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

Avalanche

Terra

A slew of smart contract platforms have been surging in price over the past 30 days, and blockchain analytics firm Glassnode is digging into the metrics to determine whether or not any of these platforms can compete with Ethereum (ETH) in the future. Avalanche (AVAX), Solana (SOL), and Terra (LUNA) have all exploded over the […] The post Can These Surging Altcoins Compete With Ethereum? Glassnode Analyzes Three Growing Platforms appeared first on The Daily Hodl.

Can These Surging Altcoins Compete With Ethereum? Glassnode Analyzes Three Growing Platforms

Crypto markets are prospering today, especially the altcoins.

Solana Rallies 9% as Global Crypto Market Surges to $2.3 Trillion

Solana (CRYPTO: SOL) took a major lift up since its yesterday's price, as Ethereum (CRYPTO: ETH) killers continue raking in gains.

Solana Up 25%, Hitting New All-Time Highs As Hopes For DeFi Explosion Grow

Less than a week after its native token reached new highs, SOL has done it again on the back of institutional interest in the cryptocurrency.

Solana Records New All-Time High for Second Time in a Week

Ethereum

Total value locked in DeFi protocols is near an all-time-high across chains.

Ethereum, Binance Smart Chain, Solana Send DeFi Value to Record Levels

Chainlink

With Chainlink oracles now live on Solana's developer network, builders have access to reliable price data.

Solana Developers Can Now Use Chainlink's DeFi Price Feeds

Pyth Network, a decentralized, cross-chain data oracle built on the Solana blockchain, is going live tomorrow, August 26. The post Solana-based data oracle Pyth Network is going live appeared first on The Block.

Solana-based data oracle Pyth Network is going live

Backed by an array of high-frequency traders, the data pipeline's mainnet launch is imminent. But key details like governance structure remain unresolved.

Pyth Launch to Bring Quant Firms' Market Data to Solana

Solana's (CRYPTO: SOL) price has decreased 8.64% over the past 24 hours to $68.15, continuing its downward trend over the past week of -13.0%, moving from $77.71 to its current price.

Cryptocurrency Solana Tumbles More Than 8% In 24 hours

Cardano

"It is normal for investors to reduce exposure to enter at a lower price," one observer said.

ADA, SOL Lead the Way as Crypto Market Sees Price Pullback

Apricot said it intends to use its newly raised capital to support the roll-out of its initial flagship services.

Solana's Apricot Finance Raises $4M in 'Party' Funding Round

Osprey appears to have beaten Grayscale in the race to get a Solana vehicle into the market.

Osprey Readies SOL Fund as Solana Attracts Institutional Interest

High-speed blockchain Solana (CRYPTO: SOL) has seen its price appreciate by 100% over one month. What Happened: The token's price climbed from just $27 on July 25 to an all-time high of $81 on August 20.

Ethereum Competitor Solana Leads Digital Asset Weekly Inflows With $7.1M

The prevalent narrative in the cryptocurrency world this year has revolved around the concept of decentralized finance or DeFi. Blockchain technology has ushered in possibilities of much-needed transformation in the global financial system.

Phemex Announces Support For Solana [SOL]

Bitcoin

Digital asset manager CoinShares says Ethereum competitor Solana recorded more institutional capital inflows than any other crypto asset last week. In its weekly report, the firm says Solana recorded more than twice the amount of institutional capital than Ethereum. “Solana, a competitor to Ethereum offering a flexible infrastructure and faster transaction settlement, saw the largest […] The post Institutions Pouring Money Into Solana and Cardano, Current Rate Outpacing Both Bitcoin and Ethereum: CoinShares appeared first on The Daily Hodl.

Institutions Pouring Money Into Solana and Cardano, Current Rate Outpacing Both Bitcoin and Ethereum: CoinShares

Dogecoin

A widely followed crypto trader is warning people to not forget about leading meme crypto asset Dogecoin (DOGE), and he's also flipping bullish on one Solana-based digital asset. The pseudonymous trader known as Kaleo tells his 356,000 Twitter followers that he's bullish on DOGE. Worth saying one more time because I love you guys – […] The post Top Trader Warns Not To Sleep on Dogecoin, Flips Mega Bullish on This Solana-Based Altcoin appeared first on The Daily Hodl.

Top Trader Warns Not To Sleep on Dogecoin, Flips Mega Bullish on This Solana-Based Altcoin

Luna Yield has disappeared, taking $6.7 million of investors funds with it.

Solana DeFi Protocol Luna Yield Goes Dark With $6.7 Million in Crypto

Solana and Polygon, two scalable alternatives to Ethereum, lead the altcoin charge today as crypto markets grew 2.74% overnight.

Ethereum Competitor Solana Hits All-Time High As Market Continues to Rise

Over the past 24 hours, Solana's (CRYPTO: SOL) price rose 5.49% to $75.61. This continues its positive trend over the past week where it has experienced a 73.0% gain, moving from $43.62 to its current price.

Solana's Price Increased More Than 5% Within 24 hours

Famed investment strategist Lyn Alden has predicted bitcoin will hit $100,000 and ethereum will reach $5,000 as soon as next year...

Crypto Price Prediction: Bitcoin Could Be About To Soar To $100,000 And Ethereum To $5,000 As Cardano And Solana Suddenly Surge

A closely followed crypto trader is predicting new all-time highs for Ethereum competitor Solana (SOL) and exchange token FTT and says one meme coin is in the midst of a breakout. The pseudonymous trader, known as Smart Contracter, tells his 158,800 followers that even though SOL has just reached a fresh all-time high, the blazing […] The post Popular Crypto Trader Predicts New All-Time Highs for Solana and FTT, Says This Memecoin Is Breaking Out appeared first on The Daily Hodl.

Popular Crypto Trader Predicts New All-Time Highs for Solana and FTT, Says This Memecoin Is Breaking Out

Solana's native cryptocurrency SOL is up 96% on the week amidst rising NFT and DeFi usage on the high-volume blockchain network.

Ethereum Rival Solana Has Nearly Doubled in Price in One Week

This summer's NFT boom may be a key reason behind a spike in Arweave, a decentralized storage project underpinning several key marketplaces. 

Decentralized Storage Project Arweave Up 66% In A Week Amid Solana's NFT Summer

The SOL coin also hit an all-time high price today.

Solana DeFi Now Has More Than $2 Billion Flowing Through It

Ethereum Classic

After pulling data from Benzinga Pro the following is the list of top crypto gainers and losers at the time of publication:

News for Solana Crypto (SOL)