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

Bitcoin

There are 155 cryptocurrency-based ETP filings tracking 35 different digital assets, according to Bloomberg analysts.

‘Total land rush': Bitcoin, Solana lead the way with over 150 crypto ETF filings awaiting review

Public Solana treasury companies now hold nearly 16 million SOL, with Forward Industries accounting for almost half.

Forward Industries forms crypto advisory board to guide Solana treasury strategy

The new exchange-traded fund marks Hong Kong's latest step to widen crypto access under its highly-regulated market framework.

Hong Kong SFC Clears City's First Spot Solana ETF

Hong Kong's Securities and Futures Commission (SFC) has approved the territory's first solana SOL$184.52 spot exchange-traded fund (ETF), extending its crypto ETF offerings beyond bitcoin BTC$108,314.92 and ether ETH$3,861.85.

Hong Kong's Securities Regulator Approves First Solana ETF

Hong Kong's SFC authorized the ETF on Oct. 17, making it the first of its kind to be authorized for trading in the jurisdiction.

Hong Kong's first spot Solana ETF starts trading on Oct. 27

Ethereum

Analysts say 'Uptober' is canceled as Bitcoin and major altcoins slide amid a highly uncertain and volatile environment.

'Uptober' Falters as Bitcoin and Ethereum Slip, Solana Leads Double-Digit Declines

Solana meme coin investors have been refunded for the SOL they sent to the Slerf pre-sale wallet, which was mistakenly burned 19 months ago.

'Oh Fuck': Solana Meme Coin Refunds Investors—A Year After Accidentally Burning $10 Million

Solana Mobile will no longer provide software updates and security patches to its first-generation Android phone, the Saga.

Solana Saga Loses Security Updates and Support Following Seeker Phone Rollout

Zcash

Solana scores institutional and revenue wins as price dips.

Solana News: Hong Kong Approves SOL ETF, Jupiter Ultra and Zcash Arrive

Grayscale Research's latest analysis highlights Solana as the most active blockchain in crypto, leading peers in users, transaction volume, and network fees.

Solana Emerges as Crypto's Most Active Blockchain Network

he Solana DAT firm says its resale registration is a show of confidence in its Solana-linked treasury strategy, even as HSDT shares fall.

Solana Company Touts Conviction as Investors Gain Right to Sell Shares

Building on the success of its XRP card, Gemini has unveiled a Solana credit card edition that fuses spending with staking, offering high crypto cashback and expanding real-world blockchain use across mainstream consumer finance.

Gemini Builds Momentum After XRP Success With New Solana Credit Card

Solana's Yakovenko said he was just “messing around” with AI and never meant for the code to be public.

Solana Co-Founder Vibe Codes Hyperliquid Rival, Invites Devs to ‘Steal Idea'

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Daily: Bitcoin is back above $110,000, Solana co-founder Anatoly Yakovenko is designing a perps DEX, and more

Solana Company (HSDT), the digital asset treasury firm formerly known as Helius Medical Technologies and backed by Pantera Capital, has moved ahead with unlocking shares for early investors in its $500 million PIPE round as the company's stock trades below the initial purchase price.

Pantera-Backed Solana Company Brings Forward PIPE Unlock as Stock Price Plunges 60%

The New York-based exchange is launching a Solana-themed credit card offering users up to 4% SOL token rewards on purchases.

Gemini launches Solana credit card with SOL token rewards and staking

Solana co-creator Anatoly Yakovenko is building an onchain perps DEX, according to detailed documentation posted on GitHub.

Solana co-founder Anatoly Yakovenko is designing a perps DEX: GitHub

Gemini is expanding its crypto credit card offerings with the release of the Solana Card, which will offer an auto-staking option.

Gemini Unveils Solana Credit Card That Pays and Auto-Stakes SOL Rewards

The recovery rally in major cryptocurrencies gathered pace on Monday as Japanese shares surged to record highs and China's third-quarter gross domestic product (GDP) data bettered estimates.

Bitcoin Surges Past $110.5K, XRP, SOL, ETH Rally as Japanese Shares Hit Record High

XRP$2.3504 and Solana's SOL$185.66 stand out as the major cryptocurrencies with a key sentiment gauge showing bullish momentum, while their peers bitcoin BTC$106,887.99, and ether ETH$3,889.25 remain stuck in the gloom.

XRP, SOL Break Ahead with Bullish Reset in Sentiment as Bitcoin and Ether Stay Stuck in the Gloom

Solana price analysis by Coinidol.com. SOL has continued its sideways movement above the $170 support level following the breakdown on October 10.

Solana Resumes Its Range-Bound Rise Above $170

Uniswap

The Uniswap web application—the interface for the world's leading decentralized exchange—announced support for the Solana blockchain.

Uniswap Web App Integrates Solana, Boosting Multi-Chain DeFi Interoperability

DeFi Development Corp. has acquired 86,307 additional SOL at an average price of $110.91, increasing its total SOL holdings to more than 2.19 million. The company now holds roughly $426 million in SOL as it continues to execute its long-term staking and yield strategy. Fresh Acquisition Strengthens DeFi Dev Corp's Solana Treasury DeFi Development Corp.

DeFi Dev Corp Boosts Solana Holdings to $426 Million

The updated protocol is "seamlessly integrated" into all Jupiter products, including its mobile and desktop apps as well as its API and Pro Tools.

Solana decentralized exchange aggregator Jupiter unveils Ultra v3 offering improved trade execution, MEV protections and ‘gasless support'

Aave

A broad altcoin sell-off is seeing whales de-risking, according to analysts, citing fears of a black swan event.

News for Solana Crypto (SOL)