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 moved to a six-week high on Wednesday, as markets reacted to the latest inflation figures from the United States. The consumer price index (CPI) fell to 5% in March, lower than the 5.2% sum many had expected. Ethereum classic also moved higher, nearing a multi-week high.

Biggest Movers: SOL Hits 6-Week High, Following US Inflation Data

A prominent analytics firm says one of Ethereum's (ETH) biggest rivals is way ahead of the blockchain pack in one key on-chain metric. Messari says that smart contract platform Solana (SOL) remains the top protocol among emerging ecosystems in terms of daily transaction count.

Ethereum Rival Far Outpacing Other Crypto Platforms in Number of Daily Transactions: Analytics Firm

Litecoin

Solana was up by as much as 15% on Tuesday, as momentum in cryptocurrency markets shifted higher. The global crypto market cap is up by 4.42% at the time of writing. Litecoin was another notable mover, as the token rose to a five-week high.

Biggest Movers: SOL 15% Higher, as LTC Hits 5-Week High

Real Vision CEO Raoul Pal thinks Ethereum (ETH) competitor Solana (SOL) could mirror the top altcoin's meteoric rise in price between 2018 and 2021. In a blog post originally published for his clients in January, the former Goldman Sachs executive laid out his prediction for SOL's long-term future.

Former Goldman Executive Says Ethereum Competitor Primed To Repeat ETH's Epic 2018 Rally

SOL is riding the positive sentiment across the crypto market and the excitement around its Android phone launch.

Solana Leads Crypto Market Rebound, Jumps 10% Overnight

The price of Solana (SOL) is bearish, although it is still below the moving average lines.

Solana Is In A Range But Holding Above The $20 Support Level

Cardano

Cardano rose for a second straight session to start the weekend, as the token continued to move away from a key price floor. Cryptocurrency markets were marginally higher in today's session, with the global market up 0.56% as of writing. Solana continued to consolidate on Saturday.

Biggest Movers: ADA Extends Gains, as SOL Consolidates on Saturday

New technology could potentially impact the NFT market and Solana-based web3 projects.

Solana NFT minting costs could get cheaper with new technology

A popular crypto analyst says there are three metrics that are looking bullish for Ethereum (ETH) competitor Solana (SOL) right now.

Here Are Three Bullish Metrics for Ethereum Rival Solana (SOL), According to InvestAnswers

Solana (SOL) price has been fluctuating indecisively since January 14. The uptrend was stopped at the $26 high, which led to a sideways movement.

Solana Trades Marginally In A Narrow Range Below $22

Raydium, Solana's second-biggest decentralized exchange, envisons a bug bounty program to clean up its market maker smart contracts.

Solana-Based Crypto Exchange Raydium Proposes $2M Bug Bounty Fund

Cosmos

Eclipse and Injective have partnered to launch Cascade: a rollup chain that is compatible with Solana-based applications.

Injective, Eclipse to bring Solana applications to the Cosmos ecosystem

Crypto whales are suddenly on the move, relocating over nine million Solana (SOL) in a series of transactions. Whale-watching bot Whale Alert spotted the flurry of transactions to the tune of 9,075,999 SOL worth more than $186.84 million.

Crypto Whales Abruptly Move Over $186,000,000 in Ethereum Rival Solana – Here's Where the Crypto Is Going

Polygon

Nearly 77% of all y00ts NFTs have switched chains since late Monday, with DeGods still set to leave Solana for Ethereum this Friday.

At Least $37M Worth of y00ts NFTs Migrate to Polygon From Solana in One Day

The popular project, which launched in September 2022, is using a cross-chain bridge to bring its 15,000-edition generative art collection to Polygon.

NFT Collection Y00ts Makes Anticipated Move From Solana to Polygon

Bitcoin

Digital assets manager CoinShares says institutional crypto investment products finally ended their six consecutive weeks of outflows last week in a big way. In its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that institutional crypto investment products saw the highest inflows in over eight months.

Institutional Capital Pours Into Bitcoin, Solana, XRP and More at Highest Rate Since July 2022

Ethereum

Cega raised $5 million in a seed extension round led by Dragonfly Capital. The Solana-based derivatives protocol focused on exotic options is set to launch on Ethereum.

Solana-based derivatives protocol Cega raises $5 million to expand on Ethereum

The price of Solana (SOL) has risen to its highest level, but is currently falling.

Solana Holds Above $20 On Bearish Exhaustion

Fantom

A top crypto analyst is mapping the path forward for four crypto assets that have witnessed bullish price action in the last seven days. In a new strategy session, pseudonymous analyst Cred tells his 49,200 YouTube subscribers that XRP could witness bullish continuation as long as it is above the previous resistance at $0.414.

Analyst Predicts Ethereum Rival Will Explode by Over 90%, Updates Outlook on XRP, Cardano and Solana

A popular crypto analyst known for calling the 2018 Bitcoin (BTC) bottom thinks Ethereum (ETH) is primed for a breakout. Pseudonymous trader Smart Contracter shares a chart with his 221,700 Twitter followers that suggests Ethereum could shoot up past the $1,900 range in short order.

Analyst Known for Calling Crypto Bottoms Predicts Breakout for Ethereum, Says Solana Primed for New Rallies

A community review will decide if the network will build its new burn-and-mint equilibrium model on the Solana blockchain.

Render Network Eyes Solana Migration Ahead of Network Changes

Solana rose by as much as 8% to start the week, as the token moved toward a one-month high. The token climbed for a second straight session, as the global banking crisis pushed investors towards cryptocurrencies. Chainlink was also higher, hitting a three-week high.

Biggest Movers: SOL Over 8% Higher to Start the Week

Venture capitalist Chris Burniske says that Ethereum (ETH) rival Solana (SOL) could be setting itself up for a massive move to the upside.

Top Ethereum Rival Could Be Gearing Up for Glorious Move, Says Investor Who Called 2022 Crypto Bottom

The price of Solana (SOL) has been rising since it entered the positive trend zone.

Solana Is In Decline As He Faces Fierce Opposition At $23

Ethereum Classic

Ethereum classic rose by as much as 12% in today's session, as cryptocurrency markets rallied to start the weekend. The global market cap is trading over 3% higher at the time of writing, as investors continue to buy crypto following the recent banking crisis. Solana was also higher in today's session.

News for Solana Crypto (SOL)