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

President Joe Biden has announced that he will not seek reelection in 2024. In a letter posted on his official X account, Biden expressed his belief that stepping down is in the best interest of his party and the country.

Biden Withdraws From 2024 Race: What That Means For Solana ETF Prospects

Avalanche

AVAX led the CoinDesk 20 with a 14.5% increase in over the weekend trading, while SOL climbed 6.0%

CoinDesk 20 Performance Update: AVAX and SOL Surge Lead Weekend Advance

The total value of tokens locked on Solana has increased over 25% in a month, crossing the $5.28 billion mark to levels not seen since April 2022, data tracked by DefiLlama show.

Solana ETF Hopes, Rising Fundamentals Are Driving SOL Prices Higher, Traders Say

Ethereum

Digital asset investment products attracted another $1.35 billion in net inflows last week, according to CoinShares.

Global crypto investment products' inflow streak tops $3 billion as Ethereum overtakes Solana YTD: CoinShares

Will this be like May 2019 all over again? "BTC also had an explosive move back then too, and ALTs could just not keep up," writes one analyst.

Solana Soars 4% as Meme Coins and Alts See an Uptick

POPCAT become the first cat-themed meme coin to hit $1 billion market capitalization, a resolved Polymarket bet shows.

Popcat Crosses $1B, Mog Rallies as Solana, Ethereum Beta Bets Gain Favor

On July 21, 2024, a Sunday evening around 8:30 p.m. Eastern Time, presidential meme coins experienced notable fluctuations. A Solana-based meme token called kamala horris (KAMA) surged over 78% within 24 hours, while crypto coins linked to the Biden family saw a steep decline.

Solana-Based Kamala Token Soars as Biden-Linked Meme Coins Tumble After Race Withdrawal

Bitcoin

Crypto investor Chris Burniske says that Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and the crypto market in general look ready to make a run.

Bitcoin, Ethereum, Solana and Crypto Markets Look Ready To ‘Send' As Stars Align, According to Investor Chris Burniske

Friday's crypto rally defied past days' correlation with U.S equities, which continued their losing streak.

Bitcoin Tops $66K as Cryptos Rally Amid Global IT Outage; Solana's SOL Leads Altcoins

The CoinDesk 20 Index saw a 1% increase, driven by strong performances from SOL and APT.

CoinDesk 20 Performance Update: SOL Jumps 4.1% Amid Broad Market Uptick

Dozens of new crypto tokens themed after internet services company CrowdStrike and the popular Microsoft “Blue Screen of Death” (BSoD) error were issued on Ethereum and Solana blockchains amid a reported global internet outage that has impacted several real-world services.

CrowdStrike, Windows BSoD Meme Tokens Populate Solana and Ethereum Amid Global Internet Outage

The company also added Solana and Core to its balance sheet for the first time, calling them “complements” to Bitcoin.

DeFi Technologies Doubles Bitcoin Treasury Holdings and Adds Solana and Core

Leading overnight gains are SOL with a 2.5% increase and ETH up by 1.3%.

CoinDesk 20 Performance Update: SOL and ETH Lead Advancers as Index Stays Flat

The disconnect between transaction volume within the network and the market capitalization of SOL raises questions.

As Solana activity soars thanks to memecoins, its market cap remains grounded

The price of Solana (SOL) has recovered and risen above the moving average lines.

Solana Gains Momentum Again Above The $155 Mark

A closely followed analyst thinks Solana (SOL) may be repeating a pattern witnessed three years ago before the smart contract platform surged to its all-time high.

‘Time Is a Flat Circle' – Analyst Sees Solana (SOL) Mirroring 2021 Price Action That Led to Nearly 980% Rally

The firm now holds $14 million worth of SOL — up from “nil” just months ago.

Cypherpunk Holdings ‘significantly' ups its Solana holdings

Online vendors in the region can reportedly now add a widget on their sites for users to purchase cryptocurrencies.

Stripe enables Bitcoin, Ether and Solana crypto purchase options in EU: report

Solana (CRYPTO: SOL) is well-positioned against Ethereum (CRYPTO: ETH), according to the analysis of a prominent industry expert. What Happened: According to Coin Bureau CEO and co-founder Nic, Solana is already outperforming Ethereum.

Solana 'No Longer In Ethereum's Shadow, SOL Could Outperform ETH,' Says Expert

The $53 billion meme coin sector rose by more than 12% on Tuesday with the likes of pepe (PEPE) and dogwifhat (WIF) surging by 22% and 25% respectively, data from CoinGecko shows.

Meme Coins Outperform BTC, ETH and SOL as Traders Rotate Holdings

SOL's months-long triangular price consolidation could bring good news for the bulls.

Crypto Traders Search for Clues in Solana's Triangle Pattern

Influential cryptocurrency analyst Ali Martinez predicts a bullish run for Solana (CRYPTO: SOL), often touted as an ‘Ethereum (CRYPTO: ETH) killer,' amid growing market optimism around the digital asset. What Happened: On Monday, Martinez posted his optimistic prediction for Solana on X, formerly Twitter.

'Ethereum Killer' Solana Could Soar To $174, Says Popular Crypto Analyst After Identifying This Bullish Pattern

Solana (SOL) has seen a 3.8% increase over the past 24 hours as the market rallies following the failed attempt to assassinate former President Donald Trump.

Solana and SOL-Based Memecoins Surge Amid Market Upturn Following Trump Assassination Attempt

Solana (CRYPTO: SOL) could reach 50% of Ethereum's (CRYPTO: ETH) valuation in this cycle if trader's latest price predictions come true. What Happened: Syncracy Capital's Daniel Cheung stated that with Solana closing the week on a bullish note, it is looking exciting again.

Solana Up 7% And Could Get To 50% Of Ethereum's Valuation As 'Most Liquid Election Proxy In Crypto,' Trader Says

After suffering third degree burns to pump his meme coin, DARE, the Solana dev is planning a world tour and aiming to climb Mount Everest.

News for Solana Crypto (SOL)