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

In the wake of its CEO's resignation, Marginfi, a decentralized lending protocol on Solana (CRYPTO: SOL), has seen a substantial withdrawal of funds, totaling over $214 million. What Happened: Edgar Pavlovsky, the founder and CEO of Marginfi, decided to step down due to internal disagreements and controversy.

Solana DeFi Protocol MarginFi Experiences $214 Million Withdrawal After CEO Edgar Pavlovsky Steps Down

MarginFi, a prominent DeFi platform on the Solana network, experienced internal turmoil.

MarginFi CEO Resigns as Solana Lending Platform Faces Internal Woes

Anza, Solana's development and client team, deployed a congestion fix (via version 1.18.11) to the devnet.

Anza releases proposed congestion fixes on Solana devnet, asks validators to upgrade on testnet

Chainlink

A widely followed crypto strategist believes the token of one layer-2 blockchain project is among the best market performers. Pseudonymous analyst Altcoin Sherpa tells his 214,100 followers on the social media platform X that Mantle Network (MNT), an Ethereum (ETH) scalability solution, could soar beyond all-time highs (ATHs).

Trader Says This Ethereum-Based Altcoin ‘One of the Strongest Coins,' Updates Outlook on Solana and Chainlink

Solend and Kamino were the biggest winners in the Solana DeFi landscape.

Chaos at MarginFi Shakes up Solana DeFi's Borrow-and-Lend Landscape

A crypto trader made millions of dollars in profit on a Solana (SOL)-based memecoin in a matter of weeks, according to the digital asset tracker Lookonchain. Lookonchain notes that the trader spent 3,100 SOL worth $530,000 to buy 12.08 million Jeo Boden (BODEN) two days after BODEN went online last month.

Trader Nets Over 11x Profit on a Solana-Based Memecoin That's Exploded Over 2,500% in a Month: On-Chain Data

Solana lender MarginFi seems to be mending its relationship with SolBlaze, but it's still seen $214 million withdrawn since its CEO's resignation.

Solana Project Marginfi Withdrawals Top $214 Million After CEO's Resignation

"The main problem was our lack of organizational execution," MarginFi's longtime leader Edgar Pavlovsky told CoinDesk.

MarginFi Leader Resigns on Fiery Day for Major Solana Lender

Plenty of fingers have been pointed, but developers appear to be closing in on an update to help Solana's congestion issues.

Solana 'Sucks Right Now'—Devs Are Doing Something

The W token debuted last week with an impressive $3 billion market cap.

Wormhole's Solana Token Plunges 50% After Massive Airdrop

Bitcoin

Shiba Inu

A ton of tokens have made headlines in 2024, with some of the most discussed being Bitcoin (BTC), Solana (SOL) and Shiba Inu (SHIB). These tokens cover a wide range of use cases and purposes and have performed well to start the year.

Bitcoin Vs. Solana Vs. Shiba Inu: How Much You'd Have If You Invested $10,000 At The Start Of The Year

One Solana (SOL)-based altcoin is soaring after landing a surprise listing on Coinbase, the top crypto exchange in the US. In an announcement via the social media platform X, Coinbase says it's adding Shadow Token (SHDW) to its trading platform.

Solana Altcoin Rips After Earning Surprise Support From Crypto Exchange Coinbase

Blockchain security firm Blockaid said 50% of recent pre-sale token launches on Solana have been malicious.

Half of Solana Pre-Sales Are Scams, Blockaid Says

Solana meme coins have slipped overnight, as devs race to fix the congestion issues that have plagued the Solana network in recent weeks.

Dogwifhat Leads Solana Meme Coin Losses Amid Network Congestion

In a move aimed at accelerating transaction processing on the Solana blockchain, validators have voted in favor of a proposal that aims to reduce the latency of consensus "votes."

Solana Validators Approve Proposal To Enhance Transaction Speeds on the Blockchain

Shadow Token (SHDW), the native cryptocurrency of ShdwDrive, has experienced a 20% surge. This increase comes on the heels of an announcement that the token will be listed on Coinbase, the largest crypto exchange in the U.S. What Happened: Coinbase has plans to list Shadow Token (SHDW), provided liquidity conditions are met.

Solana-Based Shadow Token Surges Over 20% Ahead Of Coinbase Listing

A top crypto strategist who's been making timely altcoin calls as of late thinks that one Ethereum (ETH) challenger is close to printing a local bottom. Pseudonymous analyst Bluntz tells his 254,000 followers on the social media platform X that he's bullish on Solana (SOL).

Top Analyst Says Ethereum Rival Super Close to Bottoming Out, Sees One Altcoin Kicking Off NFT Season for Solana

The one-time “Ethereum killer” is indeed beating ETH as the preferred way to make stablecoin payments, say AllianceBernstein analysts.

Solana Dominates Ethereum in Stablecoin Payment Volume: Bernstein

A research report found that Solana (CRYPTO: SOL) has emerged as the new leader in the realm of blockchain payments. What Happened: In its new report, Bernstein, a research and brokerage firm, attributes Solana's success to its streamlined architecture, The Block reported.

Solana Challenges Ethereum's Lead In Blockchain Payments Race, Report Finds

Zeta Markets, a Solana-based decentralized exchange, is set to launch and airdrop 100 million Z tokens next month.

Solana DEX Zeta Markets set to airdrop 100 million Z tokens

The launch of governance token is part of a broader strategy that involves plans to release Solana's first layer 2 scaling solution, Zeta Markets said in the press release.

Solana-Based Zeta Markets Debuts Governance Token Z

The price of Solana (SOL) has fallen below the 21-day SMA after being rejected twice at the $210 resistance level.

Solana Price Collapses, But Holds On For $173

Bonk

The top ten Solana network memecoins continue to slide further, with Popcat and Wen experiencing double-digit declines.

Top Solana-based memecoins register price declines

Signs of a resurgence in the stablecoin market represents growth in liquidity and improved investor sentiment, the Bernstein analysts added.

Solana ‘leads the battle' for blockchain payments, Bernstein says

The tool has made over $5 million since going live in early March, with thousands of tokens issued daily.

News for Solana Crypto (SOL)