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

Franklin Templeton, a leading investment firm with over $1.5 trillion in assets under management (AUM), believes Solana has the potential to become the third-largest cryptocurrency in the market. The firm praised the resilience of the project, its continued airdrops, and the work developers have undertaken to fix the network's recent congestion issues.

Investment Firm Franklin Templeton Believes Solana Will Become the Third Largest Crypto Asset

Bonk

Dogecoin

dogwifhat

WIF is the only meme coin in the top 100 posting gains amid a broader crypto dip. Other popular meme coins are struggling to maintain momentum.

Solana's Dogwifhat Pumps as Bonk, Dogecoin and Other Meme Coins Lose Ground

Joe McCann, founder and CIO of Asymmetric, provided a bullish outlook on Solana‘s (CRYPTO: SOL) future in the cryptocurrency market, praising its architecture for its high throughput and low transaction costs, essential for broader adoption. What Happened: In a podcast with Raoul Pal of Real Vision, he highlighted the upcoming “Fire Dancer” update, developed by Jump Crypto, which aims to significantly increase Solana's transaction capacity to one million transactions per second.

Why Solana Has Been 'An Almost Obvious Play,' According To This Crypto VC

Bitcoin

Ethereum

Solana is the biggest gainer in the top 10 cryptocurrencies on an otherwise quiet Monday morning, as Bitcoin and Ethereum tick down.

Solana Price Jumps Nearly 5% as Bitcoin, Ethereum Lag Behind

Smart contracts, not humans, are driving nearly all stablecoin arbitrage, liquidity provision, and market making.

90% of Ethereum, Tron, Solana Stablecoin Transactions Are ‘Inorgranic Activity', Visa Says

Global investment giant Franklin Templeton thinks Solana (SOL) is primed to establish itself as the “third major crypto asset” after Bitcoin (BTC) and Ethereum (ETH). In a new analysis, the firm's digital assets unit notes that the Solana network has witnessed significant increases in total fees and decentralized exchange (DEX) volumes in the past year.

Solana Primed To Establish Itself As ‘Third Major Crypto Asset' After Bitcoin and Ethereum: Franklin Templeton

A closely followed crypto strategist is updating his outlook on one red-hot altcoin amid a crypto market correction. Pseudonymous analyst Altcoin Sherpa tells his 215,800 followers on the social media platform X that he is long-term bullish on Ondo Finance (ONDO), a project focused on tokenizing real-world assets (RWAs).

Trader Updates Outlook on Altcoin That's Exploded Over 900% Year-to-Date, Maps Path Forward for Solana Rival Sui

Pepe

Viktor, a pseudonymous researcher focused on decentralized finance, recently shared his thoughts on the potential for altcoins to outperform Bitcoin (CRYPTO: BTC) in the current market. What Happened: In his latest tweet, the researcher noted that altcoins have been performing better than Bitcoin during the recent market downturn.

Is This The Time To Buy Altcoins? Crypto Researcher Sees These '2 Main Options'

A closely followed crypto strategist is warning that Bitcoin (BTC) may not yet be done correcting. Pseudonymous analyst Altcoin Sherpa tells his 215,800 followers on the social media platform X that only after Bitcoin reclaims the $60,000 level will he have more confidence a bullish reversal is occurring.

Crypto Trader Warns Bitcoin Not ‘Out of the Woods Yet,' Maps Path Forward for Solana and Ethena

Jito Network became the top DeFi protocol on Solana, with liquid staking pool token JitoSOL rising by 8.5%.

Jito Price Jumps After Topping Solana DeFi Protocols With $1 Billion Locked

Cryptocurrency markets on Thursday clawed back some of their losses earlier in the week, with Bitcoin open interest sinking to its lowest levels in two months. What Happened: Major cryptocurrencies are up moderately at the time of writing: Prices as of 4 p.m.

Bitcoin Battles To 'Reclaim Some Levels,' Solana, Meme Coins Leading The Rebound: The Thursday Play-By-Play

Bitcoin is rising after a rough week, but meme coins like Pepe, Bonk, Dogwifhat, and Dogecoin are the biggest winners today.

