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

Solana's Alpenglow proposal aims to improve the network's consensus mechanism with new, improved architecture.

Solana targets 150-millisecond finality as Alpenglow upgrade proposal enters voting phase

Bitcoin

Dogecoin

Ethereum

Bitcoin stalled, but leading altcoins rose on Wednesday, even as investors assessed Nvidia Corp. (NASDAQ:NVDA) earnings.

Bitcoin Holds Steady While Ethereum, Dogecoin, Solana Climb: Analyst Says Altcoins Could Rally 20%-30% If ETH Does This

Could Solana be headed for a new all-time high? Users on the Myriad prediction market are becoming increasingly bullish.

Moon or Doom: Solana Surge Leads Crypto Rebound—Where Does SOL Go Next?

The Strategic SOL Reserve has released data showing that 13 entities, including public companies and corporate treasuries, collectively hold 8.277 million Solana (CRYPTO: SOL), equivalent to $1.72 billion at a current price of $208.15 per SOL. This represents 1.44% of Solana's total supply, highlighting significant institutional interest in the cryptocurrency.

Institutions Hold $1.72 Billion In Solana, Strategic Reserve Data Reveals

While bitcoin fell 1.5% against the U.S. dollar this week, several digital assets outperformed the leading crypto asset. Altcoins broadly took the lead, with CRO grabbing attention after climbing nearly 90%. Bitcoin Holds $2.22T Market Cap While Altcoins Like CRO and HYPE Drive $3.89T Crypto Economy Higher By 1 p.m. Eastern time on Aug.

CRO Headlines Altcoin Breakout as HYPE, JTO, SOL Join the Rally With Double-Digit Gains

Solana's SOL outperformed the broader crypto market on Wednesday, climbing 7.68% in 24 hours to trade at $208.24, according to CoinDesk Data. By comparison, the CoinDesk 20 Index (CD20) rose 2.89% and the total crypto market cap gained just 1.6% during the same period.

‘If You Missed ETH at $1,400, SOL Is the Next Big Bet': Analyst Explains Why

Long term holders of the Solana (CRYPTO: SOL) cryptocurrency have had a great five years, up over 5,000% to Ethereum's (CRYPTO: ETH) 1,000% gain. This year has been more lackluster for SOL.

Solana's Underperformance This Year Vs. Ethereum Offers A Buying Opportunity

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

CoinDesk 20 Performance Update: Solana (SOL) Gains 4.1% as Index Trades Higher

The fund follows the same route as the REX-Osprey Solana staking ETF and could go live in early November, according to analysts.

REX-Osprey seeks SEC approval for BNB staking ETF, following Solana fund route

Gemini has launched staking for ethereum ( ETH) and solana ( SOL) for users in the United Kingdom, allowing customers to deposit any amount of ETH or SOL on the platform to participate in Proof‑of‑Stake validation and earn staking rewards.

Gemini Launches ETH and SOL Staking in the UK

Europe's push for a digital euro is colliding with U.S. stablecoin momentum, forcing policymakers to weigh the risks of public blockchains.

What a Digital Euro on Ethereum or Solana Means for Europe's Monetary Sovereignty

Will a treasury boom push Solana to a new ATH? Plus crypto majors are bleeding but potentially reversing after Trump moved to fire Fed Governor Lisa Cook.

Morning Minute: The Solana Treasury Gold Rush Accelerates

Bitcoin and Ethereum slumped, but Solana is playing Go with institutional adoption, ETF filings, and a potential CBDC integration.

Solana News: Billions and Billions! SOL Treasuries and ETFs Pile In

Gemini, the crypto exchange founded and led by Tyler and Cameron Winklevoss, expanded its staking services to the U.K., allowing all customers to earn rewards on ether (ETH) and solana (SOL) directly through its platform, the company said in a blog post Tuesday.

Crypto Exchange Gemini Introduces Ether and Solana Staking for All U.K. Customers

This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

Bitcoin Suffers Technical Setback, Loses 100-Day Average as XRP, ETH and SOL Hold Ground

Sharps Technology has announced a $400 million private placement to fund a solana-focused digital asset treasury strategy. The move would make Sharps one of the largest corporate holders of SOL, aligning with solana's rapid growth and institutional adoption. $400 Million Solana Treasury Strategy in the Works for Sharps Technology Sharps Technology, Inc.

Sharps Technology Targets Largest Solana Treasury in $400 Million Private Offering

This initiative may create the largest corporate Solana treasury as existing treasuries hold a combined amount of around $650 million.

Pantera Capital seeks $1.25 billion for Solana treasury firm: The Information

Leading cryptocurrencies dived further on Monday as rising institutional outflows hampered the risk-on sentiment. Cryptocurrency Gains +/- Price (Recorded at 9:10 p.m.

Bitcoin Tumbles Amid ETF Outflows; Ethereum, Dogecoin, Solana Crash: Analytics Firm Says ETH Can Make It To $5,000

Pantera Capital is weighing a plan to raise $1.25 billion to transform a Nasdaq-listed company into a Solana treasury vehicle

Pantera Capital Eyes $1.25B Raise to Create Solana Treasury Firm: Report

Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly working to raise $1 billion for a dedicated solana treasury. The plan would create the largest structured reserve of solana to date, signaling deep institutional confidence in the blockchain.

Galaxy, Multicoin, Jump Crypto Plan $1 Billion Solana Treasury

Cardano

Canary Capital has filed for an ETF that will give investors exposure to coins created in America or primarily supported by U.S. operations.

Canary Files for 'American-Made' Crypto ETF—Will XRP, Solana and Cardano Make the Cut?

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Daily: Strategy now holds 632,457 bitcoins, Philippines eyes BTC reserve, $1 billion Solana treasury firm said to be in the works, and more

Nasdaq-listed Sharps Technology's stock soared after the company announced it will raise $400 million to buy Solana.

Medical Device Firm's Stock Spikes After Pivoting to Solana With $400 Million Treasury Plan

Sharp Technology's pivot to become a Solana DAT puts it alongside firms like Upexi and DeFi Development Corp.

New Solana treasury eyes raising over $400 million with help from ParaFi and Pantera

Solana continued its weekend correction even as an unnamed source says major crypto firms are planning a $1 billion SOL treasury.

News for Solana Crypto (SOL)