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

Crypto analytics platform Santiment says that the heavily bearish sentiment revolving around Solana (SOL) could push the price of the Ethereum (ETH) competitor up. The market intelligence firm says that the fear, uncertainty and doubt (FUD) surrounding Solana could trigger the smart contract platform to rally until the heavily bearish sentiment reduces.

Top Ethereum Rival Is Now Flashing Bullish Signal, According to Crypto Analytics Firm Santiment

A closely followed crypto analyst is warning Solana (SOL) holders that the smart contract platform's downtrend is likely far from over. In a new strategy session, pseudonymous analyst Cheds tells his 50,200 YouTube subscribers that he's bearish on Ethereum (ETH) rival Solana and that he plans to short SOL should it bounce to $15.

Popular Analyst Warns Steep Correction in Sight for Solana, Says SOL Has Ways To Go – Here's His Target

Ethereum

Polygon

The largest marketplace for non-fungible tokens (NFTs) on the Solana (SOL) blockchain says it is integrating with blockchain scaling solution Polygon (MATIC).

Top Solana (SOL) NFT Marketplace Announces Extension to Ethereum (ETH) Layer-2 Solution Polygon (MATIC)

Litecoin

Litecoin extended recent gains on Nov. 23, with the token climbing to its highest point since May. The move saw prices climb by nearly 20% in today's session, and comes ahead of this afternoon's Federal Open Market Committee (FOMC) minutes. Solana also surged on Wednesday, moving nearly 20% higher.

Biggest Movers: LTC Moves to 6-Month High, SOL up Nearly 20%

A popular crypto analyst is laying out his predictions for Solana (SOL) and a handful of other altcoins after this month's digital asset market fallout. The pseudonymous trader Altcoin Psycho tells his 10,700 YouTube subscribers that if Bitcoin's (BTC) price stays stable, SOL could jump up to $17 before breaking back down again.

Analyst Predicts Aftermath for Solana, Serum, Sushi and FTT Following Downfall of FTX and Sam Bankman-Fried

Dogecoin

Shiba Inu

The market cap of popular cryptocurrency Solana (CRYPTO: SOL) and meme coin Shiba Inu (CRYPTO: SHIB) has slipped below that of Dogecoin (CRYPTO: DOGE) relative Litecoin (CRYPTO: LTC). What Happened: At the time of writing, LTC was at 13 in terms of market capitalization, while SHIB ranked 14th in the list and SOL was at 16, according to CoinMarketCap's top 100 list of cryptocurrencies.

Solana, Shiba Inu Market Cap Shrinks Below This Dogecoin 'Relative' Amid Chaotic Market Conditions

The one-time Ethereum killer has fallen sharply as the crypto market buckles under the wreckage of FTX.

Solana Market Cap Shrinks Below Litecoin in Protracted Descent

Sam Bankman-Fried offered to buy up all of a trader's Solana for $3. Now FTX is bankrupt, SBF is out of cash, and SOL is sinking fast.

Solana Bear That SBF Dunked On With $3 Offer Gets the Last Laugh

Bitcoin

A popular crypto strategist is setting new potential price targets for Ethereum (ETH) and Solana (SOL) while also giving an update on Bitcoin's (BTC) price action.

Crypto Analyst Gives Price Targets for Ethereum (ETH) and One Its Top Competitors, Updates Bitcoin (BTC) Outlook

Uniswap

Dallas Mavericks owner and investor Mark Cuban on Sunday unfollowed several cryptocurrency-related accounts on Twitter, triggering fears that he might be losing faith in the sector. What Happened: According to BigTechAlert, an account that tracks Twitter accounts of billionaires, Cuban unfollowed accounts of Uniswap, Dapperlabs, Defi Pulse, Solana (CRYPTO: SOL) and MetaMask, among several others.

Mark Cuban Losing Faith In Crypto? 'Shark Tank' Star Unfollows Uniswap, Solana, MetaMask And Others On Twitter

Solana's biggest project, the decentralized exchange Serum, had to carry out an emergency hard fork for fears that private upgrade keys held by FTX were compromised.

