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 links between Solana, FTX, and Alameda are made clear as SOL continues to fall in price, now down 57% over the past week.

Solana Foundation Details FTX, SBF Financial Ties as SOL Struggles

The foundation addressed the fallout of the FTX debacle in a blog post.

Solana Foundation Invested in FTX, Held Millions in Sam Bankman-Fried-Linked Cryptos on Exchange

Serum (CRYPTO: SRM), a decentralized exchange software built in the Solana (CRYPTO: SOL) ecosystem, may have been compromised when the hacking of bankrupt FTX occurred on Saturday. FTX announced that the exchange had been hacked on its official Telegram message.

Solana-Based Serum May Have Been Compromised During FTX Hack, Fork Efforts Underway

Many Solana developers suspect the recent FTX hack may have compromised Serum, so they are forking the platform. The post Solana liquidity hub Serum to be forked after possible compromise in FTX hack  appeared first on The Block.

Solana liquidity hub Serum to be forked after possible compromise in FTX hack 

Developers are scrambling to create a new version of the on-chain liquidity hub that has no ties to Sam Bankman-Fried's burning empire.

FTX Hack Spooks Solana DeFi Community, Igniting Revolution at Alameda-Controlled Serum DEX

Ethereum

Ethereum co-founder Vitalik Buterin took a dig at FTX chief Sam Bankman-Fried over his donations to political leaders and said donating large amounts to politicians is what ended up breaking the cryptocurrency exchange. In an apparent jab at U.S. regulators, Buterin also said FTX is headquartered in the Bahamas and the location was chosen in part due to a lack of a regulatory framework, such as the one which exists in the United States.

'That's What Ended Up Breaking It': Vitalik Buterin Tells Benzinga What Broke FTX, Why Solana, Ethereum Didn't Fail

Solana (CRYPTO: SOL) rallied as much as 25% earlier today, though overall market volatility resulted in the coin falling into the loss territory instead. Some in the community claim that despite the crypto's strong ties with Sam Bankman Fried — the founder and former CEO of FTX, the cryptocurrency exchange that filed for bankruptcy earlier today — this protocol has a bright future.

FTX Is Dead, Solana Is Not: SOL Sees Positive Volatility As Community Concurs Sam Bankman-Fried 'Is Not Solana'

Bitcoin Gold (CRYPTO: BTG) and Solana (CRYPTO: SOL) are trading lower by some 3.30% to $14.45 and 4.55% to $15.42 Friday afternoon. Several altcoins are experiencing ongoing, marked weakness and trading lower after crypto exchange FTX commenced Chapter 11 proceedings.

Why Bitcoin Gold And Solana Are Trading Lower Again

FTX filed for bankruptcy and FTX US later froze withdrawals for certain assets.

Solana's Wrapped Bitcoin Price Craters After FTX Shuts Exit Ramp

Solana was up by as much as 20% on Friday, as the token rebounded following recent declines. The token which dropped by over 50% earlier in the week, surged today, as traders seemingly bought the dip earlier in the day. However, sentiment has since shifted following the news that FTX has declared bankruptcy.

Biggest Movers: SOL Gives Up 20% Gains, as FTX Declares Bankruptcy

Things looked dire for Solana on Wednesday, but SOL is climbing again after a softened staking unlock had only modest impact.

Solana Weathers the FTX Storm: SOL Rises 33% Amid 'Crucible Moment'

Bitcoin

Arthur Hayes, the co-founder of crypto derivatives trading platform BitMEX, outlined his views on the latest downturn in cryptocurrencies. What Happened: According to the prediction posted by Hayes, “bottom is not yet in” and he forecasts “further fallout” after the collapse of the crypto exchange FTX (CRYPTO: FTT).

