Than All of Ethereum

The price of Solana (SOL) has overcome the resistance level of $150 and is thus continuing its upward trend.

Solana Rises But Drops Back To $176

A new Solana-based memecoin, Slerf, has lost $10 million after the project's developer accidentally burned a major portion of the token supply.

Solana Memecoin Slerf Accidentally Burns $10M of Presale Funds

Cosmos

Polkadot

With Bitcoin's (CRYPTO: BTC) stellar 155% rally in the past six months having reinvigorated interest in the cryptocurrency space, investors are on the lookout for investing opportunities that could provide similar or more returns going forward. This warrants a closer look at the altcoin space, with many token projects offering investors the opportunity to generate staking rewards along with the potential for further token price appreciation.

Turn $1,000 Into $150 A Month? Explore These High-Yield Crypto Staking Options

After the collapse of FTX Trading Ltd. in 2022, many wrote off Solana and thought that the project was dead.

News for Solana Crypto (SOL)