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

Wormhole will tap Solana-based protocols to verify user's Worldcoin World IDs that were originally verified on Ethereum.

Solana Will Get Support for Worldcoin's World ID

The Solana (CRYPTO: SOL) ETF application by VanEck has sparked a 9% rally on Thursday, with traders debating whether more upside is to come. What Happened: Crypto trader Ng Ah Sio shared that he had been increasing his Solana holdings since it touched support zone.

Solana's 9% Gain Means It Will Be 'The Fastest Horse If Risk-On Sentiment Returns,' Says Trader

It's unlikely VanEck's bid to be first to market with an ETF for Solana will be approved in the short term, experts say.

Crypto pundits doubt Solana ETF will find approval any time soon — at least under this administration

Following Vaneck's application with the U.S. Securities and Exchange Commission (SEC) to launch a solana-based exchange-traded fund (ETF), solana has appreciated 8.1% against the U.S. dollar. Apart from bitcoin, ethereum, and stablecoins, solana now boasts the highest daily trade volume among all other crypto assets on market aggregation platforms.

Solana Climbs 8.1% Following Vaneck's SEC Filing for SOL-Based ETF

Solana (CRYPTO: SOL) investors saw a price surge of over 6% on Thursday after asset manager VanEck filed an S-1 registration form with the SEC for a Solana exchange-traded fund (ETF). What Happened: This marks the first attempt at a Solana ETF in the U.S., following a similar product launch in Canada just six days prior.

VanEck Files Solana ETF Application, SOL Rallies 6%

GSR trumpeted Solana's “superior technology” and a changing U.S. political landscape for why a spot SOL ETF could be next in line.

Market maker GSR goes long on SOL, expecting it to outperform BTC

Solana's price jump comes as a response to VanEck's filing for a spot Solana ETF, marking a potential shift in the cryptocurrency's market trend.

Solana Price Spikes After VanEck Files for First ETF in US

In a significant expansion of its cryptocurrency offerings, Vaneck has announced the filing of the first U.S. exchange-traded fund (ETF) focused on Solana. This move marks a strategic enhancement of Vaneck's digital asset products, according to Matthew Sigel, head of digital asset research.

Vaneck Seeks SEC Approval for Solana-Based ETF

Solana surged over 6% minutes after VanEck filed a spot Solana ETF with the Securities and Exchange Commission.

SOL spikes 6% following VanEck's spot Solana ETF filing

The filing, submitted on Thursday, June 27, 2024, marks the first attempt to create a Solana ETF in the United States.

VanEck Files for Solana ETF in the US

Solana ETFs could be the next big push after Bitcoin and Ethereum approvals in the United States, as VanEck files for the first attempt.

VanEck Files for Solana ETF in US, Following Bitcoin and Ethereum Approvals

Fund manager VanEck filed for an ETF that would track the price of Solana, according to a filing released on Thursday.

VanEck files for Solana ETF in the US, claiming SOL is a commodity

Asset manager VanEck has filed an S-1 registration form for a Solana exchange-traded fund (ETF), prompting SOL to jump by more than 5%.

VanEck Files for Solana ETF, SOL Rises 6%

Investment manager VanEck filed to list an exchange-traded fund (ETF) tied to the spot price of crypto token Solana, according to a regulatory filing on Thursday.

Investment manager VanEck files to list spot Solana ETF

Under the Biden administration, Solana (SOL) appears nowhere close to getting its own ETF in the U.S. But, according to market-making firm GSR, if Donald Trump retakes the White House, it might be closer than many observers think and price-wise have far more upside than bitcoin (BTC) did when its spot ETF debuted.

Solana ETFs and Huge SOL Gains a Real Possibility Under Trump, Major Crypto Trader Says

Pump.fun has been making up, on average, 35% of Solana's total fee revenue over the past two months.

Pump.fun's daily fees plummet 30% amid market turbulence and SOL decline

The official X account of the world-famous heavy metal band, Metallica, was exploited to promote a Solana (CRYPTO: SOL)-based memecoin. What Happened: Widely-followed cryptocurrency influencer Ricards posted late Tuesday night about the scam, sharing a now-deleted post that showed hackers falsely advertising a token called METAL, in collaboration with ticketing giant Ticketmaster and cryptocurrency payments platform MoonPay.

Crypto Scam: After Rapper 50 Cent, Heavy Metal Band Metallica's Social Media Hacked To Promote Solana-Based Memecoin

The Solana Foundation has unveiled a feature designed to seamlessly connect its blockchain to any website via a shareable link.

Solana Foundation Introduces 'Blinks' to Simplify Blockchain Transactions

The epicenter of the latest "meme coin" hype, Solana is introducing new tools designed to make crypto trading more accessible.

Solana Adds 'Blinks' and 'Actions' So Users Can Trade Crypto On Their Favorite Social Apps

Bitcoin

Bitcoin bounces above $61,000, Solana leads cryptocurrencies higher

Light Protocol and Helius Labs have introduced a new feature that aims to allow developers to build applications on Solana (SOL) at scale. Mert Mumtaz, chief executive of Helius, a Solana developer optimization service, says the new ZK compression feature will reduce costs directly on the project's layer-1 without requiring layer-2s.

ZK Compression Now Available to Solana (SOL) for 10,000X Scale Improvements, Says Helius CEO

Colosseum, a Solana-focused crypto accelerator, has raised $60 million for its first fund to back early-stage startups.

Solana accelerator Colosseum raises $60 million for its first fund

The new Actions and Blinks features are aimed at "putting the crypto back into crypto Twitter," Solana Foundation head of engineering told Decrypt.

Solana Foundation Launches Social Media Features Aimed at 'Putting Crypto Back in Crypto Twitter'

The new tools are similar to Frames on Farcaster, but are designed to work on any website, including social media platform X.

Solana Foundation unveils tools that turn any website or app into starting point for crypto transactions

The Solana Foundation, a non-profit organization focused on the Solana (CRYPTO: SOL) network, on Tuesday unveiled two new developer tools aimed at simplifying blockchain transactions and expanding adoption. Solana Actions and blockchain links (blinks) are designed to integrate blockchain functionality into everyday digital experiences.

News for Solana Crypto (SOL)