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

SOL is the eighth-largest cryptocurrency by market capitalization.

Solana Price Shoots Up 14% to Score Another All-Time High

Ethereum

Solana's NFT scene is picking up, and now owners can display their collectibles on the growing crypto-fueled music platform.

Crypto Music App Audius Now Showcases Both Ethereum and Solana NFTs

UXD joins a growing list of algorithmic stablecoins aiming to take market share from larger, centralized incumbents like Circle and Tether.

Solana Stablecoin UXD Raises $3M, Aims to Expand DeFi Outside Ethereum

Cardano

Blockchain analytics firm Santiment is pointing to bullish on-chain data for Ethereum (ETH), Solana (SOL) and Cardano (ADA) as the crypto market heats up again. Starting with Ethereum, Santiment highlights that Ethereum miners have been stacking ETH aggressively throughout the asset's recent recovery from its three-month low of $1,707. “Ethereum miner balances have absolutely skyrocketed […] The post Analytics Firm Santiment Points to ‘Historic' Signals on Ethereum and Solana, Says Cardano Can Run Higher appeared first on The Daily Hodl.

Analytics Firm Santiment Points to ‘Historic' Signals on Ethereum and Solana, Says Cardano Can Run Higher

Bitcoin

The second-largest cryptocurrency by market capitalization added an additional 6% in the past 24 hours as of 5:02 a.m. Eastern, trading at $3,537.

Ether Extends Gains Past $3,500, Bitcoin Remains Stuck Below $50,000, And Solana Pulls Back

A popular crypto trader thinks Cardano (ADA) and Solana (SOL) have the potential to deliver massive gains during the next leg of the bull run. Crypto market analyst Jason Pizzino shares with his 202,000 YouTube subscribers that Cardano and Solana are flashing bullish signals as the digital asset market heats up. Pizzino highlights that ADA […] The post Cardano and Solana Flashing ‘Boom Signals,' According to Crypto Analyst Jason Pizzino appeared first on The Daily Hodl.

Cardano and Solana Flashing ‘Boom Signals,' According to Crypto Analyst Jason Pizzino

Now the world's eighth-largest cryptocurrency, Solana has soared 255% over the past month.

Solana Skyrockets To New High Above $130—Amassing Nearly $40 Billion In Market Value As Competition With Ethereum Heats Up

What Happened: Market-leading altcoins amassed significant gains from institutional funds over the past seven days as Bitcoin (CRYPTO: BTC) continued to record outflows for an eighth consecutive week.

Institutions Load Up On $24M Of ETH, ADA, SOL As BTC Records 8 Consecutive Weeks Of Outflows

Solana (CRYPTO: SOL) has shot up over 6000% since the beginning of 2021 beating the year-to-date returns of major coins like Bitcoin (CRYPTO: BTC), Dogecoin (CRYPTO: DOGE), Ethereum (CRYPTO: ETH), and Bitcoin Cas

This Blockchain Platform's Crypto Has A Better YTD Return Than Bitcoin, Dogecoin, Bitcoin Cash And Ethereum

The rally in major cryptocurrencies took a pause on Monday night as the global cryptocurrency market cap fell 3.12% to $2.03 trillion.

Bitcoin, Ethereum, Dogecoin Take A Breather But Solana Can't Stop Chasing New All-Time Highs

What Happened: As other altcoins dipped lower, Solana's (CRYPTO: SOL) native token SOL crossed the $100 mark after surging more than 20% over the past 24-hours.

Solana Hits $110 As Traders Gear Up For Extended SOL Summer

Now the world's eighth-largest cryptocurrency, Solana has soared nearly 220% over the past month.

Solana Surges To New High Above $100—Amassing $30 Billion In Market Value As Competition With Ethereum Heats Up

Over the past 24 hours, Solana's (CRYPTO: SOL) price rose 7.67% to $100.22. This continues its positive trend over the past week where it has experienced a 40.0% gain, moving from $71.5 to its current price.

Solana's Price Increased More Than 7% Within 24 hours

Ethereum competitor Solana soared by another 10% over the last day to record a new all-time high above $100.

Solana Crosses $100 Milestone, Becomes 8th Largest Cryptocurrency

Bitcoin, the original cryptoasset, fails to challenge the $50k mark once again. While Bitcoin (BTC) is still struggling below $49,000, Solana (SOL) has overtaken Polkadot (DOT) and USD Coin (USDC) in the last 24 hours to become the world's number 8 cryptocurrency by market cap.

Solana Surpasses Polkadot and USD Coin, Eyeing the 7th Place in Cryptocurrency Ranking

Dogecoin

Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) traded in negative territory on Sunday night as the global cryptocurrency market cap fell 0.86% to $2.09 trillion.

Bitcoin, Ethereum, Dogecoin Remain Muted But These Cryptos Are Striking Massive Gains Heading Into New Week

Avalanche

Terra

A slew of smart contract platforms have been surging in price over the past 30 days, and blockchain analytics firm Glassnode is digging into the metrics to determine whether or not any of these platforms can compete with Ethereum (ETH) in the future. Avalanche (AVAX), Solana (SOL), and Terra (LUNA) have all exploded over the […] The post Can These Surging Altcoins Compete With Ethereum? Glassnode Analyzes Three Growing Platforms appeared first on The Daily Hodl.

Can These Surging Altcoins Compete With Ethereum? Glassnode Analyzes Three Growing Platforms

Crypto markets are prospering today, especially the altcoins.

Solana Rallies 9% as Global Crypto Market Surges to $2.3 Trillion

Solana (CRYPTO: SOL) took a major lift up since its yesterday's price, as Ethereum (CRYPTO: ETH) killers continue raking in gains.

Solana Up 25%, Hitting New All-Time Highs As Hopes For DeFi Explosion Grow

Less than a week after its native token reached new highs, SOL has done it again on the back of institutional interest in the cryptocurrency.

Solana Records New All-Time High for Second Time in a Week

Total value locked in DeFi protocols is near an all-time-high across chains.

Ethereum, Binance Smart Chain, Solana Send DeFi Value to Record Levels

Chainlink

With Chainlink oracles now live on Solana's developer network, builders have access to reliable price data.

Solana Developers Can Now Use Chainlink's DeFi Price Feeds

Pyth Network, a decentralized, cross-chain data oracle built on the Solana blockchain, is going live tomorrow, August 26. The post Solana-based data oracle Pyth Network is going live appeared first on The Block.

Solana-based data oracle Pyth Network is going live

Backed by an array of high-frequency traders, the data pipeline's mainnet launch is imminent. But key details like governance structure remain unresolved.

Pyth Launch to Bring Quant Firms' Market Data to Solana

Solana's (CRYPTO: SOL) price has decreased 8.64% over the past 24 hours to $68.15, continuing its downward trend over the past week of -13.0%, moving from $77.71 to its current price.

News for Solana Crypto (SOL)