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 closely followed crypto trader says that the Ethereum (ETH) rival Solana (SOL) has the potential to generate exponential gains for long-term investors. Pseudonymous trader Altcoin Sherpa tells his 196,200 followers on the social media platform X that Solana is a fundamentally sound crypto project that could perform well in the next bull market.

Solana a Solid Bet for Next Bull Run With Potential for Great Multiples, Says Analyst – But There's a Big Catch

Cosmos

Bitcoin

The most popular crypto wallet is introducing support for some of the largest blockchain networks in the world with the launch of a new feature. MetaMask announces on the social media platform X the launch of the open beta for “Snaps,” which aims to make the MetaMask ecosystem more permissionless.

MetaMask Introduces Support for Bitcoin, Solana and Cosmos Network With New ‘Snaps' Feature

After years of incompatibility, a new bridge allows Solana portfolios to be managed directly from the popular Web3 wallet.

Solana Support Comes to MetaMask With Solflare Integration

The latest price analysis by Coinidol.com report, the price of Solana (SOL) has fallen into an oversold area of the market. On September 12 the price of Solana was around $18.

Solana Price Drops But Returns To $18

Bankrupt crypto exchange FTX has revealed in a court filing that its liquid crypto portfolio is worth $3.4 billion, which consists of $1.16 billion worth of Solana (SOL) tokens.

FTX's Crypto Portfolio Worth $3.4B, Consists of $1.16B of Solana

The FTX estate, currently overseeing the bankruptcy and restructuring of the once-active crypto exchange, reveals holdings of $1.16 billion in solana (SOL) and $560 million in bitcoin (BTC). 16% of Solana's Market Cap Is Held by FTX In a recent Monday court filing, a stakeholder update showcases the premier digital assets held by the estate.

FTX Estate Controls $1.1B in Solana and $560M in Bitcoin Amid Bankruptcy Revelations

Court documents reveal that the bankrupt crypto exchange FTX is still holding over $3 billion in assets as August 31. As shared on the social media platform X by crypto reporter Colin Wu, on August 31, 2023, FTX was still holding almost $2 billion in Solana (SOL), Bitcoin (BTC), and Ethereum (ETH) alone.

FTX Holds $560,000,000 in Bitcoin and $1,162,000,000 in Solana, Court Documents Reveal

Bankrupt FTX's marshalled assets total $7 billion with a large chunk, about $1.2 billion, parked in SOL tokens, according to a court filing.

FTX assets include $1.2 billion of SOL, Bahamas property

Ethereum

FTX's liquid crypto portfolio is worth $3.4 billion in total.

FTX Details Its $3.4 Billion Crypto Portfolio of Solana, Bitcoin and Ethereum

The company says it paid billions to executives including founder Sam Bankman-Fried before filing for bankruptcy last year.

FTX Holds $1.16B in SOL, $200M in Bahamas Real Estate, Court Filing Says

In a recent social media interaction, Chris Burniske, the brain behind Placeholder Capital and a former pillar at ARK Invest, shared a highly optimistic trajectory for the cryptocurrency Solana (CRYPTO: SOL). What Happened: Drawing from his history of precise predictions in the crypto space, including the 2022 crypto bottom, Burniske said he envisions a future where Solana not only competes fiercely with Ethereum (CRYPTO: ETH) but potentially overshadows it.

Venture Capitalist Who Predicted 2022 Crypto Market Bottom Expects 2,500% Rally For Solana

An investor who accurately called the crypto market bottom in 2022 is expressing bullish sentiment on a leading Ethereum (ETH) competitor.

One Top Ethereum Rival Could Explode by Over 2,500%, Says Investor Who Predicted the 2022 Crypto Bottom

Basketball legend Shaquille O'Neal bailed after FTX's collapse, the amended complaint claims, allegedly tanking the NFT project's value.

Shaq Played Active Role in Solana NFT Project Before Abandoning It, Lawsuit Alleges

Cardano

Dogecoin

Payments giant Visa﻿ has said it will ramp up its use of Circle's USDC stablecoin on its network, opening the door to future bitcoin and crypto expansion

‘A Huge Deal'—Visa Reveals Crypto Payments Bombshell That Could Cause Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Solana, Tron And Toncoin Price Chaos

Solana Labs COO and co-founder Raj Gokal weighs in on Visa's move to expand its payments pilot to the Solana blockchain.

Solana Labs COO Raj Gokal calls Visa pilot a ‘big step' for digital payments

The eighth event in a series, Hyperdrive hackathon aims to spur the development of new tools and apps on the Solana network.

Solana hackathon will award up to $1 million in prizes and funding

A widely followed crypto strategist believes that one Ethereum (ETH) competitor with high institutional interest has massive upside potential. The anonymous host of InvestAnswers tells his 447,000 YouTube subscribers that Solana (SOL) has key advantages over ETH that could send its price soaring.

One Ethereum Rival at ‘Screaming' Low Prices Amid Institutional Interest: InvestAnswers

Payments giant Visa announced plans to expand its stablecoin settlement capabilities by utilizing the Solana blockchain.

Visa Expands USDC Stablecoin Settlements Using Solana

Solana is continuing to lose momentum, with the number of daily active addresses hitting the lowest point since The Block started tracking the data in late 2020.

Solana users fall to lowest level in more than 2 years

In a significant move towards modernizing cross-border financial transactions, payments giant Visa Inc (NYSE: V) announced on Tuesday its plans to extend its stablecoin settlement capabilities to the Solana (CRYPTO: SOL) blockchain. This development came in collaboration with major merchant acquirers, Worldpay and Nuvei.

Visa Wants To Revolutionize Cross-Border Payments With Solana

Visa has announced that its expanding its stablecoin settlement capabilities with a new system based on the Solana (SOL) network. In a new press release, Visa says that after a successful pilot involving digital asset exchange Crypto.com, it's launching a new cross-border money system using Circle's USDC on Solana.

Payments Giant Visa Selects Ethereum Rival Solana (SOL) for Stablecoin Settlement Expansion

The payments giant doesn't seem to be slowing down with its crypto ambitions.

Visa Promises Faster Credit Card Payments With USDC on Solana

The native token of the Solana blockchain jumped on Tuesday after announced it will expand its stablecoin capabilities to the Ethereum alternative.

Solana jumps on Visa stablecoin announcement as bitcoin and other cryptocurrencies remain flat

The company said it is one of the first major payment institutions to use directly the Solana network for settlements.

Visa Taps Solana and USDC Stablecoin to Boost Cross-Border Payments

Visa is taking a step in advancing digital currency adoption by expanding its stablecoin settlement capabilities to the Solana blockchain network. The payments giant also announced new pilot programs with merchant acquirers Worldpay and Nuvei to explore streamlining settlement in the Circle-issued stablecoin USDC.

News for Solana Crypto (SOL)