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

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CryptoCodex: Bitcoin And Crypto Price Meltdown Sends Ethereum, Cardano, Solana, BNB, XRP And Dogecoin Sharply Lower

Popular crypto analyst Michaël van de Poppe is bullish on Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Cardano (CRYPTO: ADA) and Solana CRYPTO: SOL) and believes they are ready for an “explosive” fourth quarter.

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Wormhole Network Launches Ethereum Solana Bridge, Solana AMM Saber Surpasses $4 Billion TVL

Decentralized finance is taking off on Solana. Here's what that looks like.

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Avalanche

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Over the past 24 hours, Solana's (CRYPTO: SOL) price has fallen 10.23% to $139.51. This continues its negative trend over the past week where it has experienced a 21.0% loss, moving from $178.46 to its current price.

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Polkadot

These days, it is impossible to go anywhere on social media where the cryptocurrency community gathers and not hear about certain trending coins. No longer is the conversation only about Bitcoin, Ethereum, and a select few others, the opportunities around crypto are much more plentiful.

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Cosmos

Terra

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 Layer 1 blockchain foundations continue to release incentive programs to attract users and developers, with a flurry of launches in the past month Rising demand (or lack of it) from users entering new ecosystems is proving to pose unique challenges for both layer 1 and layer 2 chains This week, we take a look at Solana, Binance Smart Chain, Cosmos, Terra, and Arweave

Layer by Layer Issue 7: Update on Solana, Binance Smart Chain, Cosmos, Terra, and Arweave

The blockchain network Solana had issues processing blocks on September 14 and according to a status report on September 15 at 2:01 a.m. (EST), the Solana validator community “successfully completed a restart of Mainnet Beta.” Solana Validators Restart Mainnet Beta Solana is now a member of the club of blockchains that have stalled for several […]

Solana Restarts Mainnet, SOL Users Complain, Dev Says Network Stall Not Similar to ETH in 2016

High-performance blockchain Solana (SOL) is now fully operational after recovering from a network instability problem. The Solana Foundation says in a tweet that the network was upgraded and restarted successfully hours after the issue was first reported. “The Solana validator community successfully completed a restart of Mainnet Beta after an upgrade to 1.6.25. Dapps, block […] The post Solana Network Back Up and Running Hours After Suffering Major Outage appeared first on The Daily Hodl.

Solana Network Back Up and Running Hours After Suffering Major Outage

After shutting down Tuesday due to transaction overload, Solana is gradually coming back online after validators restarted it.

Solana Sputters Back to Life Following Downtime, Network Restart

The Solana blockchain is back online after an hours-long outage. The post Solana blockchain validators restart network after transaction stoppage appeared first on The Block.

Solana blockchain validators restart network after transaction stoppage

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Solana Mainnet Back Online After High-Profile Outage, But SOL Suffers

High-speed blockchain Solana's (CRYPTO: SOL) network suffered a major outage on Tuesday, sending the value of its native token plummeting by more than 15% in under 12 hours.

Why The Solana Network Crashed On Tuesday

High-performance blockchain Solana (SOL) is growing in popularity among cryptocurrency investors, threatening more established crypto asset investment products. According to digital asset management firm CoinShares, the seventh-largest cryptocurrency by market cap saw more inflows than Bitcoin and Ethereum during the week ending September 13th. During the period when the cryptocurrency market largely saw declines, Solana […] The post Solana Inflows Dwarf Bitcoin Investments As Institutions Diversify to Other Crypto Assets appeared first on The Daily Hodl.

Solana Inflows Dwarf Bitcoin Investments As Institutions Diversify to Other Crypto Assets

Major coins like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) traded higher on Tuesday night as the global cryptocurrency market cap rose 3.75% to $2.13 trillion.

Bitcoin, Ethereum, Dogecoin Shoot Up While Solana Falls On Network Crash

Solana's sol token, which had been following a downward trend recently, fell to almost $140 this evening, down from more than $170 this morning. The digital asset pushed lower after Solana's network was overwhelmed with transactions and went down. Where will it go next?

Solana Suffers Sharp Volatility After Network Becomes Flooded With Transactions

SOL is sinking amid extended downtime, although the wider market is up over the last 24 hours.

Solana's Price Crashes 13% as Network Outage Continues

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News for Solana Crypto (SOL)