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

Ethereum

The firm cited higher speed and scalability as motivations for the shift.

Power Ledger to Move to Solana From Ethereum

Algorand

Popular cryptocurrency analyst and Coin Bureau host, Guy, says investments by venture capitalists in later-stage cryptocurrency projects indicate the high potential those particular projects have. Guy kicks off his list of five cryptocurrency projects with high-performance blockchain Solana (SOL), which is among the many projects that have received massive financial backing from venture capital (VC) […] The post Here Are Top Five Altcoins To Watch Based on VC Backing, According to Coin Bureau appeared first on The Daily Hodl.

Here Are Top Five Altcoins To Watch Based on VC Backing, According to Coin Bureau

The Graph

Polygon

Popular crypto strategist and trader Michaël van de Poppe says five altcoins are showing signs of life after enduring the marketwide collapse in May. Van de Poppe tells his 350,500 followers on Twitter that he's watching the price action of decentralized application (DApps) platform Solana (SOL) as it looks to either breach resistance at $35.00 […] The post These Five Altcoins Flashing Signs of Life After Crypto Collapse: Analyst Michaël van de Poppe appeared first on The Daily Hodl.

These Five Altcoins Flashing Signs of Life After Crypto Collapse: Analyst Michaël van de Poppe

Decentralized Finance (DeFi) protocol Solrise Finance (CRYPTO: SLRS), hosted on the Solana (CRYPTO: SOL) blockchain, finished a $3.4 million funding round.

DeFi Protocol Solrise Raises $3.4M For Solana-Based Platform

Bitcoin

The co-founder of the crypto derivatives exchange Hxro says he's accumulating several crypto assets during the market downturn. In a new episode of Delta-Fi, Rob Levy says he's not concerned about nailing the exact bottom of the crypto correction. As the markets search for direction, Levy says he's accumulating Bitcoin, Ethereum, the relatively new smart […] The post Crypto Exchange Co-Founder Buying Bitcoin, Ethereum, Solana Plus ‘No Brainer' Altcoin Amid Market Recalibration appeared first on The Daily Hodl.

Crypto Exchange Co-Founder Buying Bitcoin, Ethereum, Solana Plus ‘No Brainer' Altcoin Amid Market Recalibration

Cardano

Cryptocurrency analyst and YouTuber Jason Pizzino is considering several crypto assets as the market bounces off of its recent lows. Pizzino tells his 190,000 YouTube subscribers that he's bullish on Ethereum in the long run, although he expects ETH to drop against Bitcoin in the near term. “ETH, it's one of those ones I'm happy […] The post Top Analyst Says He's Bullish on Ethereum and Cardano – But Another Altcoin Is Looking Stronger appeared first on The Daily Hodl.

Top Analyst Says He's Bullish on Ethereum and Cardano – But Another Altcoin Is Looking Stronger

June 30, 2021 – Seoul, South Korea Token minting platform Dexlab has completed a private funding round to create a gateway to the Solana ecosystem. $1.44 million was raised with the aid of grants from Solana and Eco Serum and the participation of leading blockchain venture capital firms. Dexlab is the developer behind the Minting […] The post Dexlab Raises $1.44M To Make Launching on Solana Easy appeared first on The Daily Hodl.

Dexlab Raises $1.44M To Make Launching on Solana Easy

Cryptocurrency trader and analyst Ben Armstrong believes that the battle for dominance among smart contract blockchains is well underway. In a video, Armstrong says Solana (SOL) and Elrond (EGLD) are the newest blockchain platforms that could “possibly unseat the big boys” such as Ethereum (ETH), Cardano (ADA), Polkadot (DOT) and Binance Smart Chain. The cryptocurrency […] The post Two Altcoins Could Unseat Ethereum, Cardano, Polkadot and Binance Smart Chain, Says Trader Ben Armstrong appeared first on The Daily Hodl.

Two Altcoins Could Unseat Ethereum, Cardano, Polkadot and Binance Smart Chain, Says Trader Ben Armstrong

The exchange-traded product will track the performance of Solana's native SOL token.

21Shares Launching World's First Solana ETP on SIX Swiss Exchange

Solana, the 14th-largest cryptocurrency in the market, is among the market's biggest gainers over the past 24 hours. 

