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

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 Solana is unique among L1 chains for its execution-focused architecture that relies on a close integration between validator software and hardware A litany of performance and downtime issues in the past year has highlighted the challenges of optimizing the protocol through frequent mainnet upgrades The latest release (v1.13.4) introduces a major change with the activation of the QUIC protocol and discontinuation of UDP, setting the stage for future stress tests of its new transaction processing capabilities

Layer by Layer: Solana Moves to Improve Network Performance

Solana's NFT scene has had a rough month amid creator royalty disputes. The rising Aptos space may be taking advantage.

Aptos Is Luring Away Solana NFT Traders and Creators—Will It Last?

Tulip and UXD lost hefty sums after Mango Markets was hacked—but both protocols today said they retrieved the tokens.

Solana DeFi Projects Reopen Following $114M Mango Markets Hack

Two Solana-based protocols have taken initial steps to reopen their services after the Mango Markets exploit. The post Solana projects reopen after getting funds back from Mango Markets appeared first on The Block.

Solana projects reopen after getting funds back from Mango Markets

A popular crypto analyst is predicting an exponential rally for one of Ethereum's (ETH) biggest competitors. The anonymous host of InvestAnswers tells his 444,000 YouTube subscribers that the rapid adoption of smart contract platform Solana could be the fuel that sends SOL back to its all-time high of $259.65.

Crypto Analyst Predicts 825% Rally for Top Ethereum (ETH) Competitor on Back of Rapid Adoption

A closely followed crypto strategist is issuing a warning to Solana (SOL) holders, saying that the top Ethereum (ETH) challenger could spiral out of control.

Crypto Strategist Issues Solana Warning, Says SOL Good Candidate for Crumbling Out of Control

Ethereum

BitMEX co-founder Arthur Hayes says leading Ethereum (ETH) competitors probably don't stand a chance of taking out the leading smart contract platform.

BitMEX Founder Arthur Hayes Reveals Ethereum, Solana and ETH Rival Predictions for Next Crypto Cycle

After Solana NFT marketplaces make paying royalties optional, Metaplex seeks to give creators a path to enforce them on-chain.

Solana Could Get Enforceable NFT Royalties Via New Metaplex Standard

Coinbase is adding two more under-the-radar altcoins to its listing roadmap, including the governance token of a non-custodial liquid staking protocol built on Solana (SOL). The exchange announced on Thursday that the roadmap now includes Marinade (MNDE) and one related staking altcoin.

Top Crypto Exchange Coinbase Adds Two Assets Related to Solana (SOL) Staking Project to Its Listing Roadmap

Solana Labs founder Anatoly Yakovenko described its move into smartphone hardware as a 'developer play' to usher in a new Web3 paradigm.

Solana Web3 Phone 'One of the Moonshots': Anatoly Yakovenko

The infrastructure startup, hailing from former Coinbase and Amazon engineers, built a streamlined Solana development platform.

Helius Raises $3.1M to Make Solana App Building 'Faster and Cheaper'

Arcade2Earn has raised $3.2 million in a seed funding round led by Crypto.com Capital. The Solana-based gaming platform doesn't require players to own NFTs, while still reaping rewards. The post Solana-based gaming platform Arcade2Earn raises $3.2 million: Exclusive appeared first on The Block.

Solana-based gaming platform Arcade2Earn raises $3.2 million: Exclusive

As the crypto winter set in, Catheon Gaming halved its headcount and saw a planned fundraise fall through. Now, the startup is planning a new token launch and a new play-to-earn gaming platform.  The post Sol-searching: After halving headcount, SolChicks creator plows on with new P2E platform appeared first on The Block.

Sol-searching: After halving headcount, SolChicks creator plows on with new P2E platform

Despite several high-profile hacks, Solana remains a popular rival to the much larger Ethereum.

Solana Founder: We're More 'Complementary' to Ethereum Than 'Killer'

A crypto trader has stepped into the spotlight in an effort to clear the air on how Mango Markets, a Solana-based decentralized finance (DeFi) trading platform, recently lost $100 million.

Crypto Trader Admits Involvement in Solana-Based DeFi Protocol's Recent $100,000,000 Loss

A crypto strategist who continues to build a following with timely altcoin calls says one Ethereum (ETH) challenger could generate massive growth for long-term holders. Pseudonymous analyst Altcoin Sherpa tells his 184,700 Twitter followers that he believes smart contract platform Solana (SOL) looks primed for a fresh leg down.

Ethereum Rival Could Generate 900% Growth for Long-Term Bulls as One Altcoin Gears Up for Fresh Rally: Analyst

Solana's top NFT marketplace no longer forces traders to pay creator royalties after rival upstarts cut into its market share.

Magic Eden Flip-Flops on Solana NFT Royalties, Making Them Optional

Fantom

Polygon

A widely followed crypto analyst has revealed his top three most promising altcoins to accumulate before the next bull cycle.

Here Are Top Three Altcoins To Accumulate for the Next Bull Cycle, According to InvestAnswers

Cardano

Closely followed crypto strategist Jason Pizzino is warning Cardano holders that ADA may witness an additional decline of over 50% even after this year's deep correction.

Top Crypto Analyst Warns Cardano Could Crash Further by Over 50%, Predicts What's Next for Solana and Fantom

A Solana-based (SOL) crypto trading platform is ready to cut a deal with the hacker that allegedly stole millions of dollars from its network.

Solana-Based Crypto Trading Platform Mango Markets Primed To Cut Deal With Hacker Behind $100,000,000 Exploit

Magic Eden is the latest NFT marketplace to move to an optional royalty model as the debate about NFT royalties continues. The post Solana NFT platform Magic Eden opts for optional royalty payments appeared first on The Block.

Solana NFT platform Magic Eden opts for optional royalty payments

A closely followed trader says that he's investing in one Solana-based (SOL) move-to-earn project with the expectation that the token will spark a series of massive rallies.

Trader Who Called 2022 Crypto Collapse Predicts 248% Rally for Solana-Based Altcoin – Here's His Target

Bitcoin

A popular cryptocurrency analyst and trader is mapping out the path forward for Bitcoin (BTC), Solana (SOL) and Cardano (ADA). Starting with Bitcoin, crypto trader Jason Pizzino tells his 276,000 YouTube subscribers that the flagship crypto asset is facing an uncertain trend after recording successive lower highs for about a week.

Analyst Updates Outlook on Bitcoin and Solana, Says One Catalyst Could Trigger Cardano To ‘Roll the Market Over'

Are creator NFT royalties on the way out on Solana? Zero-royalty trading platforms are quickly gaining traction, and Magic Eden is adapting.

Magic Eden Losing Market Share as Solana NFT Traders Reject Royalties

A decentralized exchange (DEX) on the Solana (SOL) blockchain, Mango Markets, says an attacker took off with crypto assets worth tens of millions of dollars following an exploit on the platform.

News for Solana Crypto (SOL)