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
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Solana Labs announced on Wednesday that it has completed a $314.15 million private token sale, confirming reporting from earlier this week.

Solana Labs Announces $314 Million Fundraising Round

Solana Labs has raised $314.15 million in a private token sale round led by Andreessen Horowitz (a16z) and Polychain Capital. The post Solana Labs raises $314 million in new funding led by A16z and Polychain Capital appeared first on The Block.

Solana Labs raises $314 million in new funding led by A16z and Polychain Capital

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Analyst and trader Josh Rager is unveiling that he's buying four cryptocurrencies amid the sustained correction in the digital asset market. In a new tweet, the popular crypto strategist tells his 173,400 followers that he's scooping up Bitcoin (BTC), Ethereum (ETH), smart contract platform Solana (SOL) and multi-scaling solution Polygon (MATIC). Current positions $BTC $ETH […] The post Top Trader Says He's Buying These Four Crypto Assets Amid Market Retreat appeared first on The Daily Hodl.

Top Trader Says He's Buying These Four Crypto Assets Amid Market Retreat

Solana, a proof-of-stake, smart contracts-enabled currency, is aiming to raise $450 million in a funding round that was extended last March. The Solana ecosystem, which is backed by Sam Bankman-Fried, founder and CEO of derivatives exchange FTX, would use these funds to take on Ethereum supremacy in the Defi ecosystem. Solana to Raise $450 Million […]

Solana Aims to Raise $450 Million to Battle Ethereum Supremacy

Fresh funding could help blockchain organization Solana take aim at Ethereum with technology to accommodate demand for DeFi products, NFTs, and other decentralized applications.

Solana Rumored To Be Raising $450 Million To Build An Ethereum-Killer

One of the largest market makers on the NYSE is jumping on the Solana bandwagon. The post One of NYSE's largest market-makers is joining a Solana-based data project appeared first on The Block.

One of NYSE's largest market-makers is joining a Solana-based data project

What Happened: The Solana blockchain is reportedly raising between $300 and $450 million as it works on expanding network functionality to potentially challenge Ethereum.

Solana Blockchain Allegedly Raising Up To $450 Million As It Takes On Ethereum: Report

Solana, the blockchain network best known for powering FTX's decentralized exchange, is raising as much as $450 million. The post Solana is raising as much as $450 million in bid to take on Ethereum: report appeared first on The Block.

Solana is raising as much as $450 million in bid to take on Ethereum: report

Solana, the blockchain backed by FTX's Sam Bankman-Fried, is raising between $300 million and $450 million, according to a report Friday by Decrypt, largely citing anonymous sources.

Solana Blockchain Raising Up to $450M: Report

The sixteenth-largest cryptocurrency, which powers dapps on its network, is quickly recovering from the crypto market slump.

Solana Up 48% This Week As Smart Contract Platforms Lead Crypto Recovery

Solana's blockchain ambitions are growing as the scope of its projects expand.

Exclusive: Solana Is Raising Up to $450 Million to Challenge Ethereum

The launch comes only weeks after Solana drew $60 million in funding for projects in Brazil, Russia, India and Ukraine.

Solana Launches $20M Fund to Advance Ecosystem in Korea

“Metaplex will do for NFTs what Shopify did for commerce, but takes it one step further by not acting as the middleman,” said musician RAC.

Metaplex Foundation Launches Solana-Based NFT Marketplace

Solana is the latest blockchain to stand up an NFT offering. Its MetaPlex marketplace tool offers creatives low-cost and flexibility.

'Shopify for NFTs' Launches on Solana Blockchain

Two heavyweights of the crypto industry are contemplating whether Binance Smart Chain (BSC) and Solana (SOL) have the ability to overtake Ethereum as the leader in the decentralized finance (DeFi) space. In a new episode of The Unchained podcast, Kain Warwick, founder of derivatives liquidity protocol Synthetix, and Kyle Samani, managing partner of crypto-focused investment […] The post Can Binance Smart Chain and Solana Overtake Ethereum? Crypto Heavyweights Analyze the Future of DeFi appeared first on The Daily Hodl.

Can Binance Smart Chain and Solana Overtake Ethereum? Crypto Heavyweights Analyze the Future of DeFi

Solana (SOL) is an open-source project focused on facilitating decentralized app or DApp creation. It makes use of the permissionless nature of blockchains to provide decentralized finance or DeFi solutions.

EXCLUSIVE: Solana Says Scaling As 'One Global State' Sets It Apart From Ethereum, Polkadot, Other Rivals

A popular pseudonymous trader known in the industry as Flood says three altcoins will generate a massive amount of wealth for investors. The analyst tells his 146,000 followers that the three crypto assets to watch are FTX Token (FTT), Solana (SOL) and Nerve Finance (NRV). Over this decade the followers and speculators of @FTX_Official will […] The post Top Trader Says Three Altcoins Will Trigger One of the Largest Wealth Creation Cycles in History appeared first on The Daily Hodl.

Top Trader Says Three Altcoins Will Trigger One of the Largest Wealth Creation Cycles in History

DeFi traders using OpenOcean can now make swaps on Solana-based exchanges.

Exchange Aggregator OpenOcean Enables Trading on Solana Network

Accelerator DeFi Alliance, which has notable mentors including Coinbase, has backed the first Solana-based project — Mercurial Finance. The post DeFi Alliance backs Mercurial Finance, its first Solana project appeared first on The Block.

DeFi Alliance backs Mercurial Finance, its first Solana project

Coinbase is revealing plans to list the native token of scalable blockchain Solana (SOL) on the crypto exchange's professional-level trading platform Coinbase Pro. In a blog post, Coinbase says that the token will be listed sometime during the final seven days of May. SOL deposits on Coinbase Pro have already commenced. “Starting immediately, we will […] The post Coinbase Bump Alert – Top Crypto Exchange Listing One of 2021's Most Explosive Altcoins appeared first on The Daily Hodl.

Coinbase Bump Alert – Top Crypto Exchange Listing One of 2021's Most Explosive Altcoins

The global cryptocurrency market has a 13.6% increase in market capitalization over 24 hours.

Bitcoin, Ethereum Chart Major Recovery But These Cryptos Are Striking The Biggest Gains

Despite the rough crypto markets, trader Lark Davis says six digital assets have the potential to appreciate by ten times or more by the end of the year. Davis kicks off the list with layer-2 decentralized exchange protocol Injective Protocol (INJ) which he argues is currently discounted as its team prepares for launch. “I'm bringing […] The post These Six Crypto Assets Could Rise 10x This Year, Says Trader Lark Davis appeared first on The Daily Hodl.

These Six Crypto Assets Could Rise 10x This Year, Says Trader Lark Davis

The fund will focus on growing the Solana ecosystem in Brazil, India, Russia and Ukraine.

Solana Secures $60M Fund to Drive Growth in Emerging Markets

The funds are each bringing $20 million in investment to boost growth and development for Solana in the Chinese region.

5 New Funds Bring $100M to Boost Growth of the Solana Ecosystem

Burnt Finance, a Solana-based non-fungible token (NFT) minting and auction protocol, has raised $3 million in a seed funding round. The post Solana-based NFT project Burnt Finance raises $3 million in seed funding appeared first on The Block.

News for Solana Crypto (SOL)