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

Real Vision analyst Jamie Coutts believes the altcoin market is gearing up for a massive breakout against Bitcoin (BTC). The former Bloomberg analyst tells his 18,100 followers on the social media platform X that the altcoin season index, which measures the profitability of digital assets relative to BTC, could soon start flashing bullish for alts.

Altseason Signal Likely To Flash in Coming Weeks, Says Analyst Jamie Coutts – Here Are His Top Altcoin Picks

Ethereum

ARK Invest CEO Cathie Wood has stated that cryptocurrency has become a significant political issue in U.S. elections, leading to the unexpected approval of key Ethereum (CRYPTO: ETH) ETF filings. What Happened: Wood made this remark at Consensus 2024, as reported by CoinDesk, attributing the sudden approval of Ether ETF filings to the growing importance of cryptocurrency in U.S. election debates.

Cathie Wood Of Ark Invest Believes Ethereum ETF Approval Linked To US Politics, Sees Likelihood Of A Solana ETF As Well

Payments giant PayPal says that its stablecoin, PayPalUSD (PYUSD), is expanding onto the blockchain of smart contract platform Solana (SOL).

PayPal's PYUSD Stablecoin Set To Expand to Solana Blockchain, Says Payments Giant

Payments giant Paypal has made Paypal USD (PYUSD) available on the Solana blockchain, making the stablecoin “faster and cheaper to use.” Platforms like Crypto.com, Phantom, and Paxos are among the first to offer PYUSD on Solana, alongside Paypal and Venmo wallets. Paypal Makes PYUSD Available on Solana Blockchain Paypal Holdings Inc.

Paypal Expands PYUSD to Solana Blockchain for Better Payment Solutions

PayPal (NYSE:PYPL) is making a strategic move by adding its (CRYPTO: PYUSD) stablecoin to the Solana (CRYPTO: SOL) blockchain, a network known for its association with meme coins. What Happened: Initially launched on the Ethereum (CRYPTO: ETH) blockchain in August, PYUSD was subsequently added to PayPal's Venmo peer-to-peer payments service in September.

PayPal Launches PYUSD Stablecoin On Solana

After Pump.fun devs sexualized and harmed themselves on livestreams for money, the protocol has added streaming as a feature.

Solana Meme Factory Pump.Fun Adds Livestreaming Feature—What Could Go Wrong?

PayPal's stablecoin pegged to the U.S. dollar now runs on Solana too, expanding its reach following the initial Ethereum debut in 2023.

PayPal Expands PYUSD Stablecoin From Ethereum to Solana

PayPal is launching its stablecoin on Solana, with the aim of offering its token holders faster and cheaper transactions.

PayPal USD to go live on Solana blockchain

PYUSD has around 8,600 holders on the Ethereum blockchain and a market cap of a tick under $400,000

PayPal Makes Retail Stablecoin Play with PYUSD on Solana

Crypto holders on Solana will be able to move their assets to Arbitrum, Ethereum, Polygon and the 70 other chains it links to – and vice versa.

Crypto Bridge LayerZero Connects to Solana Blockchain

The Solana (SOL) community recently concluded a governance vote, resulting in a decision to allocate 100% of priority fees to validators.

Solana Governance Vote Approves 100% of Priority Fees to Validators, Raises Concerns of Inflation

In a remarkable showcase of growth and enthusiasm, Penguiana, the unique penguin-themed meme coin on the Solana blockchain, has successfully launched its $PENGU token on Raydium. Buy $PENGU here on Raydium. This milestone comes after a highly successful presale, confirming strong investor interest and community support.

Solana's Penguiana $PENGU Token Launch On Raydium Surpasses $1M Valuation, Sets Stage For GUIANA NFT Minting

Solana validators have voted to pass Solana Improvement Document number 96 (SIMD-0096), which proposes that 100% of priority transaction fees will be awarded to validators. This breaks the current model that passes only 50% of these funds to validators, while the other half gets burned. According to early estimations, this will increase inflation by 4.

Solana Passes Proposal to Assign 100% of Priority Fees to Validators

The validator says the proposal only fixes half the problem and others say removing the burn function will make SOL inflationary.

Why One Solana Validator Voted Against Increasing Priority Fees

The price of Solana (SOL) has fallen since reaching resistance at $188. The altcoin has pulled back above the moving average line. It is unclear whether the selling pressure will continue in negative territory.

Solana Stays Above $160 As Buyers Recover

An analyst who continues to build a following with contrarian crypto calls believes that Solana (SOL) is one more rally away from witnessing a total meltdown.

Crypto Strategist Issues Solana Warning, Says SOL Gearing Up for a Meltdown – Here's His Outlook

In a recent development, the creators of Solana-based (CRYPTO: SOL) CAT memecoin have been implicated in a hack of a crypto influencer's account. The coin tumbled sharply in response to the controversy.

Solana-based CAT Memecoin Crashes After Team Accused Of Hacking And Price Manipulation

Over 77% of Solana governance participants voted in favor of giving validators the full priority fee amount per transaction.

Solana Validators to Get More SOL as Fee Proposal Passes in Favor

Solana validators have approved Solana Improvement Document (SIMD)-0096, which proposes sending all transaction priority fees to validators.

Solana validators to receive full priority fees as SIMD-0096 proposal gains approval

Pepe

Crypto analyst Jason Pizzino says he's looking at four altcoins flashing signs of strength, which include Solana (SOL) and the memecoin Pepe (PEPE). In a new strategy session, Pizzino tells his 327,000 YouTube subscribers that alongside SOL and PEPE, derivatives platform Pendle (PENDLE) and decentralized GPU rendering blockchain Render (RNDR) have strong-looking market structures.

Analyst Jason Pizzino Names Four Strong Altcoins in the Market Including Solana (SOL) and Pepe (PEPE)

Global investment bank JPMorgan has expressed doubt that the U.S. Securities and Exchange Commission (SEC) will approve solana ETFs or any other spot crypto ETFs beyond bitcoin and ether.

JPMorgan Doubts SEC Will Approve Solana or Other Crypto ETFs

On May 26, the trader known as GCR was allegedly hacked, possibly by the team behind the Solana-based meme coin CAT, as suggested by onchain sleuth Zachxbt.

GCR's Hack Possibly Tied to Solana's CAT Coin Team, Onchain Sleuth Zachxbt Reports

After Caitlyn Jenner's Twitter account posted a Pump.fun link, someone has claimed to have deployed the token.

Meet the Crypto Promoter Who Says He Launched Caitlyn Jenner's Solana Meme Coin

SEAMM.io, the first fully phygital (physical + digital) fashion marketplace, is revolutionizing the fashion industry with the announcement of the Fashion Digital Product Passport (DPP) on the Solana blockchain at the Fashion Stage of NFC Lisbon.

Seamm Introduces Fashion Digital Product Passport (DPP) on Solana Blockchain

JPMorgan doesn't foresee the SEC approving additional crypto ETFs following spot Ethereum ETFs, Nikolaos Panigirtzoglou told The Block.

News for Solana Crypto (SOL)