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

Solana (SOL) continues to trade above $128 support but below $180 resistance. Price analysis by Coinidol.com.

Solana Rebounds Over $128 As The Bulls Mount A Strong Defense

A closely followed analyst says altcoins showing relative strength amid the latest crypto correction will be the first to print new highs this year. Analyst Jason Pizzino tells his 108,800 followers on the social media platform X that he's keeping an eye on altcoins that are printing bullish higher low setups.

Trader Jason Pizzino Says Solana and One Additional Altcoin Will Be First To Break Out Into New Highs This Year

In a surprising twist that captured the attention of both the music and cryptocurrency world, SoundCloud rapper Lil Pump added a new piece of ink to his iconic collection. Pump's newest body art features the Solana (SOL) logo along with "Solana" printed across his forehead.

Ink And Innovation: Lil Pump's Solana Tattoo Highlights Celebrities' Growing Influence In Crypto

Bonk

Falling Bitcoin prices have prompted a dump in the altcoin market, but that is not the only reason behind their poor performance, according to a new 10x Research report. The report highlights several key reasons behind the crash.

Solana Down, Floki, Bonk Crashing: What Is Going On With Altcoins?

Sonic, a Solana Layer 2 network focused on gaming, has raised $12 million in a Series A funding round led by Bitkraft Ventures.

Solana Layer 2 Sonic raises funds at $100 million token valuation

The Series A round was led by Bitkraft and joined by investors including Galaxy Interactive and Big Brain Holdings, according to a press release.

Sonic, Gaming-Focused Layer-2 Chain on Solana, Raises $12M

Dogecoin

The latest price moves in bitcoin (BTC) and crypto markets in context for June 18, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Crypto Majors Slide Further; SOL, DOGE Among Worst Affected

The collectibles platform is hoping the mobile app will make it easier to digest new types of content, such as podcasts.

Solana creator platform DRiP Haus targets July for mobile app release, says founder

Bitcoin

Few catalysts to prop up markets in the near-term are likely weighing down token prices, one trader said.

Dogecoin, Solana Lead Crypto Majors Plunge as Bitcoin Falls Below $66K

With zero evidence of a Trump link, one Solana meme coin has more than doubled in price and seen $129 million in trades based on a rumor.

Trump Meme Coin DJT on Solana Skyrockets Amid Rumors It's Official Token

dogwifhat

A trader known for making timely altcoin calls thinks that one memecoin is gearing up for a big upside burst. Pseudonymous analyst Bluntz tells his 261,500 followers on the social media platform X that while he's medium-term bearish on meme token dogwifhat (WIF), he thinks the altcoin is poised for a big bounce.

Top Crypto Analyst Predicts 50% Rally for Solana-Based Memecoin – Here Are His Targets

The former president's son Barron is spearheading the project, Pirate Wires reported on X, without naming its sources.

'DJT' Solana Token Surges on Unconfirmed Report Trump's Behind It

The price of Solana's native token, SOL, has experienced a significant drop of 7.22% in the past 7 days, reaching $150.33 on June 17.

Solana's SOL Token Falls Amid Market Correction and Competitive Pressure

American rapper Lil Pump recently took to Instagram to showcase what appears to be a new tattoo dedicated to the blockchain platform Solana.

Lil Pump Flaunts New Solana Tattoo, While Celeb Coins Take a Hit

Only1 is a crypto-fueled OnlyFans alternative on Solana—and already, people are shelling out big bucks to get closer to creators.

Would You Pay $40K in Solana for a Date With a Playboy Playmate?

Ethereum

A widely followed trader and analyst says that blue skies are ahead for a large-cap altcoin even amid a marketwide correction.

Trader Says Top-10 Altcoin Looks ‘Incredibly Strong,' Updates Outlook on Ethereum, Solana and Render

MOTHER—a meme coin launched by rapper Iggy Azalea—has plummeted by 38% in the past 7 days.

GameStop Solana Meme Coin GME and Iggy Azalea's MOTHER See Big Weekly Losses

A widely followed trader and analyst is updating his outlook on a medium-cap crypto asset that has skyrocketed by quadruple-digit percentage points since January.

Trader Updates Outlook on Altcoin That's Up Over 1,400% Year-to-Date, Says Solana Destined for ‘Bigger Things'

Solana Labs, the company behind the layer-1 blockchain Solana, is set to transform the way brands engage with their customers through its latest offering, Bond.

Solana Labs Launches Blockchain-Based Customer Loyalty Platform

CrediBULL Crypto recently shared his insights on the critical levels of Solana (CRYPTO: SOL) and Dogecoin (CRYPTO: DOGE), hinting at potential market movements. What Happened: CrediBULL Crypto discussed the precarious positions of SOL and DOGE, noting that both cryptocurrencies have reached their "make it or break it" levels.

Dogecoin, Solana At 'Make It Or Break It Level' Before Potential 'Meltdown,' Says Trader

Solana Labs announced the launch of Bond, a platform that uses blockchain and cryptocurrency structures to establish links between brands and their customers. Bond will offer different features, including digital collectives, authentication of luxury goods, and digital passports for products, all built on top of the Solana blockchain for low costs and scalability purposes.

Solana Labs Launches Bond, a Blockchain Digital Customer Engagement Platform

Payments can be made in Solana or BONK, for example, and buyers can access NFT airdrops and token-gated features.

Shopify Now Supports Hundreds of Crypto Tokens Through Solana Pay via Helio

A recent change implemented by Elon Musk on X (formerly Twitter) making user “likes” private, has ignited controversy within the cryptocurrency community, with industry stalwarts opposing the move. What Happened: Mert Mumtaz, co-founder and CEO of Helius expressed his strong disapproval, saying “This is the dumbest change ever.

Elon Musk's Decision To Hide Likes On X: 'Catastrophic For Crypto,' Says Solana VC

A popular crypto analyst and trader says that one Ethereum (ETH) rival is facing a decisive moment. Pseudonymous crypto strategist Credible Crypto tells his 396,500 followers on the social media platform X that if Solana (SOL) fails to hold $140 as support it could plummet.

Analyst Says Top Ethereum Rival at ‘Make It or Break It' Level, Updates Outlook on Bitcoin and Dogecoin

Stablecoin issuer Circle announced the expansion of its Web3 service to Solana (CRYPTO: SOL), providing developers on the blockchain with enhanced features needed to launch decentralized apps. What Happened: According to a blog post on Wednesday, the company behind the second-largest stablecoin, USD Coin (CRYPTO: USDC), announced the launch of Programmable Wallets and Gas Stations on Solana.

News for Solana Crypto (SOL)