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

Bonk

From BONK making wild moves to Trump offering a dinner date to Mugshot NFT buyers, here is a 4-minute breakdown of everything important that happened in crypto this week.

Week in Crypto: SafeMoon Declares Bankruptcy, BONK Revives Solana's Phone, HTX Sees Massive Outflows

Binance's announcement to list Solana's (CRYPTO: SOL) BONK (CRYPTO: BONK) has sent its value soaring, surpassing the $0.000029 mark – recording a 950% surge within a month. What Happened: Amidst this rise,on-chain data spotted by Lookonchain shows one trader cashing out 52.3 billion BONK at approximately $927,000, securing a profit near $784,000.

This Crypto Trader Made Over $800K In Profits After Binance Announced Listing Solana's Meme Coin BONK

The Solana (CRYPTO: SOL) network's developers are celebrating a windfall, thanks to a BONK token airdrop they received last Christmas. The initial worth of the airdrop was a mere $300, but it has now skyrocketed to an impressive $500,000.

BONK Mania: How A $300 Christmas Gift To Solana Developers Snowballed Into $500K

The recent rally in the price of bonk tokens has created a strange price arbitrage, leading to high sales of the Solana phone.

Solana phone sells out in US as traders spot arbitrage with bonk's skyrocketing price

The Saga phone, once facing lackluster sales, is now witnessing a surge in demand due to the memecoin BONK.

Solana's Saga Phone Sales Surges Thanks to BONK Memecoin

Solana prices have experienced some compelling upside in the last 48 hours, rallying as the highly visible cryptocurrency benefits from a variety of positive developments.

Solana Prices Surge Over 15% As Multiple Bullish Factors Fuel Latest Gains

The Solana (CRYPTO: SOL) blockchain-powered smartphone, Saga, has seen a surge in sales, thanks to an airdrop of over 30 million BONK (CRYPTO: BONK) tokens specifically for Saga phone owners. The increase in demand is a sharp shift from previous lackluster interest in the device.

Solana's Saga Smartphone Sales Soar Tenfold, Nearing Sell-Out, Amid Ongoing BONK Mania

Solana's Sage phone is seeing a surge in sales on the backs of arbitrage traders chasing a lucrative BONK payout.

Sales of Solana Phone Surge as Traders Chase BONK Arbitrage

Developers in LamportDAO received a gift of billions of BONK last year. It helped some pay rent—and others get crypto-rich (maybe).

Solana Devs Got a BONK Airdrop Worth $300 Last Christmas—It's Now Worth $500,000

Bitcoin

Ethereum

Crypto startup Babylon says it's developed a way to stake Bitcoin on any proof-of-stake blockchain. Here's how it works.

Native Bitcoin Staking on Ethereum and Solana Could Soon Be a Reality

It's the "first ever conviction for such a hack,” according to the DOJ. The hacker will be sentenced in March.

Solana DeFi Hacker Pleads Guilty in First-Ever Smart Contract Fraud Conviction

BONK continues its recent boom with a 64% surge on the day, landing in the meme-friendly #69 spot on CoinGecko's market ranking.

Solana's BONK Becomes 69th Largest Coin as Market Cap Tops $1 Billion

Solana's (CRYPTO: SOL) native meme token, BONK (CRYPTO: BONK), has witnessed a surge of 42% in the last 24 hours, approaching its all-time high price point of $0.000014, amidst a market buoyed by recent developments. Coinbase, the cryptocurrency exchange, has been a catalyst for this surge.

Why Is Solana's Meme Coin BONK Up 42% Today?

BONK, the popular Solana (SOL) memecoin that has rallied significantly in recent weeks, saw another spike following Coinbase's announcement of its listing on Thursday.

Solana-based Memecoin BONK Surges After Coinbase Listing

Cardano

Avalanche

The year 2023 has been a game changer for the broader crypto community with Bitcoin (CRYPTO: BTC) riding the wave with significant gains. Digital assets also managed this year to be in the limelight for a stronger regulatory framework across the globe thereby leading to more crypto adoption across sectors and investors.

Crypto Markets 2023: A Game Changer For These Three Tokens, Experts Highlight A Strong Case For 2024

BONK bounces back, jumping 21% on the day after top exchange Coinbase says it will list the Solana token on Thursday.

Solana Meme Coin BONK Hits Another All-Time High Ahead of Coinbase Listing

Dogecoin

The cryptocurrency market has demonstrated resilience despite the U.S. Federal Reserve holding interest rates at their current level. Prices of major digital assets continue to rise.

Cryptos Upbeat As Fed Maintains Status Quo — Solana, Avalanche And Dogecoin Rebound

A week after BONK set a new all-time high and flipped the Elon Musk-themed coin FLOKI, it's looking sluggish after yesterday's Coinbase announcement.

Solana Meme Coin BONK Down 11% After Coinbase Reveals Plans to List

Crypto analyst Jason Pizzino thinks traders should be wary of Ethereum (ETH) rival Solana (SOL) as it displays a technical pattern reminiscent of its last cycle's top.

Crypto Analyst Issues Solana Warning, Says SOL Printing Same Technical Pattern As 2021 Market Top

Marinade Finance's Solana-based liquid staking derivative mSOL plummeted as a major holder swapped out of the token.

Solana whale briefly sends mSOL plummeting by selling more than $5 million of token

A trader who nailed the bottom of Bitcoin's (BTC) 2018 bear market is remaining bullish on Solana (SOL) despite its deep corrective move in the past day.

Plenty of Juice Left in the Tank for Solana, Says Top Crypto Trader – Here's His Big Upside Target

Digital assets manager CoinShares says that digital asset investment products just experienced their eleventh consecutive week of inflows. In its latest fund flows report, CoinShares says digital asset investment products saw inflows of over $40 million last week.

Two Ethereum Rivals ‘Firm Favorites' for Institutions As Crypto Sees 11-Straight Weeks of Inflows: CoinShares

Investors are largely interested in Bitcoin, but these two altcoins are grabbing attention.

Investors Eyeing Up Solana and Avalanche as Cash Flows Into Funds

Solana co-founder Anatoly Yakovenko and Helius co-founder Mert Mumtaz unpack why they thinkSolana has an edge over other blockchains.

Anatoly Yakovenko and Mert Mumtaz break down what's only possible on Solana

Institutional investors are waiting on the sidelines for more crypto regulations, according to the chief strategy officer of market intelligence firm CoinShares. Bitcoin (CRYPTO: BTC) has surged over 14% this week and hovering around $44,000, a stark contrast to its position in January.

News for Solana Crypto (SOL)