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 network's developers implemented a new feature last year to let some users to pay extra to avoid congestion. Even the elevated "priority fee" rate is still considered low, so the adoption rate is growing.

For Solana Users, 'Priority Fees' Mean Paying Up to Skip the Line

Polygon

Customizable rollup provider Eclipse announced that the startup is launching a scaling solution that is compatible with Solana and Polygon. Eclipse disclosed that the Layer 2 blockchain can run smart contracts on Solana, and decentralized applications (dapps) will be easily migratable to the Polygon Sealevel Virtual Machine (SVM).

Eclipse to Launch Rollup Blockchain for Polygon Network with Solana Compatibility

Solana (CRYPTO: SOL), like other cryptocurrencies, experienced the fallout in the crypto markets in 2022. But its technical fundamentals remained strong despite the collapse of FTX, which had an inordinate impact on the blockchain's ecosystem, according to a recent research report by Coinbase.

Solana's Technical Fundamentals Remain Strong Despite Crypto Market Fallout

Polygon SVM uses the SeaLevel Virtual Machine (SVM) and Optimistic Rollups technology, allowing Solana developers to migrate their apps to Polygon.

Eclipse to release a Solana-compatible Layer 2 blockchain built for Polygon network

DeLabs details the motivations behind the Ethereum and Polygon moves and exclusively explains the bridging process for Decrypt.

DeGods and y00ts Are Leaving Solana—Here's How It's Going to Work

Ethereum

Base is built on Optimism and Coinbase has no plans to issue a new network token.

Coinbase Launches Layer 2 Blockchain Base to Provide Onramp for Ethereum, Solana, and Others

The fundamental value proposition of the Solana protocol persists from a technical perspective, the report said.

Solana Blockchain Well Positioned to Reassert Itself as a Genuine Layer 1 Competitor: Coinbase

Litecoin

Litecoin snapped a four-day losing streak on Feb. 22, despite cryptocurrency markets mostly trading lower. The token rose for the first time since Saturday's session, when prices were above $100.00. On the other hand, solana extended recent declines, falling by as much as 7%.

Biggest Movers: LTC Snaps Losing Streak, SOL Moves 7% Lower

"I've instructed our retail team to be ultra generous," founder and CEO Vibhu Norby said.

Solana Spaces gives fans final week to snag free merch ahead of shut down in Miami, NYC

Solana Spaces will close its New York City and Miami locations by the end of February.

Solana-Themed Storefronts Close Shop, Ending Experiment in IRL Blockchain Evangelism

The team behind Solana Spaces shifts away from brick-and-mortar gateways to onboard people into Web3.

Solana Spaces Closing Stores in NYC and Miami

The premise is simple: The transaction is the wallet, meaning anyone can use it. Now, TipLink is expanding the idea with fresh funding.

Multicoin, Sequoia Lead $6M Round in Solana-based Crypto Wallet TipLink

TipLink, a crypto payments platform built on the Solana blockchain, raised $6 million in a seed funding round.

Sequoia, Multicoin co-lead $6M funding for Solana-based crypto payments startup TipLink

Raoul Pal, a former Goldman Sachs executive and a macroeconomic guru, said Solana's chart is getting "very interesting" - with its value already up 85% this year. What Happened: Pal compared SOL with Ethereum (CRYPTO: ETH) which is up 168% in 2023.

Raoul Pal Says This Crypto Is Getting 'Very Interesting' As It Soars 85% Against Ethereum This Year

Ethereum (ETH) challenger Solana (SOL) is rallying amid the news that Helium (HNT) is moving onto the SOL blockchain next month. The Solana network recently announced that Helium is migrating from its current layer-1 solution to the smart contract blockchain platform.

Solana (SOL) Bounces After Announcement That Helium (HNT) Ecosystem's Officially Migrating to the Ethereum Rival

Over the past seven days, the crypto asset solana has increased more than 23% against the U.S. dollar after the announcement that the Helium Network plans to migrate to the Solana blockchain on March 27. Helium Network's native token, helium, has also risen, jumping 25% over the past week against the greenback.

Helium Network Migration to Solana Blockchain in March Drives Significant Gains for SOL and HNT Tokens

Bitcoin Cash

Solana rose by as much as 11% to start the week, as the token moved higher for a fourth consecutive session. Market sentiment has mostly been bullish in the past two weeks, leading to prices hitting a multi-month high on Monday. Bitcoin cash also surged, climbing to its strongest level since July.

Biggest Movers: SOL 11% Higher, BCH Hits Strongest Point Since July 

The upcoming Helium migration and substantial NFT sales volume appear to be fueling a double-digit recovery for Solana.

Solana Soars Double-Digits as Helium Network Announces Merge Date

This upgrade will encompass all wallets, Hotspots, and Helium Network state, and will take place over a 24-hour transition period on the decided date.

Helium to Fully Migrate to Solana Blockchain by March 27

The price of Solana (SOL) is currently in an upward correction after falling to a low of $19 on February 10.

Solana Recovers, But Faces Rejection At $24

Solana was one of Tuesday's notable movers, as the token rebounded from losses to start the week. The move comes despite U.S. inflation figures missing expectations. Consumer prices came in at 6.4%, higher than the 6.2% many had forecasted. Tron rose for a fifth consecutive session on Tuesday.

Biggest Movers: SOL Rebounds, TRX up for Fifth Straight Session

The digital collectible giant announced the reduction in workforce as part of a restructuring.

Layoffs Hit Solana NFT Marketplace Magic Eden Sheds 22 Employees

Digital assets manager CoinShares says large institutional investors are being more selective this year, pouring money into Ethereum (ETH), Polygon (MATIC) and one ETH competitor last week. In its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that institutional digital asset investment products suffered minor outflows last week despite specific altcoins enjoying inflows.

Institutions Allocate to Ethereum (ETH), Polygon (MATIC) and One ETH Rival As Markets Consolidate: CoinShares

One of Solana's most popular NFT projects just changed hands, but will the DAO of NFT holders be receptive to the new owners?

Solana Monkey Business Has a New Owner: NFT Exchange Hadeswap

A hacker responsible for the $320 million exploit of the Solana-Ether Wormhole bridge in 2022 has been actively engaging with the decentralized finance (DeFi) ecosystem. The individual behind the exploit exchanged some of the fraudulently obtained assets for Ether (CRYPTO: ETH) and may be earning yields on staked tokens, according to blockchain security firm Peckshield.

News for Solana Crypto (SOL)