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 was up by as much as 20% on Friday, as the token rebounded following recent declines. The token which dropped by over 50% earlier in the week, surged today, as traders seemingly bought the dip earlier in the day. However, sentiment has since shifted following the news that FTX has declared bankruptcy.

Biggest Movers: SOL Gives Up 20% Gains, as FTX Declares Bankruptcy

Things looked dire for Solana on Wednesday, but SOL is climbing again after a softened staking unlock had only modest impact.

Solana Weathers the FTX Storm: SOL Rises 33% Amid 'Crucible Moment'

Bitcoin

Ethereum

Arthur Hayes, the co-founder of crypto derivatives trading platform BitMEX, outlined his views on the latest downturn in cryptocurrencies. What Happened: According to the prediction posted by Hayes, “bottom is not yet in” and he forecasts “further fallout” after the collapse of the crypto exchange FTX (CRYPTO: FTT).

Bitcoin, Ethereum, Solana: Here Are Bitmex Founder Arthur Hayes' Price Predictions Amid Crypto Meltdown

A Solana (SOL) whale is struggling to stay afloat amid the current crypto market downstream that pulled SOL down 34% in one day. Colin Wu of Wu Blockchain tells his 237,100 Twitter followers that a Solana whale is in liquidation and currently has 2,450,418.5 SOL in collateral and 44,871,609 USD Coin (USDC) in debt.

Solana Whale Faces $51,000,000 Liquidation As SOL Tumbles Over 34% in One Day: On-Chain Data

A widely followed analyst is laying out his forecast for Bitcoin (BTC) and two Ethereum (ETH)-rivals as the crypto market goes deeper into the red territory. In a new video, Jason Pizzino tells his 279,000 YouTube subscribers that Bitcoin may see a recovery from the crypto exchange FTX-driven market crash if it breaches above $18,150.

Top Crypto Analyst Updates Outlook on Bitcoin and Solana, Says One Ethereum Rival Still Looking Strong

The outspoken founder of the derivatives exchange BitMEX is updating his crypto outlook amid a brutal market meltdown. Arthur Hayes believes the bottom is not yet in and forecasts further fallout is incoming after the collapse of the crypto exchange FTX.

BitMEX Founder Arthur Hayes Updates Price Targets for Bitcoin, Ethereum and Solana Amid Crypto Market Meltdown

The wireless hotspot network voted to move to Solana in September.

Helium Network Founder Pledges to Stick with Solana After Bloody Day for SOL

Fantom

Polygon

Tezos

A popular crypto analyst says the best altcoins to accumulate right now include Solana (SOL), Polygon (MATIC) and five Ethereum (ETH) rivals.

Polygon, Solana and Five Ethereum (ETH) Rivals Are Top Altcoins for Accumulation: InvestAnswers

The move comes after Solana has plummeted 40% in 24-hours due to its link with the beleaguered Sam Bankman-Fried empire.

DeFi Exchange Platform dYdX Places Solana in “Close Only” Mode

Leaders and builders are trying to keep positive spirits despite the crashing price, triggered by crypto exchange FTX's unraveling.

Solana Founders Rally Supporters as SOL Falls 57% Amid FTX Collapse

Former Goldman Sachs executive Raoul Pal says one Ethereum (ETH) competitor is presenting one of the most golden opportunities for discounts during the current crypto market crash.

Macro Guru Raoul Pal Says This Ethereum (ETH) Rival Has One of the Most Interesting Altcoin Discounts in Market Crash

Singapore-based Crypto.com told users via email that it had halted withdrawals and deposits for two popular stablecoins on Solana.

Crypto.‌com Pauses Withdrawals of USDC and USDT on Solana

FTX's surprise implosion has rattled the infrastructure of Solana staking.

Staked SOL Tokens Falter as Solana Traders, Stakers Rush for Exits

Bitcoin Cash

Ethereum Classic

Litecoin

Bitcoin Cash (CRYPTO: BCH), Ethereum Classic (CRYPTO: ETC), Litecoin (CRYPTO: LTC) and Solana (CRYPTO: SOL) are all falling sharply Wednesday afternoon. Shares of several altcoins are trading lower during Wednesday's session following a CoinDesk report suggesting Binance is leaning toward scrapping the FTX acquisition.

Bitcoin Cash, Ethereum Classic, Litecoin And Solana Are All Crashing Again: Here's Why

Solana Labs COO Raj Gokal called FTX crisis a “crucible moment” for the Solana ecosystem. The post Solana Labs COO sees ‘crucible' moment' for ecosystem amid FTX crisis appeared first on The Block.

Solana Labs COO sees ‘crucible' moment' for ecosystem amid FTX crisis

Crypto.com withdrawals, deposits news updates: Citing recent industry events, crypto.com informed customers it suspended deposits and withdrawals of (CRYPTO: USDC) and (CRYPTO: USDT) on Solana (CRYPTO: SOL) blockchain. The move comes after the market went through a crypto crash following Binance (CRYPTO: BNB) announced potential acquisition of FTX exchange.

Just In: Crypto.com Suspends These Withdrawals, Deposits On Solana Chain

FTX Token plunged by over 70% in today's session, as sentiment surrounding Binance's potential buyout of FTX continued to raise market eyebrows. Following speculation that FTX could be insolvent, Binance's Changpeng “CZ” Zhao moved to acquire the firm, pending due diligence.

Biggest Movers: FTT Fire Sale Sends Token Over 70% Lower, SOL Also Falls Significantly

Cryptocurrencies were under pressure for a second day Wednesday as the market digested the fallout of Binance's planned bailout of FTX.

Cryptocurrencies pressured as investors digest FTX fallout; Solana loses another 20%

Cryptocurrency prices continued to move lower this morning, with prices for Bitcoin (CRYPTO: BTC), the most valued cryptocurrency in the world, tumbling below the $18,000 level on Wednesday. Ethereum (CRYPTO: ETH) recorded double-digit losses, falling below the $1,200 mark on Wednesday.

Ethereum Dips Below $1,200; FTX Token, Solana Among Biggest Losers

Further downward pressure may be in store for Solana as tokens validators may sell over$300 million worth of sol tokens tomorrow. The post Nearly $1 billion of solana is set to be unlocked in 24 hours appeared first on The Block.

Nearly $1 billion of solana is set to be unlocked in 24 hours

Solend, a lending protocol on Solana, is scrambling to liquidate a large loan to prevent facing bad debt. The post Solend struggling to liquidate SOL loan due to congestion appeared first on The Block.

Solend struggling to liquidate SOL loan due to congestion

Cryptocurrencies associated with Sam Bankman-Fried have fared particularly badly in the last 24 hours. FTT, Solana and Serum are down 35-75%. The post Solana, FTT and Serum prices plummet on back of FTX collapse appeared first on The Block.

Solana, FTT and Serum prices plummet on back of FTX collapse

A crypto trader known for accurately predicting the previous market crash earlier this year thinks the current digital asset price downtick is “far from over.” The pseudonymous analyst known as Capo warns his 604,900 Twitter followers that the next leg down for crypto is “incoming.

Trader Who Accurately Predicted 2022 Crypto Crash Says End of Market Meltdown in Sight, Details Bitcoin, Solana and FTT Price Targets

The market is experiencing a big sell-off as traders decide what to do with the big market-shifting news.

Bitcoin, Ethereum, Solana Swing Wildly as Market Reacts to Binance-FTX Bombshell

Dogecoin

As euphoria surrounding Elon Musk's acquisition of Twitter begins to fade, DOGE has also plunged by 30% on a seven-day timeframe.

News for Solana Crypto (SOL)