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

Cryptocurrency price analysis brought by Coinidol.com. Solana (SOL) is trading sideways below the $20.50 level.

Solana Holds Above $19 And Reaches The Overbought Area

Former Goldman Sachs executive macro guru Raoul Pal, on Wednesday, shared his optimistic outlook for the cryptocurrency market, referring to the current phase as “crypto spring” and anticipating an upcoming “macro spring.” "We are in ‘crypto spring' right now, about to enter macro spring," he said.

Crypto Market Analysis: Macro Guru Raoul Pal Forecasts Long Recession: 'Solana Will Massively Outperform Bitcoin'

Ethereum

Eclipse, an organization that allows for the construction of customizable rollups, has announced the architecture of its Eclipse mainnet, a Solana-powered Ethereum layer two (L2) scaling rollup. The rollup will benefit from using the Solana Virtual Machine as an execution layer, leveraging this blockchain's various security and performance benefits.

Eclipse Announces Solana-Powered Ethereum Rollup

According to statistics, Coinbase's Layer two (L2) blockchain, built on Ethereum and using Optimism's open-source OP Stack, has grown significantly in the past 41 days. Since August, when the platform had a total value locked (TVL) of $175 million, the figure has increased 111% to $370 million.

Coinbase's L2 Blockchain Base Skyrockets 111% in 41 Days, Overtaking Solana in TVL

Number of daily active addresses on Solana hit a low point, but supporters of the network say that shouldn't be a reason for much concern.

Solana's decline in active addresses is only part of the story

Eclipse has announced the mainnet launch of its new general-purpose layer 2 scaling solution powered by the Solana Virtual Machine (SVM).

Eclipse Launches Ethereum Layer-2 Running on the Solana Virtual Machine

Cryptocurrency price analysis brought by Coinidol.com. The price of Solana (SOL) is in a bearish trend zone, but correcting upwards.

Solana Is On The Move And Is Aiming For The $22 Mark

Former Goldman Sachs executive Raoul Pal says that Solana (SOL) is one of his top altcoin picks and is potentially the most promising project outside of Ethereum (ETH).

Ex-Goldman Sachs Executive Lays Out Bull Case for Ethereum Rival Solana, Says SOL Best Story Outside of ETH

Cardano

Bitcoin

Digital assets manager CoinShares reports that Cardano (ADA), Solana (SOL) and XRP products are bucking the trend of an otherwise pessimistic institutional investment climate. In its latest Digital Asset Fund Flows Weekly Report, CoinShares says investors are currently less optimistic as reflected in outflows over eight of the last nine weeks totaling over $450 million.

Cardano, Solana and XRP See Institutional Inflows While Bitcoin and Ethereum Investments Slide: CoinShares

Pseudonymous crypto analyst Altcoin Sherpa expressed concerns over Solana's (CRYPTO: SOL) current upward trajectory. In a series of tweets, the trader warned of a potential sell-off, suggesting that the cryptocurrency might take some time to establish a solid bottom.

Solana's Upward Trajectory Could Be Short-Lived, Analyst Warns: 'Slowly Scale In'

Bitcoin Cash

Solana neared the $20.00 level on Monday, as bullish sentiment returned to cryptocurrency markets to start the week. The rise in momentum comes as focus shifts to the upcoming Federal Open Market Committee (FOMC) meeting. Bitcoin cash was another notable gainer today. Solana (SOL) Solana bulls pushed the token towards the $20.

Biggest Movers: SOL Nears $20, BCH 5% Higher on Monday

Digital asset investment products saw outflows of $54 million last week, adding to a near $0.5 billion in nine-week aggregate outflows.

Crypto funds hit half-billion dollar outflow streak as Solana, Cardano and XRP buck trend

A closely followed crypto strategist believes that Solana (SOL) is still in a downtrend despite last week's surge. Pseudonymous analyst Altcoin Sherpa tells his 196,300 followers on the social media platform X that Solana is facing a key resistance level at around $19.50.

Crypto Trader Warns of Solana Sell-Off, Says SOL Bottom Should Take a While To Form

XRP extended a recent bull run on Friday, as the token moved to its highest point in the past two weeks. Today's move came as the cryptocurrency marginally broke past a key resistance level. Solana was also in the green, as price rose for a fourth straight day, nearing the $20.00 mark in the process.

Biggest Movers: XRP Surges to 2-Week High, SOL Maintains Recent Momentum

A top crypto trader says that he is reaccumulating one Solana (SOL) ecosystem crypto and another under-the-radar altcoin.

Top Trader Says He's Reaccumulating One Solana-Based Altcoin That's Up Over 500% in Three Months – Here's Why

Tron was a big mover on Thursday, as recent reports suggest that the blockchain platform has been processing an average of 4.8 million daily transactions. The token has now surged higher for three consecutive sessions, and looks set to collide with a key resistance level. Solana was also in the green today.

Biggest Movers: TRX Rises to Strongest Point Since July, SOL Extends Gains

BTC rose 1.5% to trade over $26,100 in European morning hours on Thursday, while Ether neared $1,700 before falling to $1,650.

XRP, SOL Lead Slight Crypto Majors' Recovery After FTX Sell-Off Fears

Credit card giant Visa says that one Ethereum (ETH) competitor has unique technological advantages over other blockchains as a payments platform.

Visa Says This Ethereum Rival Has ‘Unique Technological Advantages' Over Other Chains

Crypto exchange FTX got court approval to sell part of its $3.4 billion digital asset holdings.

Bitcoin Steady at $26K, SOL Slightly Dips After FTX Gets Approval to Sell Crypto

The collapsed exchange's new management now can sell billions of dollars in Solana, Bitcoin and other assets.

FTX Gets Court Approval to Sell Billions in Bitcoin, Ethereum and Solana

Crypto exchange FTX can sell and invest its crypto holdings to pay back creditors, a judge in the U.S. Bankruptcy Court for the District of Delaware ruled Wednesday.

Judge Allows Bankrupt FTX to Sell Its Crypto Holdings, Including BTC and SOL

Dogecoin

As Coinbase﻿﻿ chief executive Brian Armstrong reveals the platform will integrate bitcoin's payment-focused lightning network, Mizuho analysts have warned an "unprecedented" decoupling could be about to cause crypto price chaos

Coinbase CEO Reveals ‘Important' Bitcoin Update As ‘Unprecedented' Price Warning Hits Ethereum, BNB, XRP, Cardano, Dogecoin, Solana, Tron And Toncoin

A closely followed crypto trader says that the Ethereum (ETH) rival Solana (SOL) has the potential to generate exponential gains for long-term investors. Pseudonymous trader Altcoin Sherpa tells his 196,200 followers on the social media platform X that Solana is a fundamentally sound crypto project that could perform well in the next bull market.

Solana a Solid Bet for Next Bull Run With Potential for Great Multiples, Says Analyst – But There's a Big Catch

Cosmos

The most popular crypto wallet is introducing support for some of the largest blockchain networks in the world with the launch of a new feature. MetaMask announces on the social media platform X the launch of the open beta for “Snaps,” which aims to make the MetaMask ecosystem more permissionless.

MetaMask Introduces Support for Bitcoin, Solana and Cosmos Network With New ‘Snaps' Feature

After years of incompatibility, a new bridge allows Solana portfolios to be managed directly from the popular Web3 wallet.

News for Solana Crypto (SOL)