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

A Solana-based (SOL) decentralized rendering altcoin is trading sideways despite the news that the top US crypto exchange platform would be adding support for it.

Solana-Based Decentralized Rendering Altcoin Offers Tepid Response to Coinbase Listing News

Widely followed economist Alex Krüger believes one Ethereum (ETH) rival is undervalued as its ecosystem buzzes with activity. In a new interview with Bitcoin Suisse's podcast Verified, Krüger says that Solana (SOL) has a livelier ecosystem than ETH's and also greater potential. He predicts long-term upward momentum for SOL.

Economist Alex Krüger Says Ethereum Rival With ‘Absolutely Massive' Ecosystem Is Underpriced Relative to ETH

Solana Mobile, Solana Labs' smartphone subsidiary, processed over $20 million in payments in alliance with Shopify and USDC, the second-largest dollar-pegged stablecoin. Anatoly Yakovenko, a co-founder of Solana Labs, explained that 51% of Chapter 2's payments were completed using USDC, with no payment processing fees associated.

Solana Mobile Processed Over $20 Million in Payments Using USDC With No Processing Fees

A widely followed cryptocurrency analyst and trader is predicting more upside for an altcoin that has soared by triple digits over the past couple of months.

Solana Rival That's Exploded Over 5x in Three Months Could Surge by More Than 150%, According to Top Analyst

The present bias towards long positions means potential for a long squeeze, where investors who hold long positions feel the need to sell into a falling market to cut their losses.

Solana's SOL Futures Rack Up $1B in Record Bullish Bets

Bitcoin

Ethereum

Market indicators are all green, but there are reasons to be bullish beyond how they mirror what Bitcoin does.

Ethereum and Solana Post Big Gains, Following Bitcoin Bullishness

Solana (CRYPTO: SOL) co-founder Anatoly Yakovenko sparked discussions on blockchain's role in e-commerce, sharing the success story of their recent mobile phone sales. What Happened: Partnering with web3 payment platform Helio, Solana pre-sold 100,000 "chapter 2" phones, raking in a staggering $45 million.

Solana Mobile Sales Highlight Potential Of Blockchain Payments, Generating $45M With Zero Fees

Have Magic Eden's “Diamonds” made a dent in the NFT marketplace standings? Here's what the latest data shows.

Points Season: Who's Winning the NFT Marketplace Wars on Ethereum, Solana, and Bitcoin?

Solana's "Dogecoin killer" dogwifhat (CRYPTO: WIF) clocked a 23.2% gain in the past 24 hours, powered by Bitcoin cracking the $52,000 mark. What Happened: Dogwifhat surged into the top five memecoins by market capitalization, based on CoinGecko data.

Dogwifhat Up 23% As This Solana Darling Ranks 5th By Memecoin Mcap: 'The Doge Of This Cycle,' Says Crypto Expert

Avalanche

A closely followed crypto strategist says he's gobbling up seven altcoins as he believes the markets are about to enter a bull market cycle similar to the parabolic rally witnessed in mid-2020.

Top Trader Abruptly Accumulates Seven Crypto Assets, Says ‘Craziness Period' Similar to 2020 Bull Cycle Ahead

Solana Mobile, a smartphone-focused subsidiary of Solana Labs, has announced that its second mobile phone, Chapter 2, has reached 100k preorders in less than 30 days, hitting a milestone that now guarantees the production of the hardware device.

Solana Mobile's Chapter 2 Reaches 100K Preorders, Guarantees Production

Dogecoin

A new canine-themed cryptocurrency named Dogecoin has made a leap in value on the Solana (CRYPTO: SOL) network, skyrocketing by 9,400% in just a single day. What Happened: Data from dextools shows that Dogecoin doppelganger's total market capitalization stands at $160,690, with liquidity reaching $24,600 and a 24-hour trading volume of $5.15 million.

Dogecoin Doppelganger On Solana Network Skyrockets 9400% In A Single Day

The CoinDesk 20, a liquid index of the top twenty cryptocurrencies, rose 4% in the past 24 hours.

