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 is like a lifestyle-friendly blockchain because you can have nights and weekends off," one disgruntled Twitter user said.

Solana Still Doesn't Know Why It's Suffered Yet Another Outage

The idea, the company says, is to give better access to wealth-building via real estate on-chain. 

Tokenized Texan house listed for sale on Solana

The top US crypto exchange Coinbase says Solana (SOL) is poised to become one of the strongest layer-1 blockchain projects. New Coinbase analysis says Solana is likely going to emerge as one of the top Ethereum (ETH) rivals among the multiple layer-1 blockchains fiercely competing against each other for capital and users.

Coinbase Says One Ethereum Rival Emerging As Major Long-Term Layer-1 Competitor

The Solana blockchain was stuck for more than one day over the weekend, recovering only after validators restarted the network.

Solana Developers Say Reason For Network Outage Still Unclear

Two days after a major outage, the Solana Foundation says it's still investigating why the network went down for almost 20 hours.

Solana Foundation Still Doesn't Know What Caused Weekend Network Outage

ALSO: CoinDesk Chief Content Officer Michael Casey considers why the U.S. Securities and Exchange Commission has overreached in its recent actions against crypto entities, and that the crypto industry must improve its lobbying efforts; bitcoin's price rises.

First Mover Asia: Solana in the Green After Weekend Deep Freeze

The Solana blockchain is back online after two attempts to restart the network, according to network monitoring site Solana Status.

Solana network back online following second restart

The price of Solana (SOL) is currently falling as it breaks below the moving average lines.

Solana Reaches Bearish Fatigue And Recovers Over $22

The Solana network's deep freeze continued Saturday as validators were preparing a second restart attempt that they hoped would restore service to users of the blockchain.

Solana Validators to Make Second Restart Attempt as Transaction Freeze Drags On

The Solana smart contract token network experienced a technical glitch on Saturday, February 25, 2023, known as a “large forking event,” causing transaction failures for some users. Solana's incident report referred to it as “cluster instability” and indicated that a coordinated restart was launched to accelerate block finalization.

Solana Blockchain Experiences Technical Glitch Causing Transaction Slowdowns

After a technical disruption, Solana validators have been instructed to restart its network clusters.

Solana blockchain impacted by technical issue

Validators and Solana Foundation and Labs engineers are investigating the issue.

Solana Network's Transaction Processing Craters After ‘Forking Event'

Across from a seedy 7-Eleven and around the corner from a Victorian-style municipal hall in central Salt Lake City, Utah, Solana developers flock for a month-long coding retreat: mtnDAO.

Inside the mtnDAO: Solana Devs Gather for a Month-Long Utah Retreat

The network's developers implemented a new feature last year to let some users to pay extra to avoid congestion. Even the elevated "priority fee" rate is still considered low, so the adoption rate is growing.

For Solana Users, 'Priority Fees' Mean Paying Up to Skip the Line

Polygon

Customizable rollup provider Eclipse announced that the startup is launching a scaling solution that is compatible with Solana and Polygon. Eclipse disclosed that the Layer 2 blockchain can run smart contracts on Solana, and decentralized applications (dapps) will be easily migratable to the Polygon Sealevel Virtual Machine (SVM).

Eclipse to Launch Rollup Blockchain for Polygon Network with Solana Compatibility

Solana (CRYPTO: SOL), like other cryptocurrencies, experienced the fallout in the crypto markets in 2022. But its technical fundamentals remained strong despite the collapse of FTX, which had an inordinate impact on the blockchain's ecosystem, according to a recent research report by Coinbase.

Solana's Technical Fundamentals Remain Strong Despite Crypto Market Fallout

Polygon SVM uses the SeaLevel Virtual Machine (SVM) and Optimistic Rollups technology, allowing Solana developers to migrate their apps to Polygon.

Eclipse to release a Solana-compatible Layer 2 blockchain built for Polygon network

DeLabs details the motivations behind the Ethereum and Polygon moves and exclusively explains the bridging process for Decrypt.

DeGods and y00ts Are Leaving Solana—Here's How It's Going to Work

Ethereum

Base is built on Optimism and Coinbase has no plans to issue a new network token.

Coinbase Launches Layer 2 Blockchain Base to Provide Onramp for Ethereum, Solana, and Others

The fundamental value proposition of the Solana protocol persists from a technical perspective, the report said.

Solana Blockchain Well Positioned to Reassert Itself as a Genuine Layer 1 Competitor: Coinbase

Litecoin

Litecoin snapped a four-day losing streak on Feb. 22, despite cryptocurrency markets mostly trading lower. The token rose for the first time since Saturday's session, when prices were above $100.00. On the other hand, solana extended recent declines, falling by as much as 7%.

Biggest Movers: LTC Snaps Losing Streak, SOL Moves 7% Lower

"I've instructed our retail team to be ultra generous," founder and CEO Vibhu Norby said.

Solana Spaces gives fans final week to snag free merch ahead of shut down in Miami, NYC

Solana Spaces will close its New York City and Miami locations by the end of February.

Solana-Themed Storefronts Close Shop, Ending Experiment in IRL Blockchain Evangelism

The team behind Solana Spaces shifts away from brick-and-mortar gateways to onboard people into Web3.

Solana Spaces Closing Stores in NYC and Miami

The premise is simple: The transaction is the wallet, meaning anyone can use it. Now, TipLink is expanding the idea with fresh funding.

News for Solana Crypto (SOL)