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

The move to spark increased innovation comes as the Paradigm-backed Kalshi experiences an uptick in monthly trading volume.

Kalshi partners with Solana and Base to boost ‘onchain innovation' as platform closes gap with Polymarket

Bitcoin

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Daily: OG bitcoin whale's 1,000 BTC move, XRP treasury firm's 65% discount, Forward Industries' $4B ATM for SOL, and more

The new contracts will include both standard and micro-sized options on SOL and XRP futures, CME Group said.

CME Group plans to launch options on Solana and XRP futures next month

Forward Industries (FORD), a publicly-traded design and manufacturing firm that's building out a solana (SOL) treasury, has filed a $4 billion at-the-market (ATM) equity offering program with the SEC.

Forward Industries Launches $4B ATM Offering to Expand Solana Treasury

Forward Industries seeks $4 billion to double down on Solana as treasury companies follow MicroStrategy's playbook for crypto accumulation strategies.

Solana Treasury Firm Holdings Could Double as Forward Industries Unveils $4 Billion Raise

Ethereum

Ethereum (ETH) and Solana (SOL) remain two of the most influential blockchains in decentralized finance. Both are competing for developer attention, user adoption, and the capital that flows through decentralized applications.

Solana vs Ethereum: Which Chain Is Winning the Battle For DeFi Liquidity?

After raising $1.65 billion from a PIPE, and buying $1.58 billion worth of SOL, Forward Industries wants to raise $4 billion to support its Solana strategy.

Forward Industries doubles down on Solana strategy with $4 billion equity offering

Helius Medical has raised over $500 million in an oversubscribed offering to launch a solana-focused treasury vehicle, positioning SOL as its primary reserve asset with plans to leverage its yield and onchain growth.

Helius Secures Over $500 Million to Build Solana Treasury

Avalanche

Ava Labs, the main developer firm behind the Avalanche blockchain, shared Wednesday that it had appointed Arielle Pennington as their senior vice president of growth.

Solana Veteran Joins Ava Labs to Spearhead Avalanche Growth

Pantera Capital founder Dan Morehead revealed the firm's largest position is in solana, now worth $1.1 billion, citing its four-year outperformance against bitcoin. He also forecasted that bitcoin could surge to $750,000 within five years as adoption deepens.

Pantera Capital Reveals $1.1 Billion Solana Portfolio

Bonk

The company said it holds over 2 million SOL, which would make it one of the largest Solana-based DATs around.

Solana treasury Sharps inks staking partnership with Bonk

According to CoinDesk Data, Solana's SOL traded at $232.11 as of 12:30 UTC on Sept. 16, holding relatively firm after a choppy day that saw prices test both the $230 and $238 levels.

SOL Stronger Bet Than ETH as SOL Holds Key Support, Says Analyst

This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

Bitcoin Again Runs Into 2017-21 Trendline, SOL Flashes 'Shooting Star' Warning

Pantera Capital founder Dan Morehead revealed that the firm's $1.1 billion in Solana is the largest crypto position on its books.

Pantera founder says Solana is firm's biggest crypto bet with $1.1 billion position

Forward Industries makes a big entrance into the SOL treasury playbook with a $1.58 billion purchase.

Solana News: SOL Hits 8-Month High as Treasuries Cook and USD1 Gives Rewards

Suddenly, it's all about Ethereum rival Solana and its native token SOL as the broader market holds its breath ahead of Wednesday's Federal Reserve rate decision.

Solana Steals the Spotlight as Fed Rate Cut Nears: Crypto Daybook Americas

Anthony Scaramucci, the founder and managing partner of SkyBridge Capital, congratulated Pantera Capital, Summer Capital and Helius Medical Technologies, Inc. (NASDAQ:HSDT) Monday on their plans to build a Solana (CRYPTO: SOL)-focused digital asset treasury company. HSDT is charging ahead with explosive momentum.

Anthony Scaramucci Congratulates Helium Medical, Pantera Capital On $500 Million Solana Treasury Move

Medical devices firm Helius is pivoting to Solana, raising $500 million to start a SOL treasury—and its stock price skyrocketed.

Helius Shares Pump 141% Amid $500 Million Raise for Solana Treasury

Dogecoin

Despite traditional September weakness, crypto majors like Solana and Dogecoin are inching higher as the Fed weighs rate cuts. Here's what the charts say.

Dogecoin and Solana Look Poised to Break September Crypto Curse: Analysis

Forward Industries said it now holds 6,822,000 solana ( SOL) after initiating a Solana-focused corporate treasury program and beginning to deploy proceeds from a recently closed $1.65 billion private investment in public equity (PIPE).

Forward Industries Discloses 6.8 Million SOL as Solana Treasury Plan Begins

Forward Industries announced a purchase of nearly 7 million SOL, becoming the largest publicly traded Solana treasury firm—by far.

Solana Gets First Billion-Dollar Publicly Traded Treasury as Forward Industries Buys 6.8M SOL

Digital asset treasuries (DATs), publicly traded firms that hold crypto on their balance sheets, have been hit hard in recent weeks as their market NAVs (mNAVs) slid below 1, Standard Chartered's Geoff Kendrick said in a new report.

Ether Bigger Beneficiary of Digital Asset Treasuries Than Bitcoin or Solana: StanChart

Forward Industries Inc (NASDAQ:FORD) has acquired 6.8 million Solana (CRYPTO: SOL) tokens for approximately $1.58 billion at an average price of $232 per token, marking the initial deployment of its $1.65 billion fundraising round as the company positions itself as “the leading Solana treasury company.” The purchases represent the first major execution of Forward Industries' Solana-focused treasury strategy, funded through a private investment round led by Galaxy Digital, Jump Crypto, and Multicoin Capital that closed Sep. 11.

Forward Industries Buys $1.58 Billion In SOL, As Michael Saylor's Strategy Continues BTC Accumulation

Helius joins the growing ranks of Solana treasury companies, alongside Forward Industries, Sol Strategies, and DeFi Development Corp.

Helius Medical Technologies soars 250% on $500M Solana treasury raise led by Pantera, Summer Capital

Helius Medical Technologies (HSDT) announced on Monday it's raising more than $500 million in a private financing round to create a Solana-focused treasury company.

News for Solana Crypto (SOL)