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

SOL is taking a harder hit than Bitcoin or Ethereum today, falling to a four-month low.

Solana Price Plunges Below $30 for First Time Since June

Phony non-fungible token (NFT) airdrops are reportedly targeting Solana (SOL) wallets with malware to steal passwords and digital assets. According to a new report by BleepingComputer, attacks began two weeks ago and pose as needed Phantom security upgrades titled “PHANTOMUPDATE.COM” or “UPDATEPHANTOM.COM.

Fake NFT Airdrops Attempting To Compromise Solana (SOL) Wallets and Siphon Crypto Assets: Report

According to various reports, the Solana-based trading and lending platform Mango Markets was hacked as a malicious actor was able to siphon $117 million from the protocol.

Solana-Based Defi Protocol Mango Markets Loses $117 Million in Hack, Exploit Allegedly Revealed in Project's Discord in March

Cardano

Avalanche

As the crypto bear market's grip tightens, several major Layer-1 coins are down heavily in the last seven days.

Layer-1 Blockchains Solana, Cardano, Avalanche Down 8% Over the Week

Mango, a Decentralised Finance (DeFi) platform has been exploited by hackers for over $100 million, marking the second such unauthorized break-in this week.  What Happened: The DeFi platform tweeted it is “currently investigating an incident where a hacker was able to drain funds from Mango via an ‘oracle price' manipulation”.

Solana-Based DeFi Mango (MNGO) Loses $100M In Hack, Token Tumbles 42%

The latest hack comes less than a week after BNB Chain lost $100 million.

Solana DeFi Trading Platform Mango Markets Loses $100M in Hack

Mango's MNGO token was down over 40% amid fears of another massive decentralized finance exploit.

Solana-Based Decentralized Finance Platform Mango Hit by Potential $100 Million Exploit

The popular Solana NFT brand becomes the latest collection to switch to a royalty-free scheme.

DeGods Solana NFT Collection Joins Zero Royalty Bandwagon

Chainlink

A closely followed analyst known for making timely Bitcoin (BTC) and altcoin calls says XRP is one of the strongest assets in the crypto markets.

Top Analyst Says XRP Has One of Best-Looking Charts in Crypto, Updates Outlook on Chainlink and Solana

Former Goldman Sachs executive Raoul Pal says one particular Ethereum (ETH) rival is likely to outshine the rest of the crypto markets next bull cycle.

One Ethereum Competitor Has Very High Chance of Leading Next Bull Cycle, According to Macro Guru Raoul Pal

Crypto analytics platform Santiment says many are bearish on Solana (SOL), Tron (TRX) and Binance Coin (BNB), which might signal a bottom is near. According to Santiment, heavy bearish sentiment is sometimes a signal for an imminent upswing in price.

Sentiment Heavily Bearish on Solana, Tron and One More Ethereum Rival, Says Analytics Firm – But There's a Catch

Anatoly Yakovenko shared what he believes will finally solve Solana's biggest problem.

Solana Co-Founder Says 'Long-Term Fix' to Network Outages Is in the Works

Solana has had a year of amazing growth—but also multiple network outages. Co-founder Anatoly Yakovenko joined Dan Roberts and Stacy Elliott on the gm podcast to talk about the outages, what's next for Solana at its upcoming Breakpoint event, how it competes with Ethereum, how long he expects the bear market to last, what's happening with NFTs on Solana, and much more.

gm: All Things Solana With Anatoly Yakovenko

The Solana Foundation provided key details on what caused the Solana blockchain's most recent downtime. The post Solana's latest downtime caused by code bug and malfunctioning node appeared first on The Block.

Solana's latest downtime caused by code bug and malfunctioning node

The Solana co-founder joins Decrypt's gm podcast to talk crypto winter vibes and the value of Solana's Breakpoint conference.

Fed-Fueled Crypto Bear Market Could Last 12-18 More Months: Solana Co-Founder

Uniswap

Uniswap moved closer to its highest point since late August on Thursday, as the token extended recent gains. Today's surge is the fourth consecutive day that prices have climbed, leading the token to break out of a key resistance level in the process.

Biggest Movers: UNI Closes in on 5-Week High, While SOL Also Climbs

Ethereum

Solana NFT sales volume nearly doubled last month as the wider market remains largely flat—down roughly 82% from January highs.

NFT Monthly Sales Top $947M as Solana Gains Ground on Ethereum

A closely followed crypto analyst says that Ethereum (ETH) rival Solana (SOL) could be on its way to bringing a billion more users to the digital asset space.

Despite Outages, Solana (SOL) Still Has Power To Bring 1,000,000,000 More People to Crypto: InvestAnswers

The blockchain is back online after a restart, but it's yet another blow to the credibility of a network that has been described as an "Ethereum killer."

Solana Goes Down Again — One Month After Co-Founder Admitted Outages Are Blockchain's Curse

The Solana network (CRYPTO: SOL) stopped processing transactions and went offline on Friday due to a misconfigured node, marking the blockchain's fourth significant outage since January, when it had a succession of partial outages for most of that month. One year has passed since a roughly 18-hour outage in September of last year.

Touted As The 'Ethereum Killer,' Solana Suffers Fourth Outage This Year

The Web3 brand's vibe is "punk rock meets hyperfemininity," tapping NFTs that can be redeemed for apparel and other products.

How PussyDAO Is Using Solana NFTs to Sell Physical Underwear

Key data on NFTs, gaming and the metaverse for September. The post September NFT data wrap: Minting on Solana hits new high appeared first on The Block.

September NFT data wrap: Minting on Solana hits new high

The proof-of-stake (PoS) blockchain network Solana suffered another outage on September 30 and the network restart did not take effect until six hours later on October 1.

Solana Network Suffers Another Outage — Cyber Capital Founder Says Downtime Is ‘Another Consequence of Bad Design'

Solana is back online following an outage on Friday night caused by a misconfigured node that stopped the blockchain from processing transactions. The post Solana back online following latest network outage appeared first on The Block.

Solana back online following latest network outage

The popular blockchain has suffered a handful of outages and transaction stops this year, including a string of partial outages in January.

News for Solana Crypto (SOL)