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

The price of Solana (SOL) is falling below the moving average lines.

Solana Circles Above $20 Support As Bears Threaten Short

More new addresses have already been added on Solana in the first half of May than the protocol saw in the entire month of April, according to data from The Block.

Solana sees surge in new users amid higher fees on Ethereum, Bitcoin

Solana (SOL) co-founder Anatoly Yakovenko says one crucial development in the crypto space could trigger a boom in digital asset adoption. Yakovenko says in a new interview with Scott Melker that stablecoin legislation in the US could blow the doors wide open in terms of onboarding new users to the sector.

Solana (SOL) Creator Anatoly Yakovenko Says This ‘Killer App' Could Spark Next Boom in Crypto Adoption

Solana Foundation's Games General Manager Johnny Lee tells Decrypt's Kate Irwin about Solana's "build together" approach as well as his thoughts on crypto firms becoming game publishers.

Why Solana Won't Become A Web3 Game Publisher

Litecoin

Solana extended recent gains on Monday, as the token rose to a one-week high, following recent declines. The token dropped below the $20.00 level last week, as a red wave hit cryptocurrency markets. Litecoin was also higher today, climbing by nearly 7%.

Biggest Movers: LTC, SOL Climb to 1-Week Highs on Monday

The price of Solana (SOL) is falling as it crosses below the 50-day line SMA. The move below the moving average lines signals that selling pressure continues.

Solana Faces Rejection At $21.30 As Selling Pressure Resumes

Chainlink

Solana rose by as much as 5% in today's session, as cryptocurrencies began to recover from Friday's red wave. The global market cap was up by nearly 2% at the time of writing. Chainlink also rose, moving back above a key resistance level. Solana (SOL) Solana (SOL) moved back above the $20.

Biggest Movers: SOL up 5%, as LINK Breaks Key Resistance Level on Saturday

Despite shuttering stores earlier this year, the company behind the 10th biggest cryptocurrency is opening co-working space.

Solana Labs Opening 25,000-Square-Foot Office Space in NYC

Avalanche

Bitcoin

Polygon

Popular crypto analyst Benjamin Cowen thinks the “altcoin reckoning” against Bitcoin (BTC) is bound to continue. In a new YouTube video, Cowen tells his 784,000 YouTube subscribers that a lot of altcoins are in “systematic downtrends” against Bitcoin and will also put in new lows against the US dollar this year.

Solana, Polygon, Avalanche and Others Will Bleed Against Bitcoin in Massive ‘Altcoin Reckoning': Benjamin Cowen

Digital assets manager CoinShares says institutional investors have a negative sentiment about the market as crypto suffers major outflows for the third week in a row.

Solana (SOL) the Only Altcoin To See Institutional Investments Last Week: CoinShares

Xrp plunged to a six-week low on Monday, as cryptocurrency markets moved further into the red. The global crypto market cap fell by over 3% to start the week, which comes days ahead of the upcoming U.S. inflation report. Solana also declined, hitting a multi-week low.

Biggest Movers: XRP, SOL Move 5% Lower to Start the Week

Solana (SOL) price is in a sideways movement but stuck between moving average lines.

Solana Moves In Narrow Range, But Holds Above The Low Of $21

Solana Foundation wants upstart NFT creators to pitch their ideas for PFP collections that have the potential for long-term success.

Solana Foundation launches NFT pitch contest for aspiring creators

Prominent projects are porting over to the Solana network and developer activity remains strong, Anatoly Yakovenko said in a CoinDesk TV interview.

Solana Founder Brushes Off FTX Woes, Remains Confident in Crowded Blockchain Landscape

Polygon climbed higher in today's session, as cryptocurrency markets marginally rebounded on Wednesday. The global crypto market cap was up by nearly 1% earlier in the day, as Tuesday's losses eased. Solana, on the other hand, remained lower, as it fell towards a key price floor.

Biggest Movers: MATIC Rebounds, as SOL Falls Back Towards Support

Algorand

As investors pull money out of the broader crypto sector ahead of expected interest rate hikes, Solana, Algorand and Polygon are bucking the trend.

Solana, Algorand and Polygon are bright spots amid crypto outflows ahead of Fed decision

Mad Lads hype helped push “pro” marketplace Tensor on top, but the latest battle for Solana traders may only be getting started.

Tensor Snatched Magic Eden's Solana NFT Crown. But for How Long?

Ethereum

The popular mobile and browser wallet courts new users with a seamless multichain experience.

Phantom Solana Wallet Adds Ethereum and Polygon Support

Last week, Magic Eden briefly lost its top spot to rival Tensor, thanks to Mad Lads. Magic Eden now says it will refocus on Solana.

Magic Eden to refocus on Solana after upstart Tensor briefly takes its NFT marketplace crown

Litecoin fell below the $90.00 level on Monday, as sentiment in cryptocurrency markets remained mostly bearish. The global market cap is down 1.87% at the time of writing, which seems to be a result of the upcoming Federal Reserve interest rate decision. Solana was also in the red today.

Biggest Movers: LTC Back Under $90.00, as SOL Extends Declines

The price of Solana (SOL) is bearish as it crosses above the moving average lines.

Solana Reaches Overbought Region And Fails To Overcome $24 High

Small gains across the board this week after First Republic Bank's shares nosedived following publication of its latest quarterly report.

This Week in Coins: Bitcoin, ICP and Solana Lead Small Market-Wide Rally

Payments giant Mastercard is collaborating with a handful of layer-1 altcoin projects to create common crypto standards. In a new press release, the credit card giant says that it's teaming up with Ethereum (ETH) rivals Solana (SOL), Aptos (APT), Polygon (MATIC) and Avalanche (AVAX) to bring more trust to blockchain transactions.

Payments Giant Mastercard Partners With Solana, Polygon, Aptos and Avalanche To Create Common Crypto Standards

Mastercard Crypto Credential is a set of standards the payment processor says will help build trust in the industry.

Mastercard teaming with Solana, Polygon on new Crypto Credential standards

Armani Ferrante reflects on the buzzy launch of Mad Lads, plus Coral's larger plans with the Backpack app and versatile xNFTs.

News for Solana Crypto (SOL)