Ethereum and Solana Meme Coin Prices Surge Amid Modest Bitcoin Gains

Jito now has 10 million SOL ($1.4 billion) in total value locked — accounting for some 38% of Solana's overall TVL.

Jito becomes largest protocol on Solana with $1.4 billion in TVL

Leverage traders are seeing red after Bitcoin (BTC) suddenly plummeted below $58,000, dragging altcoins down with it. According to crypto data aggregator Coinglass, over $448,490,000 in liquidations have occurred in the last 24 hours – more than 84% from leveraged longs. Leading exchange OKX hosted the largest amount of liquidations at $171.

Over $448,000,000 in Bitcoin, Ethereum, Solana, Dogecoin and Other Coins Liquidated As BTC Crashes Below $58,000

Cosmos

Solana (SOL) co-founder Raj Gokal is naming two blockchains that have a head start in the sovereign blockchains crypto sub-sector. At a TOKEN2049 panel discussion, Gokal says that Avalanche (AVAX) and Cosmos Hub (ATOM) are “the clear winners” with regard to sovereign blockchains.

Solana Co-Founder Says Cosmos and One SOL Rival Are Clear Winners in Building Sovereign Blockchains

Sales of non-fungible tokens (NFTs) experienced a 31.26% decline in April from the revenues recorded in March. Last month, statistics show that NFT transactions across several markets totaled approximately $1.15 billion in sales.

NFT Sales Dip Over 31% in April; Ethereum, Solana Experience Sharp Declines

Baxus, an alcohol beverage trading platform that authenticates ownership and transactions with blockchain, announced it has raised $5 million in a seed round led by Multicoin Capital. Solana Ventures, FJ Labs and Narwhal Ventures also participated, the firm said.

Blockchain booze trading platform Baxus raises $5 million from Multicoin, Solana Ventures

Restaking has taken hold of the Ethereum ecosystem. With Jito and a handful of other companies building for Solana, can the trend spread?

Restaking 'Gold Rush' Spreads to Solana From Ethereum, With Jito and Others Joining In

Avalanche

A closely followed crypto strategist is predicting one Ethereum (ETH) competitor could go on a massive rally following a market correction. Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that Solana (SOL) may retest $120 before a parabolic rally to more than $500 later this year.

Trader Predicts Massive Rallies for Solana This Year, Updates Outlook on One More Ethereum Rival

Cryptocurrency markets continue to bleed, with the FOMC meeting and poor ETF performances in the U.S. and Hong Kong weighing heavy on the markets. What Happened: Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL) and Dogecoin (CRYPTO: DOGE) started May with heavy losses.

Bitcoin Plummets Below $58K, ETH, SOL, DOGE Follow: Over $400M Liquidated In 'Deepest Retrace In The Cycle'

The FTX estate is completing the sale of another batch of locked SOL through an auction that saw higher prices than the first sale.

FTX estate wraps up second tranche of locked Solana sales with bids around $100

Prominent cryptocurrency trader Michael van de Poppe in a recent podcast shared his insights on the upcoming altcoin season and the importance of understanding market rotations to maximize returns. What Happened: Van de Poppe believes that by identifying opportunities in altcoins and strategically rotating profits back into Bitcoin (CRYPTO: BTC), investors can outperform the market and maintain their purchasing power in the face of inflation.

Crypto Trader Michael Van De Poppe Highlights Runs In Solana, Meme Coins, Predicts 'There Is Always An Altcoin Season'

Users on X had raised questions about the number of GPUs available on Io.net's platform, leading the protocol's executives to respond.

Solana-based DePIN io.net CEO claims network was attacked in detailed postmortem

Anza, a dev collective behind Solana, recommended the adoption of Agave v1.18.12 into the blockchain's devnet and testnet. This new version of the mentioned client ships with a central scheduler that aims to reduce congestion by increasing fee collection and reducing conflicting transactions. Anza is calling for increased testing on this functionality.

Solana Advances Congestion-Alleviating Central Scheduler Feature to Testnet

A recent forecast by cryptocurrency strategist Altcoin Sherpa suggests an impressive surge in the value of Solana (CRYPTO: SOL). According to him, the digital asset is expected to climb by a whopping 267% by year's end, potentially breaking the $500 mark.

News for Solana Crypto (SOL)