Solana Mounts Bullish Recovery as Crypto Markets Rebound

Over 50 tokenized stocks can now be traded across platforms built on Solana.

Tesla, Facebook, Google, Stocks Launch on the Solana Blockchain

Digital Assets AG, a Switzerland-based firm that tokenizes financial instruments, has launched tokenized stocks on the Solana blockchain. The post Digital Assets launches Solana-based tokenized stocks on FTX appeared first on The Block.

Digital Assets launches Solana-based tokenized stocks on FTX

Tokenized versions of popular stocks such as Tesla Inc (NASDAQ: TSLA) and Facebook Inc (NASDAQ: FB) will be available for trading on FTX through infrastructure made available by Swiss firm Digital Assets AG or DAAG using

Tokenized Tesla, Netflix, Facebook Stocks Coming On FTX Platform Via Solana Blockchain

Since around the middle of May, the crypto markets have seen hard times. However, 1 cryptocurrency hasn't entirely followed the dip and has distinguished itself from the rest of the market.

Check Out The Crypto Of The Day: SOL

LMAX CEO David Mercer said the key question for DeFi going forward is, how do you value this stuff?

Solana-Based Pyth Network Adds Institutional Crypto Exchange LMAX as Data Provider

Curve DAO Token

Loopring

Crypto investing giant Grayscale is considering adding 13 different altcoins to their holdings to offer as investment products. In a new statement, the crypto titan says it is exploring support for the following cryptocurrencies: 1inch (1INCH) Bancor (BNT) Curve (CRV) Internet Computer (ICP) Kava (KAVA) Kyber Network (KNC) Loopring (LRC) NEAR (NEAR) Polygon (MATIC) Ren […] The post Crypto Giant Grayscale Exploring Support for Solana, Polygon and 11 Other Altcoins appeared first on The Daily Hodl.

Crypto Giant Grayscale Exploring Support for Solana, Polygon and 11 Other Altcoins

The crypto asset manager is now exploring a total of 31 new investment products.

Grayscale Looks to Add Solana, Polygon, ICP and 10 More Crypto Assets

Crypto asset manager Grayscale is exploring 13 more investment trust products, including ones tied to Solana and Polygon tokens. The post Grayscale is exploring 13 more investment products, including ones for Solana and Polygon appeared first on The Block.

Grayscale is exploring 13 more investment products, including ones for Solana and Polygon

Evan Cheng, the director of research at Facebook's Novi Financial, is also joining the project as an adviser.

Solana Foundation Leads $3M Investment in Blockchain Data Platform PARSIQ

The Solana ecosystem is backed heavily by Sam Bankman-Fried, and has been pitched as a faster, cheaper alternative to Ethereum.

Step Finance to Aggregate Solana's Decentralized Exchanges Onto Dashboard

A high-profile pseudonymous crypto trader says that one emerging smart contract platform may pose a more enticing long-term investment than top blockchain network, Ethereum. The analyst and trader known in the industry as The Crypto Dog, is spotlighting scalable layer 1 blockchain project Solana (SOL) amid the crypto market breakdown. The Crypto Dog believes that […] The post This Emerging Altcoin Is More Exciting Long-Term Bet Than Ethereum, Says Prominent Crypto Trader appeared first on The Daily Hodl.

This Emerging Altcoin Is More Exciting Long-Term Bet Than Ethereum, Says Prominent Crypto Trader

The ambitious Oxygen will enter its beta stage in the next two to three months, said co-founder Alex Grebnev.

Solana-Based Oxygen Taps Jump Trading in Bid to Be DeFi's Top ‘Prime Brokerage'

Solana Labs — the company behind the software that the Solana (CRYPTO: SOL) blockchain runs on — raised $314.15 million in a private token sale from investors, including Andreessen Horowitz's A16z and Polychain Capital.

Solana Labs Raises $314M From Andreessen Horowitz's A16z, Polychain Capital, Others

Solana's price increase comes amid Solana Labs raising over $300 million in a recent funding round.

Solana Labs Secures $314M in Funding as SOL Token Rises 20%

It's one of the largest token sales in recent memory.

News for Solana Crypto (SOL)