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

This week, SOL's value has seen a significant increase, elevating its decentralized exchange (dex) platforms and propelling the layer one (L1) blockchain to a leading position in 24-hour dex trading volume. Solana's dex platforms have amassed $2.802 billion in trade volume over the past day, outperforming Ethereum's dex platforms, which have recorded $2.

Solana's Decentralized Exchange Platforms Eclipse Ethereum in Daily Trading Volume, Surpassing $2.8 Billion

A new Solana (SOL)-based memecoin has soared to more than a $620 million market cap shortly after launching and securing listings on multiple crypto exchanges. Slerf (SLERF), a new sloth-themed memecoin, is now trading on at least four crypto exchanges as of Monday.

Solana Memecoin Skyrockets to $620,000,000 Market Cap Hours After Launch Amid Multiple Exchange Listings

Solana (CRYPTO: SOL) is soaring with an 8% single-day gain off the back of continuing interest in Solana-based meme coins.

Solana Chases All-Time Highs With 8% Gain As Whale Deposits $39.85M SOL Into Binance

Solana-based DEXs now hold the market share of decentralized cryptocurrency trading volume in the past 24 hours.

Solana DEXs hold market share of decentralized trading volume

Some called the move a marketing trick, as news of the burn went viral on X.

Solana Meme Slerf Notches $1.7B in Volume After Developer Loses All Presale Funds

While Solana has been rallying, the ecosystem has been reeling from an issue with the SLERF meme coin launch.

Solana Soars Into Top Four Amid SLERF Meme Coin Snafu

Some onchain watchers estimate that over $100 million worth of tokens were sent to various meme coin presales over the weekend.

Lure of Quick Money Sees $100M Flow to Solana Meme Coin 'Presales'

Solana's native token, SOL (CRYPTO: SOL), along with The Book of Meme (CRYPTO: BOME), a meme coin developed on the Solana blockchain, has seen a spike in attention within the crypto community on social media platforms. What Happened: According to social analytics firm Santiment, these tokens have dominated discussions across various networks.

Solana, BOME Buzz On Social Media Despite Price Plunge: What's Going On?

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A trader who nailed Bitcoin's (BTC) price floor during the 2018 bear market believes that one memecoin running on the Solana (SOL) blockchain is primed to rally to a fresh record high.

Top Trader Predicts Rallies to New All-Time High for Solana-Based Memecoin, Says SOL a Standout Amid Correction

A new Solana-based memecoin presale project called Slerf accidentally burnt funds raised from presale investors, worth $10 million.

Solana memecoin Slerf accidentally burns $10 million worth of funds raised from presale investors

Scores of newly issued tokens boast trading volumes of tens of millions, showcasing network usage and demand for blockspace.

SOL Crosses $200 as Meme Coin Frenzy Bumps Demand for Solana Network

Google Trends' weekly tracker showed that the global interest in Solana this week is at a peak popularity of 100.

Solana's search interest surges on Google amid memecoin mania

Increased crowd chatter may be a sign of an impending retail investor frenzy.

SOL, BOME Trend on Social Media as Ether, Bitcoin Lag

The Solana network experienced a surge in activity over the weekend, surpassing Ethereum in total trading volume.

Solana Surpasses Ethereum in User Activity Amidst Surge in Memecoins like ‘Book of Meme'

Parallel Studios, the developer behind the Ethereum NFT card game Parallel, has announced its next crypto game, Colony.

Web3 Game Studio Parallel Launches Survival Simulation Game on Solana, PRIME Reaches All-time Highs

Avalanche

Bitcoin

Memecoins soared past $55 billion in market cap, up 11% as traders doubled down on SHIB, WIF, BONK, and newcomer CORGIAI

Bitcoin Back Above $67K as Memecoins Push up SOL and AVAX

Based on the latest metrics, the cryptocurrency landscape has experienced a widespread but modest downturn. Yet, the digital asset solana has risen by 12.2% in the last 24 hours and 43% against the U.S. dollar over the past week. Currently, solana surpassed the $200 mark per coin as it closed in on BNB's market capitalization.

Despite Broad Crypto Downturn, Solana Hits $200 Range and Overtakes BNB

A newly launched memecoin on Solana (SOL) has achieved a $1.1 billion market cap in less than 48 hours following its listing on Binance, the largest crypto exchange in the world.

New Solana-Based Memecoin Explodes After Binance Launches Perpetual Futures Support

The total amount of transaction fees paid on Solana yesterday amounted to $3.83 million, or 20,350 SOL, according to The Block's data.

Solana's memecoin mania pushes on-chain volumes and fees to new highs

A large surge in memecoin activity has driven decentralized exchange (DEX) volume on Solana (SOL) to record highs, the latest on-chain data shows. According to blockchain analytics platform DefiLlama, Solana's volume reached $3.802 billion on Saturday, a high that eclipses old records set earlier this year.

Explosive Memecoin Surge Sends Solana DEX Volume to Record Highs: On-Chain Data

Ethereum

Bitcoin and crypto prices have surged back this year, thrusting bitcoin back into the limelight and causing Donald Trump to make a surprise crypto flip.

Joe Biden Quietly Planning To ‘Kill' Crypto And Destroy ‘Billions Of Dollars' Of Value After Huge Bitcoin, Ethereum, XRP And Solana Price Surge

Ethereum (ETH) rival Solana (SOL) bucked the wider crypto market downtick amid a new integration with Binance's Web3 Wallet. The fifth-ranked crypto asset by market cap is up more than 5% in the past 24 hours, compared to the overall crypto market cap, which is down 3.8% over the same period, according to CoinGecko.

Solana Bucks Crypto Market Downtick, Jumps in Price Amid New Binance Web3 Wallet Integration

Bitcoin soared above $73,600 per coin before dropping below $69,000. But Solana made gains, with its market cap hitting an all-time high.

This Week in Coins: Bitcoin Hits All-Time High, Then Gets Battered, While Solana Soars

A widely followed cryptocurrency analyst and trader is remaining bullish on one red-hot Ethereum (ETH) competitor. The analyst pseudonymously known as Bluntz tells his 248,700 followers on social media platform X that Solana (SOL) has a lot more upside potential after soaring 10x since September. “SOL vertical accumulation has ended.

Analyst Says ‘Flood Gates Are Open' for Altcoin That's up 10x in Six Months, Updates Outlook on Bitcoin and Sei

Solana's market cap has reached an all-time high of $84.7 billion as its high price meets an even greater supply.

News for Solana Crypto (SOL)