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

About 120,000 Wrapped Ether tokens were taken in the attack — and the project has pleaded with the hacker to return the funds, promising to pay them a $10 million bug bounty.

$320M in Crypto Stolen After Audacious Wormhole Hack

Ethereum

Blockchain platform Wormhole offered the attacker $10 million to return the funds.

$325 Million In Stolen Crypto 'Safe' After One Of Solana's Biggest Hacks Ever—Ethereum And Sol Prices Still Plunging

Cardano

Fantom

Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding Emerging L1 DeFi ecosystems are starting to contend with unique technical challenges related to performance and scalability while more established chains deal with the fallout of recent network outages and developer scandals This week, we take a look at Cardano, Harmony, Fantom, and Solana

Layer by Layer Issue 19: Cardano, Harmony, Fantom, and Solana

A popular Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) bridge, Wormhole, lost more than $320 million after it was apparently attacked.

$320M In Crypto Sinks Down The Wormhole As Ethereum-Solana Bridge Hacked

Solana's Biggest Attack Yet: $325 Million In Crypto Allegedly Stolen From $1 Billion Decentralized Finance Platform

Wormhole, one of the most popular bridges linking the ethereum and solana blockchains, lost about $320 million in an apparent hack Wednesday afternoon.

More than $320 million stolen in latest apparent crypto hack

Reports indicate that the Wormhole Network's ethereum ↔ solana bi-directional bridge has been exploited by an attacker for 93,750 ether or more than $250 million using today's ethereum exchange rates. The developers behind the Wormhole Network have told the public the network is “down for maintenance,” as the team “looks into a potential exploit.” Wormhole […]

Wormhole Network's Cross-Chain Bridge Exploited for Over $250 Million in Ethereum

Chainlink

A top crypto analyst and trader is naming Solana (SOL), Chainlink (LINK) and three other altcoins as the digital assets to watch this month. In a new video, pseudonymous trader Altcoin Sherpa says that he expects one more leg down for smart contract platform Solana to around $65 before it can ignite a relief rally […] The post Solana (SOL), Chainlink (LINK) and Three Additional Altcoins Are Ones To Watch This February: Crypto Analyst appeared first on The Daily Hodl.

Solana (SOL), Chainlink (LINK) and Three Additional Altcoins Are Ones To Watch This February: Crypto Analyst

Solana (CRYPTO: SOL) is trading lower Wednesday as the cryptocurrency market is seeing a red day. The crypto is cooling off after seeing a strong day up Tuesday.

Solana Might Be Seeing An End To The Bear Market Cycle: What's Next?

Wormhole helps people move digital assets between Solana, Ethereum, and other blockchains.

Hacker Steals $250 Million From Solana, Ethereum Bridge Wormhole

Solana Labs is hosting its latest global hackathon during the launch of the Solana Hacker House Inaugural World Tour.

Solana Labs Riptide Hackathon to Dole Out $5M in Prizes, Seed Funding

Solana Labs, the entity behind high-speed blockchain Solana (CRYPTO: SOL), has launched a new payments protocol that will let merchants accept crypto payments directly from consumers.

Game Changer? Solana Pay To Usher In 'New Era' Of Crypto Payments

Loopring

Solana was trading close to 15% higher on Tuesday, as crypto markets were mostly in the green to start February. This comes as markets look set to move past January's red wave. Biggest gainers Cryptocurrency markets were mostly bullish during Tuesday's session, with several projects seeing their value rise to start the new month. One […]

Technical Analysis: Solana Surges 15%, as Loopring Price Declines

Coachella is offering music fans lifetime access to the annual concert festival with a Solana NFT, plus perks like front row access and more.

Coachella, FTX US to Auction Lifetime Festival Passes as NFTs on Solana

The storied California music festival is making the jump to Web 3.

Coachella Music Festival to Launch Solana NFTs in Deal With FTX

February 1, 2022 – New Delhi, India Passive crypto investment gateway Flint will enter its beta stage to let anyone easily access passive returns on their stablecoins. Returns can be as high as 13% per annum, and there are no specific time requirements for locking up funds. Passive income is a dream for many cryptocurrency […] The post Flint Launches High Annual Crypto Returns on Solana Without the Volatility appeared first on The Daily Hodl.

Flint Launches High Annual Crypto Returns on Solana Without the Volatility

Solana Labs has launched Solana Pay to let merchants accept crypto payments directly from consumers. The post Solana Labs launches Solana Pay, a payments protocol for digital commerce appeared first on The Block.

Solana Labs launches Solana Pay, a payments protocol for digital commerce

Can Solana Labs' open-source payment plugin pick up where the bitcoin white paper left off?

‘Pay' Product Looks to Boost Stablecoin Payments on Solana

Terra

Solana and Terra were both trading up by double digits at the time of writing—a reversal from the brutal January for coins. The post Crypto market stages comeback with Solana, Terra leading rally appeared first on The Block.

Crypto market stages comeback with Solana, Terra leading rally

Tezos

Several popular layer 1 cryptocurrencies including SOL, XTZ, and LUNA have enjoyed double-digit gains after a bearish month for the wider market. 

Layer 1 Networks Solana, Tezos, Terra Kick Off February With a Bang

On Monday, the team behind the Solana Web3 wallet platform Phantom announced it had raised $109 million in a Series B fundraise. The crypto company is now a Unicorn with a post valuation of $1.2 billion in value. Solana Web3 Wallet Phantom Raises $109 Million The Phantom wallet team has raised $109 million in a […]

Solana's Phantom Raises $109 Million in a Series B Fundraise Obtaining Unicorn Status

Bitcoin

El Salvador's president Nayib Bukele has predicted a "gigantic" increase in the bitcoin price—calling it "just a matter of time"...

Crypto Price Prediction: El Salvador President Reveals ‘Gigantic' Bitcoin Bet As Ethereum, BNB, Solana, Cardano And XRP Rally

Avalanche

All three coins lost at least one-third of their value to start 2022.

Ethereum 'Killers' Solana, Terra and Avalanche Got Killed in January

Crypto wallet Phantom has raised $109 million in a Series B funding round and is now valued at $1.2 billion. The post Solana wallet Phantom raises $109 million in new funding, launches iOS app appeared first on The Block.

Solana wallet Phantom raises $109 million in new funding, launches iOS app

CEO Brandon Millman has his sights set on the Ethereum staple after hitting a $1.2 billion valuation in his firm's latest funding round.

News for Solana Crypto (SOL)