Solana Leads Gains in Crypto Majors, Bitcoin Metric Suggests Low Retail Growth

Solana (CRYPTO: SOL) killer Sei Network's token, SEI (CRYPTO: SEI), has seen a surge of 13% today, outperforming major cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) in the last 24-hours. What Happened: At the time of writing, BTC and ETH were up 2-4% in the last 24 hours.

'Solana Killer' Outperforms Bitcoin, Ethereum With 13% Surge: Analyst Says 'Psychological $1 Zone Next Stop' For SEI

Litecoin

Wealthy crypto investors are moving hundreds of millions of dollars worth of digital assets, including Bitcoin (BTC) and Ethereum (ETH), as a new week begins. According to the address tracker Whale Alert, crypto whales have abruptly shifted $350 million worth of virtual currencies in the last 36 hours.

Whales Abruptly Move $350,000,000 in Bitcoin, Ethereum, Solana, Litecoin and XRP – Here's Where the Crypto Is Headed

The price of Solana (SOL) has risen above the moving average lines, indicating a new uptrend. SOL price analysis by Coinidol.com.

Solana's Price Exceeds The Overhead Resistance Of $107

Solana Mobile's "chapter 2" smartphone could ship in early 2025.

Solana's Second Phone Crosses 100,000 Presales, Securing $45M for Development

A crypto strategist known for calling Bitcoin's (BTC) 2018 market bottom thinks that Solana (SOL) looks ripe for a big move to the upside. Pseudonymous analyst Bluntz tells his 239,500 followers on the social media platform X that Solana appears to be in the midst of a wave-three rally.

Analyst Who Nailed Bitcoin 2018 Bottom Predicts Rallies for Solana and One SOL Competitor – Here's His Outlook

Both Bitcoin and Solana cleared 11% gains over the past seven days, and Ethereum did nearly as well.

This Week in Coins: Bitcoin and Solana Jump, Rest of Crypto Market Rises

Crypto analytics firm Santiment says it has a bullish forecast for Ethereum (ETH) competitor Solana (SOL) despite the smart contract platform suffering a major outage earlier this week. On Tuesday, the Solana mainnet encountered a problem that caused the network to be offline for five hours, according to Solana Status, a SOL tracker and explorer.

Solana One of the Few Altcoins To Outperform Bitcoin This Week Despite Tuesday's Network Outage: Santiment

A top cryptocurrency analyst and trader is predicting that a Solana (SOL) ecosystem memecoin could appreciate by triple digits. The crypto strategist pseudonymously known as Bluntz tells his 239,300 followers on the social media platform X that a downtrending three-wave pattern on the daily chart of the memecoin dogwifhat (WIF) might be over with.

This Solana-Based Altcoin Could Explode by Over 250%, According to Analyst Who Nailed 2018 Bitcoin Bottom

Abu Dhabi Global Market (ADGM) and the Solana Foundation have joined forces to accelerate the development of distributed ledger technology (DLT) in the Middle East.

Abu Dhabi Partners With Solana Foundation To Drive Distributed Ledger Technology Development

Solana (CRYPTO: SOL) defied an outage and is up 5% on the day, underscoring bullish sentiment among cryptocurrency traders. What Happened: While the Solana outage caused prices to drop briefly, it marked a local bottom.

Solana Up 5%, Overcomes Outage Concerns As Analyst Says It Will 'Rally Higher Again'

The broader altcoin market also showed signs of rebounding from oversold levels, one analyst noted.

Solana Gains More Than Bitcoin as Trader Speculates an 'Extreme Move' Is Ahead

Matthew Sigel, head of digital assets research at Vaneck, revealed that there is speculation around the cause of the latest Solana outage, which stopped its blockchain by five hours. Sigel explained that the bug that created this service interruption was related to the Berkley Packet Filter (BPF) and that it might have been manually triggered.

News for Solana Crypto (SOL)