Bitcoin, Ethereum, Solana: Here Are Bitmex Founder Arthur Hayes' Price Predictions Amid Crypto Meltdown

A Solana (SOL) whale is struggling to stay afloat amid the current crypto market downstream that pulled SOL down 34% in one day. Colin Wu of Wu Blockchain tells his 237,100 Twitter followers that a Solana whale is in liquidation and currently has 2,450,418.5 SOL in collateral and 44,871,609 USD Coin (USDC) in debt.

Solana Whale Faces $51,000,000 Liquidation As SOL Tumbles Over 34% in One Day: On-Chain Data

A widely followed analyst is laying out his forecast for Bitcoin (BTC) and two Ethereum (ETH)-rivals as the crypto market goes deeper into the red territory. In a new video, Jason Pizzino tells his 279,000 YouTube subscribers that Bitcoin may see a recovery from the crypto exchange FTX-driven market crash if it breaches above $18,150.

Top Crypto Analyst Updates Outlook on Bitcoin and Solana, Says One Ethereum Rival Still Looking Strong

The outspoken founder of the derivatives exchange BitMEX is updating his crypto outlook amid a brutal market meltdown. Arthur Hayes believes the bottom is not yet in and forecasts further fallout is incoming after the collapse of the crypto exchange FTX.

BitMEX Founder Arthur Hayes Updates Price Targets for Bitcoin, Ethereum and Solana Amid Crypto Market Meltdown

The wireless hotspot network voted to move to Solana in September.

Helium Network Founder Pledges to Stick with Solana After Bloody Day for SOL

Fantom

Polygon

Tezos

A popular crypto analyst says the best altcoins to accumulate right now include Solana (SOL), Polygon (MATIC) and five Ethereum (ETH) rivals.

Polygon, Solana and Five Ethereum (ETH) Rivals Are Top Altcoins for Accumulation: InvestAnswers

The move comes after Solana has plummeted 40% in 24-hours due to its link with the beleaguered Sam Bankman-Fried empire.

DeFi Exchange Platform dYdX Places Solana in “Close Only” Mode

Leaders and builders are trying to keep positive spirits despite the crashing price, triggered by crypto exchange FTX's unraveling.

Solana Founders Rally Supporters as SOL Falls 57% Amid FTX Collapse

Former Goldman Sachs executive Raoul Pal says one Ethereum (ETH) competitor is presenting one of the most golden opportunities for discounts during the current crypto market crash.

Macro Guru Raoul Pal Says This Ethereum (ETH) Rival Has One of the Most Interesting Altcoin Discounts in Market Crash

Singapore-based Crypto.com told users via email that it had halted withdrawals and deposits for two popular stablecoins on Solana.

Crypto.‌com Pauses Withdrawals of USDC and USDT on Solana

FTX's surprise implosion has rattled the infrastructure of Solana staking.

Staked SOL Tokens Falter as Solana Traders, Stakers Rush for Exits

Bitcoin Cash

Ethereum Classic

Litecoin

Bitcoin Cash (CRYPTO: BCH), Ethereum Classic (CRYPTO: ETC), Litecoin (CRYPTO: LTC) and Solana (CRYPTO: SOL) are all falling sharply Wednesday afternoon. Shares of several altcoins are trading lower during Wednesday's session following a CoinDesk report suggesting Binance is leaning toward scrapping the FTX acquisition.

Bitcoin Cash, Ethereum Classic, Litecoin And Solana Are All Crashing Again: Here's Why

Solana Labs COO Raj Gokal called FTX crisis a “crucible moment” for the Solana ecosystem. The post Solana Labs COO sees ‘crucible' moment' for ecosystem amid FTX crisis appeared first on The Block.

Solana Labs COO sees ‘crucible' moment' for ecosystem amid FTX crisis

Crypto.com withdrawals, deposits news updates: Citing recent industry events, crypto.com informed customers it suspended deposits and withdrawals of (CRYPTO: USDC) and (CRYPTO: USDT) on Solana (CRYPTO: SOL) blockchain. The move comes after the market went through a crypto crash following Binance (CRYPTO: BNB) announced potential acquisition of FTX exchange.

News for Solana Crypto (SOL)