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

Following its approval by the Brazilian regulator, the ETF is in a pre-operational phase, awaiting approval by Brazilian stock exchange B3.

Solana ETF Approved by Brazilian SEC

The price of Solana (SOL) is in a sideways trend, but is correcting upwards after a recent decline. Price analysis by Coinidol.com.

Solana Oscillates As It Challenges The Barrier At $155

Ethena Labs has announced the launch of its stablecoin, USDe, on the Solana network as of August 7.

Ethena Labs Brings Synthetic Stablecoin USDe to Solana

Ethereum

Solana (SOL) has reached an all-time high against Ethereum (ETH) as of August 7, with traders anticipating a potential surge to $200, a level last reached on March 18.

Solana Reaches New High Against Ethereum, SOLETH Eyes Potential Breakout

The Brazilian Securities and Exchange Commission (CVM) has approved a Solana-based exchange-traded fund (ETF), the agency disclosed in its central database.

Brazil's Securities and Exchange Commission Approves Solana-Based ETF

One Pacmoon team member claimed Blast created a system that 'disincentivized' native tokens on the blockchain.

Blast memecoin Pacmoon announces migration to Solana

The venture capitalist branch of the world's largest crypto exchange platform by volume is announcing a new investment into a Solana (SOL) staking protocol.

Binance Labs Announces New Investment in Solana (SOL) Staking Protocol

On Wednesday, Ethena Labs, the team responsible for the yield-bearing stablecoin project USDE, revealed its expansion to the Solana blockchain. This move brings USDE to the distributed ledger, with SOL now also being used as part of the stablecoin's reserve backing.

Ethena Labs Expands USDE to Solana, Reveals Gradual SOL Integration

Solana's (CRYPTO: SOL) strength against Bitcoin (CRYPTO: BTC) has caught the attention of cryptocurrency traders, who are questioning whether this strength can persist. What Happened: Crypto trader CrediBULL Crypto highlighted the potential for new local highs if Solana can surpass the current cluster of resistance.

Solana Outperforms Bitcoin Over The Past Month: What Does Technical Analysis Say?

Solana and its ecosystem tokens look attractive compared to other altcoins and is a "clear option if looking for longs" after the market turmoil, a K33 Research analyst said.

Solana Hits All-Time High Against Ether, Outperforms Bitcoin in Crypto Rebound

Solayer is the 13th largest protocol on Solana with over $150 million in total value locked (TVL), according to DeFiLlama.

Binance Labs invests in Solana restaking protocol Solayer

The company said it's confident the Solana integration will significantly increase adoption of its USDe stablecoin.

Ethena expands access to USDe with Solana integration, SOL added as backing asset

Memecoins have experienced a significant rebound after Monday's market downturn, with major cat-themed tokens seeing notable gains.

Memecoins lead crypto rebound as Solana-based DeFi recovers

Twelve assets in the CoinDesk 20 are trading higher, with SOL up 3.9% and BCH up 2.2%.

CoinDesk 20 Performance Update: SOL Leads with 3.9% Gain as Index Rebounds

Andrena has raised $18 million in new funding to develop DAWN (decentralized autonomous wireless network) on Solana.

Solana-based DePIN project Andrena raises $18 million to offer decentralized internet services

Bitcoin

Two of former U.S. president Donald Trump's sons, Eric and Don Jr.

‘Big Things Coming'—Crypto Suddenly Braced For Another Trump Bombshell After Wild Bitcoin, Ethereum, Solana And XRP Price Swings

Solana is up by double digits in the past day, as meme coins built atop its blockchain surged by 35% overnight.

Solana Price Jumps Double Digits as Pump.fun Meme Coins Surge

Network-based memecoins rose 30% in the past 24 hours, leading gains as a sector as optimism around SOL ETFs heats up among some.

Solana-Based Memecoins Surge as SOL Jumps 38% From Monday's Lows

The SOL/ETH ratio, which measures the value of Solana compared to Ether, has reached a new peak following a turbulent week in the cryptocurrency market.

SOL/ETH Ratio Hits Record High Amid Market Volatility

Solana prices have rallied over the last few days, rising sharply as cryptocurrencies and other risk assets recovered from the sell-off they suffered this weekend.

Solana Prices Surge Over 35% In Under 48 Hours As Markets Regain Their Senses

Anchorage began adding custody support for Solana-based tokens in 2022 and only added staking support last year

Crypto Bank Anchorage Adds Custody for Solana-Based Tokens

Asian stocks and futures jumped higher Tuesday, recovering from one of the worst slides in recent years in Monday's trading session.

Bitcoin Jumps Above $56K, Solana Leads Recovery From Monday's Rout

Solana (SOL)'s price dropped sharply on Monday amidst a market rout, plummeting to $110, a level last reached in March this year.

Solana Hits Lowest Price Since February, Memecoins Plummets Amid Market Turmoil

As Solana fell to its lowest price since February, meme coin mania hit a bump in the road, causing asset prices to plummet.

Solana Price Plunges 30% in a Week—And Its Biggest Meme Coins Are Down Worse

Amid macroeconomic turmoil and major crypto sell-offs, the market cap of Solana-based memecoins has experienced a significant downturn.

News for Solana Crypto (SOL)