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

FTX Token plunged by over 70% in today's session, as sentiment surrounding Binance's potential buyout of FTX continued to raise market eyebrows. Following speculation that FTX could be insolvent, Binance's Changpeng “CZ” Zhao moved to acquire the firm, pending due diligence.

Biggest Movers: FTT Fire Sale Sends Token Over 70% Lower, SOL Also Falls Significantly

Cryptocurrencies were under pressure for a second day Wednesday as the market digested the fallout of Binance's planned bailout of FTX.

Cryptocurrencies pressured as investors digest FTX fallout; Solana loses another 20%

Ethereum

Cryptocurrency prices continued to move lower this morning, with prices for Bitcoin (CRYPTO: BTC), the most valued cryptocurrency in the world, tumbling below the $18,000 level on Wednesday. Ethereum (CRYPTO: ETH) recorded double-digit losses, falling below the $1,200 mark on Wednesday.

Ethereum Dips Below $1,200; FTX Token, Solana Among Biggest Losers

Further downward pressure may be in store for Solana as tokens validators may sell over$300 million worth of sol tokens tomorrow. The post Nearly $1 billion of solana is set to be unlocked in 24 hours appeared first on The Block.

Nearly $1 billion of solana is set to be unlocked in 24 hours

Solend, a lending protocol on Solana, is scrambling to liquidate a large loan to prevent facing bad debt. The post Solend struggling to liquidate SOL loan due to congestion appeared first on The Block.

Solend struggling to liquidate SOL loan due to congestion

Cryptocurrencies associated with Sam Bankman-Fried have fared particularly badly in the last 24 hours. FTT, Solana and Serum are down 35-75%. The post Solana, FTT and Serum prices plummet on back of FTX collapse appeared first on The Block.

Solana, FTT and Serum prices plummet on back of FTX collapse

Bitcoin

A crypto trader known for accurately predicting the previous market crash earlier this year thinks the current digital asset price downtick is “far from over.” The pseudonymous analyst known as Capo warns his 604,900 Twitter followers that the next leg down for crypto is “incoming.

Trader Who Accurately Predicted 2022 Crypto Crash Says End of Market Meltdown in Sight, Details Bitcoin, Solana and FTT Price Targets

The market is experiencing a big sell-off as traders decide what to do with the big market-shifting news.

Bitcoin, Ethereum, Solana Swing Wildly as Market Reacts to Binance-FTX Bombshell

Dogecoin

As euphoria surrounding Elon Musk's acquisition of Twitter begins to fade, DOGE has also plunged by 30% on a seven-day timeframe.

Bitcoin Back Below $20,000 Amid Nerves over FTX and Midterms — Dogecoin and Solana Hit Hard

With general uncertainty following high tensions between exchanges FTX and Binance, traders are dumping SOL tokens. The post Solana price slumps amid FTX, Binance founder fallout appeared first on The Block.

Solana price slumps amid FTX, Binance founder fallout

A crypto analyst and trader known for accurately predicting the big 2022 market crash is putting Solana (SOL) bulls on notice. The pseudonymous analyst known as Capo tells his 588,000 Twitter followers that crypto markets are likely forming a classic bull trap.

Analyst Who Called This Year's Crypto Collapse Issues Solana Alert, Says Traders Not Ready for What's Coming

B2C2 said that crypto traders will likely be paying more attention to the price of Solana and FTT than economic data in the short term. The post B2C2: Crypto market sentiment could hinge on Solana and FTX's native tokens appeared first on The Block.

B2C2: Crypto market sentiment could hinge on Solana and FTX's native tokens

Google Cloud, the cloud service provider behind leading corporate giants including Twitter, Deutsche Bank and United Parcel Service (UPS), says it's working on several new projects that support the Solana (SOL) ecosystem.

Google Says Cloud Division Now a Solana Validator, Reveals More Projects Designed for Top Ethereum Competitor

The two-time college football national champion and Heisman Trophy winner seeks to capitalize on the athletes' freedom to get endorsement deals.

From NFL to NFTs, Tim Tebow Gets Into the College Game With Solana-Based Platform

A new Solana scaling protocol named Layer N that could quicken DeFi derivatives and on-chain social networks has come out of a stealth development phase ahead of a mainnet launch expected next year.  The post Solana scaling protocol Layer N comes out of stealth mode appeared first on The Block.

Solana scaling protocol Layer N comes out of stealth mode

Neon Labs is nearing the launch of its long-awaited Ethereum Virtual Machine for Solana

Ethereum Apps Could Soon be Launching on Competitor Solana

Neon Labs plans to deploy an Ethereum-based smart contract layer on the Solana blockchain in the first week of December.  The post Neon Labs plans to support EVM on Solana in early December appeared first on The Block.

Neon Labs plans to support EVM on Solana in early December

The token backing the speedy layer-1 blockchain Solana has plummeted over the past 24 hours amid dwindling NFT activity.

Solana Token Down Double-Digits as NFT Growth Plummets

Solana (CRYPTO: SOL) is plunging, even as Google Cloud announced that it established itself as a Solana validator. What Happened: The price of SOL declined by 9.84%, trading at $32.61 on Sunday, 8:48 p.m.

Google Effect Over? Solana (SOL) Down 10% Today

After Google Cloud announced that it would offer a product called the “Blockchain Node Engine” and further noted that Ethereum would be the first blockchain supported, the company revealed it was running a Solana validator on Nov. 5, 2022.

Google Cloud Is Running a Solana Validator, Blockchain Node Engine to Support SOL Chain Next Year

The world's biggest-selling NFT artist will branch out from Ethereum to Solana via Metaplex and Render Network.

Beeple Is Bringing 'Immersive 3D NFTs' to Solana

The sports betting exchange will go live on Solana mainnet in time for the soccer World Cup, offering customers fee-free betting to mark its opening. The post BetDEX to go live on Solana mainnet before World Cup in Qatar: Exclusive appeared first on The Block.

BetDEX to go live on Solana mainnet before World Cup in Qatar: Exclusive

The Euro-backed stablecoin will launch on Solana in the first half of 2023, alongside Circle's Cross-Chain Transfer Protocol.

Circle's Euro Coin Coming To Solana in 2023

A trio of widely followed crypto strategists believes that more rallies are in sight for top Ethereum (ETH) competitor Solana (SOL).

Top Crypto Analysts Forecast Extended Rally for Ethereum Rival Solana – Here Are Their Targets

Payments firm Circle is also expanding its cross-chain transfer protocol to include Solana in the same timeframe. The post Circle is bringing Euro Coin to Solana in first half of 2023 appeared first on The Block.

News for Solana Crypto (SOL)