Tether Yanks $1B In USDT Off Solana As Blockchain's FTX Ties Cloud Future

Coin Bureau host Guy is sending out a warning that a top Ethereum (ETH) competitor faces more downside risks in the FTX fallout. The Coin Bureau host tells his 2.17 million YouTube subscribers that the collapse of the FTX crypto exchange has made the road ahead for Solana (SOL) difficult.

Leading Ethereum Rival To Plunge by Over 40% Amid FTX Collapse, Predicts Coin Bureau Host

Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding The sudden collapse of FTX and Alameda has sent shockwaves throughout crypto, imparting significant capital losses to a wide range of parties including users, developers, investors, and more Among L1s, the Solana ecosystem was impacted most severely by the incident due to early investments from FTX and Alameda, along with the two companies' roles in providing an extensive range of market-making and infrastructural services for the ecosystem Solana now faces a long and uncertain road to recovery, but steady network performance during the recent crisis offers a glimmer of hope that continued technical updates can lay the foundation for user interest and growth once more in the future 

Layer by Layer: Solana Ecosystem Contends with FTX Fallout

Tether, the issuer of the USDT stablecoin, said it was conducting a chain swap to move 1 billion USDT from Solana to Ethereum. The post Tether says it's moving 1 billion USDT from Solana to Ethereum appeared first on The Block.

Tether says it's moving 1 billion USDT from Solana to Ethereum

The chain swap announcement comes as Solana faces difficulties.

Solana Loses $1 Billion in USDT to Ethereum in Tether Chain Swap

NFT protocol Metaplex is laying off staff due to to the "indirect impact" of the FTX collapse. The post Solana-based Metaplex lays off staff following FTX collapse appeared first on The Block.

Solana-based Metaplex lays off staff following FTX collapse

Multiple exchanges disabled deposits and withdrawals for Solana-based Tether  (CRYPTO: USDT) and USD Coin (CRYPTO: USDC) on Thursday. What Happened: Tether, in a blog post, said, “the move to suspend USDT deposits on these exchanges is likely just due to the heavy connections between FTX (CRYPTO: FTT), Alameda, and Solana (CRYPTO: SOL).

Tether Says Crypto Exchanges Disabling USDC, USDT Transactions Over 'Heavy Connections With FTX, Alameda, Solana'

While it had no financial exposure to the fallen exchange, Metaplex appears to be suffering from reputational damage spreading to Solana.

Solana NFT Protocol Metaplex Announces Layoffs in Wake of FTX Collapse

The only change is that Binance restarted Solana USDT — without explanation.

No Explanation Hours After Top Exchanges Halt Solana-Only USDC, USDT Trading

Cryptocurrency exchange Binance on Thursday temporarily suspended deposits of the stablecoins USDC (CRYPTO: USDC) and USDT (CRYPTO: USDT) on the Solana blockchain "until further notice," but resumed a few hours later. "After internal assessment and review, Binance has now resumed deposits for USDT (SOL)," the company stated in its official blog post.

Binance Temporarily Suspends USDT, USDC Deposits On The Solana Blockchain, Resumes Later

Binance has yet to provide an explanation for the move, which has been mirrored by other major crypto exchanges.

Binance Temporarily Suspends Deposits of USDC, USDT on Solana

The announcement from the largest crypto exchange by trading volume comes after rival OKX announced it will delist both USDC and USDT on Solana. The post Binance halts Solana-based USDC and USDT deposits, in line with rivals appeared first on The Block.

Binance halts Solana-based USDC and USDT deposits, in line with rivals

Former Goldman Sachs executive Raoul Pal says one of Ethereum's (ETH) top rivals offers a big opportunity to investors after a price fall. In a new strategy session video, the macro guru tells his 52,800 Youtube subscribers that Solana (SOL) has a lot working in its favor to ignite an eventual bull run.

Macro Guru Raoul Pal Says One of Ethereum's Top Rivals Reminds Him of When ETH Was Down 97% in 2018

Solana emerged as the week's worst-performing crypto asset as one of the project's early backers FTX went insolvent.

Solana Plummets More Than 41% Over The Week Amid FTX Collapse

Solana, a poster coin of the crypto future, is in trouble.

News for Solana Crypto (SOL)