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

Avalanche

A closely followed crypto strategist is predicting Avalanche (AVAX) will undergo a massive surge due to one main reason. Pseudonymous crypto analyst Altcoin Sherpa tells his 196,600 followers on the social media platform X that the Ethereum (ETH) rival could increase by more than 12% from its current value.

Assignment Crypto Trader Says Avalanche (AVAX) To Surge by Double Digits, Updates Outlook on Solana (SOL)

Solana has successfully implemented its 1.16 upgrade, introducing several new features, including improved runtime support for zero-knowledge proofs and enhancements for validators. However, the highlight of this upgrade is the “confidential transfers,” a feature that allows fully encrypted transactions for SPL tokens, bolstering user privacy. Solana's 1.

Solana Upgrade Ushers in Era of Private Transactions

Solana's v1.16 update introduces “Confidential Transfers,” enhancing user privacy with encrypted SPL token transactions.

Solana's latest update brings native support for private blockchain transactions

Crypto assets manager CoinShares says that one Ethereum (ETH) rival continues to be the favorite altcoin of institutional investors. CoinShares says in the newest Digital Asset Fund Flows Weekly Report that Solana (SOL) has recorded inflows of $31 million this year.

This Ethereum Competitor Is the Institutional Investors' Favorite This Year, According to CoinShares

Bitcoin

Dogecoin

Ethereum

The first day of the criminal trial of FTX founder Sam Bankman-Fried saw mentions of cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Dogecoin (CRYPTO: DOGE), and Solana (CRYPTO: SOL), but notably excluded FTX's native token, FTT (CRYPTO: FTT). What Happened: Federal prosecutors portrayed Bankman-Fried as someone who stole billions of dollars from numerous individuals and misused their funds for personal gain.

Sam Bankman-Fried's First Day Trial Saw Mentions Of Bitcoin, Ethereum, Dogecoin And Solana — FTT Stays In The Shadows

It was the shocking slide in the value of FTX's token that marked the final days of the doomed exchange.

Bankman-Fried Trial Invoked Dogecoin and Solana on Day One—But Not FTT

Convergence RFQ, a Solana-based trading platform under development, has raised $2.5 million in a pre-seed funding round.

Solana-based Convergence RFQ raises token round at valuation of $30 million

More than "31% of stake running through the Jito Labs client," Solana Foundation said in its latest validator health report.

Solana Foundation says nearly a third of stake running through Jito Labs client

Low volatility returned to crypto markets after a sudden move higher earlier this week following ETF decisions.

Bitcoin Hovers Above $27.4K; XRP Notches Win, Solana Token Slides

Solana (SOL) is a favorite among institutional investors, according to CoinShares' most recent crypto fund report, even as the rest of the altcoin market stays stagnant.

CoinShares: Solana Favored by Institutional Investors

The one-time "Ethereum killer" remains the darling of institutional investors.

Solana Extends Investment Streak to 27 Weeks of Inflows: CoinShares

A closely followed crypto analyst believes that the smart contract platform Solana (SOL) is gearing up for a strong bull market. Pseudonymous analyst Inmortal tells his 199,100 followers on the social media platform X that Solana is giving long-term bulls a shot to accumulate the crypto asset at a point of maximum opportunity.

Crypto Trader Outlines Massive Price Target for Solana, Says SOL in Midst of Generational Opportunity for Bulls

Bitcoin Cash

Bitcoin cash rose to a multi-month high to start the week, as traders pushed the cryptocurrency above a key resistance level. The move came on the heels of the “Uptober” trend, and ahead of a big week of U.S. economic data, headlined by the nonfarm payrolls report. Solana rose to its highest level since mid-August.

Biggest Movers: BCH Races to 2-Month High, SOL Nears $25

Digital asset investment products recorded inflows of $21 million for the first time in six weeks, dominated by bitcoin and solana flows.

Crypto funds break outflow streak as bitcoin dominates and solana ‘continues to shine'

With Solana on the rise, the network's DeFi ecosystem has enjoyed a hefty surge. That could change soon, though.

Solana's Total Value Locked Hits New High for 2023

The latest price analysis by Coinidol.com report, the price of Solana (SOL) has broken above resistance at $20.50, while buyers are targeting the high of $22.

Solana Outperforms Resistance But Remains Below $22.00 High

Short liquidations on crypto-tracked futures may have contributed to the rise in bitcoin and ether.

Bitcoin Surges Over $28K; Solana Leads Alts Gains as Crypto Bears Lose $94M

Chainlink rose for a fourth straight day to start the weekend, as the price surged by as much as 7% in today's session. The move pushed the token to a two-month high, breaking out of a key resistance level in the process. Solana extended recent gains on Saturday.

Biggest Movers: LINK Races to 2-Month High, SOL Extends Gains

A popular cryptocurrency trader believes that one mid-cap altcoin project is showing high growth potential. Pseudonymous crypto analyst Altcoin Sherpa tells his 196,400 followers on the social media platform X that decentralized derivatives exchange Injective (INJ) is forming a bullish pattern. “INJ: high timeframe higher low [price] is here. This looks very healthy.

Crypto Trader Says One Mid-Cap Altcoin ‘Looks Very Healthy', Updates Outlook on Bitcoin, Ethereum and Solana

XRP was one of Friday's notable crypto gainers, rallying to a one-month high earlier in today's session. Bullish sentiment returned to end the week, with the global market cap trading nearly 1.5% higher as of writing. Solana also surged, moving back above the $20.00 mark.

Biggest Movers: XRP Hits 1-Month High, SOL Back Above $20

Cardano

Traders at Japanese exchange Bitbank said in a daily note that they expect bitcoin prices to move towards the $28,000 level, citing ETF optimism.

Bitcoin Traders Eye $28K; Solana, Cardano and Tellor Lead Altcoin Bump

Pepe

A closely followed crypto strategist is predicting a big move to the downside for one Dogecoin (DOGE) rival after forming a bearish structure. Pseudonymous analyst Kaleo tells his 596,500 followers on the social media platform X that Pepe (PEPE) could retrace recent gains and dip by more than 16% from its current value.

Trader Says One Dogecoin and Shiba Inu Rival Is Set for Big Correction, Updates Outlook on Bitcoin and Solana

Polygon

Rated Labs raised $12.9 million in Series A funds with the hope of expanding into Layer 2 networks. What Happened: Crypto venture firm Archetype led the fundraising effort, which included other seed investors, The Block reported.

Ethereum-Focused Crypto Startup Scores $13M In Funding For Polygon, Solana Growth

Rated Labs, a crypto startup that offers infrastructure datasets for Ethereum, has raised $12.888 million in Series A funding.

Ethereum explorer Rated raises $12.89 million to expand to other blockchains, including Polygon and Solana

A closely followed crypto strategist is warning that Bitcoin (BTC) and two other altcoins could collapse in price amid ongoing bearish market structures. Pseudonymous analyst Kaleo tells his 596,500 followers on the social media platform X that he's expecting Bitcoin to potentially decline by more than 20% from its current value.

News for Solana Crypto (SOL)