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

Ethereum

Metaplex Studios aims to help grow the existing ecosystem of NFT marketplaces on Solana, and it has a new CEO to lead the way.

Solana Launches Metaplex Studios to Grow NFTs Outside of Ethereum

A body formed to steer the development of Metaplex, an open-source platform for building NFT storefronts, has named former Citadel and Google executive Adam Jeffries as CEO, according to a press release. The post Solana-based NFT platform Metaplex Studios names new CEO and advisory board appeared first on The Block.

Solana-based NFT platform Metaplex Studios names new CEO and advisory board

Jefferies will be joined by a new board that includes members from Audius, Coinshares, Cultur3 Capital, Phantom and Saber Labs.

Solana-Based NFT Firm Metaplex Names Adam Jefferies CEO of New Studio

Avalanche

The cryptocurrency market is in the red today, and Ethereum and key rivals are sinking further than Bitcoin.

Crypto Market Sheds $73 Billion—Ethereum, Solana, Avalanche Hit Harder Than Bitcoin

Hedgehog's experimental wagers combine prediction markets with stablecoins, decentralized finance and gamification.

Solana-Based Prediction Market Uses DeFi Yields to Finance ‘No Loss' Betting

The site will place a heavy focus on monetization opportunities for content creators.

‘Solcial' Raises $2.9M to Build Censorship-Free Social Media on Solana

Solana's (CRYPTO: SOL) price has increased 6.98% over the past 24 hours to $145.33. Over the past week, SOL has experienced an uptick of over 2.0%, moving from $143.31 to its current price.

Cryptocurrency Solana's Price Increased More Than 6% Within 24 hours

Marco guru Raoul Pal says smart contract platform Solana is poised to be one of the best performers this cycle as he believes it is following the footsteps of Ethereum's 2017 bull cycle. In a new interview on BitBoy Crypto, the founder of Real Vision and Global Macro Investor identifies key factors that could make SOL […] The post Solana Adoption Speed Is Ridiculous, Crypto Asset Is Likely the Ethereum of This Cycle: Macro Guru Raoul Pal appeared first on The Daily Hodl.

Solana Adoption Speed Is Ridiculous, Crypto Asset Is Likely the Ethereum of This Cycle: Macro Guru Raoul Pal

Quick Take Crypto wallet Phantom has become the de facto wallet on Solana. Here's how it has evolved, what features are coming and whether it will issue a token.

A close look at Phantom, Solana's take on MetaMask

Solana DeFi users can now swap wrapped stables via a Mercurial Finance liquidity pool

Bridged Stablecoins on Solana Get a Boost With Mercurial Finance Pools

Cardano

Fantom

Michaël van de Poppe is sharing his updated forecast for two leading altcoins, Cardano (ADA) and XRP. In his new video, the crypto analyst says that Cardano has hit important price levels, breaching the $1.90 to $2.10 range. “I'm assuming that Cardano is quite close to being bottomed out at this stage, through which we […] The post Top Analyst Plots Path Ahead for Cardano and XRP, Says Three Altcoins Are Now Attractive After Dip appeared first on The Daily Hodl.

Top Analyst Plots Path Ahead for Cardano and XRP, Says Three Altcoins Are Now Attractive After Dip

Bitcoin

A popular pseudonymous crypto analyst who accurately predicted Bitcoin and Ethereum's recent pullback is updating his outlook on the markets. In a new market update, Smart Contracter says Ethereum now appears to have hit a bottom. “I do think we've just hit a major correction low and we're probably already bottomed here and I do […] The post Analyst Who Called Crypto Crash Updates Bitcoin and Ethereum Outlook, Predicts One Altcoin Likely To Bounce Hard appeared first on The Daily Hodl.

Analyst Who Called Crypto Crash Updates Bitcoin and Ethereum Outlook, Predicts One Altcoin Likely To Bounce Hard

Solana's sol token experienced some compelling gains lately, rising more than 30% in a few days. This project, which claims to have the fastest blockchain in existence, has generated significant visibility. Where will it go next?

Solana Prices Rally As Multiple Tailwinds Fuel Gains

The Wormhole NFT Bridge moves assets from one blockchain to another, much like the earlier DeFi-centric bridge.

From Ethereum to Solana and Back: Wormhole Lets You Send Your NFTs Across Blockchains

Last Friday, blockchain project the Wormhole Network launched the protocol's ethereum ↔ solana bridge which enables users to exchange assets from both networks in a cross-chain fashion. Five days later, the Wormhole Network team announced the launch of a non-fungible token (NFT) bridge for transferring NFTs between both blockchains. Wormhole Launches Ethereum ↔ Solana NFT […]

Wormhole Releases Solana and Ethereum NFT Bridge — A Bi-Directional Highway for Blockchain Collectibles

Solrise Finance will host the Civic Pass, which aims to make DeFi chime with institutions.

Why Civic Is Building DeFi Identity Tools on Solana

The company is the first of the major crypto trackers to bring its compliance tools to the Solana blockchain.

TRM Labs to Bring Crypto Tracing Tools to Solana

Seven-time Super Bowl champion Tom Brady said that he “would love to be paid” in cryptocurrency.

Tom Brady Wants To Be Paid In Bitcoin, Ethereum And Solana

Grape has raised $1.2 million in a seed round led by Multicoin Capital to keep up with the "monumental" demand for DAOs on Solana, says co-founder.

Grape's Token Sale Took Down Solana—Now It's Raising More Money for Its Army of DAOs

Grape Network, a Solana-based protocol that was involved in the network outage last week, has raised $1.2 million in a seed funding round. The post Solana-based Grape protocol raises $1.2 million in seed funding appeared first on The Block.

Solana-based Grape protocol raises $1.2 million in seed funding

Key contributor Dean Pappas said he didn't mean for his project's public token sale to crash an entire ecosystem. Now VCs are following suit.

Grape Network, the Startup That Broke Solana, Raises $1.8M

The decentralized exchange (dex) platform Orca has announced the platform has raised $18 million in a Series A financing round with Polychain, Placeholder, and Three Arrows co-leading the funding. The dex platform is a Solana-based project that aims to be the “go-to swap” platform for Solana. Solana's Orca Gets an $18 Million Capital Raise On […]

Solana-Powered Defi Platform Orca Raises $18 Million — AMM Commands Over $300 Million TVL

Orca will use the fresh funding injection to continue developing its automated market maker (AMM).

Solana-Based DEX Orca Raises $18M Series A Funding

Orca, a Solana-based decentralized cryptocurrency exchange, has raised $18 million in a Series A funding round. The post Solana-based DEX Orca raises $18 million from Three Arrows Capital and others appeared first on The Block.

Solana-based DEX Orca raises $18 million from Three Arrows Capital and others

Polychain, Placeholder, and Three Arrows Capital led a Series A financing round for Solana-based automated market maker Orca.

News for Solana Crypto (SOL)