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 Labs announced the launch of Bond, a platform that uses blockchain and cryptocurrency structures to establish links between brands and their customers. Bond will offer different features, including digital collectives, authentication of luxury goods, and digital passports for products, all built on top of the Solana blockchain for low costs and scalability purposes.

Solana Labs Launches Bond, a Blockchain Digital Customer Engagement Platform

Payments can be made in Solana or BONK, for example, and buyers can access NFT airdrops and token-gated features.

Shopify Now Supports Hundreds of Crypto Tokens Through Solana Pay via Helio

A recent change implemented by Elon Musk on X (formerly Twitter) making user “likes” private, has ignited controversy within the cryptocurrency community, with industry stalwarts opposing the move. What Happened: Mert Mumtaz, co-founder and CEO of Helius expressed his strong disapproval, saying “This is the dumbest change ever.

Elon Musk's Decision To Hide Likes On X: 'Catastrophic For Crypto,' Says Solana VC

A popular crypto analyst and trader says that one Ethereum (ETH) rival is facing a decisive moment. Pseudonymous crypto strategist Credible Crypto tells his 396,500 followers on the social media platform X that if Solana (SOL) fails to hold $140 as support it could plummet.

Analyst Says Top Ethereum Rival at ‘Make It or Break It' Level, Updates Outlook on Bitcoin and Dogecoin

Stablecoin issuer Circle announced the expansion of its Web3 service to Solana (CRYPTO: SOL), providing developers on the blockchain with enhanced features needed to launch decentralized apps. What Happened: According to a blog post on Wednesday, the company behind the second-largest stablecoin, USD Coin (CRYPTO: USDC), announced the launch of Programmable Wallets and Gas Stations on Solana.

Stablecoin Issuer Circle Expands Web3 Services To Solana, Launches Programmable Wallets And Gas Stations

Circle, the digital asset firm and issuer of USDC, is extending its Web3 services to the Solana blockchain, introducing features such as programmable wallets and gas stations.

Circle Expands Web3 Services to Solana Blockchain, Introducing Programmable Wallets and Gas Stations

Financial analyst and investor Keith Gill earned a lasting reputation by posting his analysis of GameStop (GME:NYSE) stock on the subreddit r/wallstreetbets under the username DeepFuckingValue (DFV) and as RoaringKitty on X and YouTube. Gill chronicled his gains and helped inspire the members of the now-famous subreddit to help spark a frenzy of activity around the formerly struggling stock.

Meme Coin GME On Solana Skyrockets Following Keith Gill's Return To Social Media: Interview

A Solana token that Andrew Tate is shilling has skyrocketed as crypto analytics firm Bubblemaps alleges insider trading activity ahead of the spike.

Andrew Tate-Backed Solana Token DADDY Up 450% Amid Insider Buying Claims

A Solana (SOL)-based altcoin project with an artificial intelligence (AI) focus is soaring after gaining support from Binance, the world's largest crypto exchange. In a new announcement, Binance says it's listing decentralized AI computing network io.net (IO) for trading on its platform. “Binance is excited to announce that io.

Solana-Based AI Altcoin Explodes After Earning Support From Crypto Exchange Binance

Rob Marrocco, the Vice President and Global Head of ETF Listings at Cboe (BATS:CBOE), on Wednesday highlighting the challenges of crypto ETFs beyond Bitcoin and Ethereum. What Happened: Marrocco expressed skepticism regarding the near-term feasibility of ETFs based on cryptocurrencies like Solana (CRYPTO: SOL) and Ripple (CRYPTO: XRP), citing the absence of a futures market for these assets as a significant hurdle.

Solana, Ripple ETFs Unlikely In Near Future, Says Cboe VP

Ethereum

Crypto analyst Stockmoney Lizards highlighted five critical trends in the current altcoin cycle, offering insights into how investors can navigate an increasingly crowded market. What Happened: The analyst acknowledges the overwhelming number of altcoins flooding the market, adding that the influx of new coins and scams makes it difficult for every coin to achieve significant price pumps, unlike in past cycles.

Five Critical Ethereum, Solana Altcoin Trends To Know

Solana (SOL) recently hit a four-week low, testing the $145 support level on June 11.

Solana Price Hits Four-Week Low Amid Macroeconomic Uncertainty

Hunter Biden was found guilty on three felony gun charges Tuesday—and Solana meme coins inspired by the Bidens pumped afterwards.

BODEN Solana Meme Coins Soar on Hunter Biden Guilty Verdict

Controversial influencer Andrew Tate has stirred up social media with his announcement of a $1 million investment in Solana meme coins, despite facing serious criminal charges. Tate, known for his provocative online presence, announced on Friday his plans to invest heavily in various Solana-based meme coins.

Andrew Tate's $1M Solana Meme Coin Investment Causes Stir Amidst Facing Criminal Charges

"It unlocks the rest of the world for easy onboarding," said CEO Ian Krotinsky.

TipLink Aims for Crypto Newcomers With Google-Powered Solana Wallet

According to statistics, 115,773 tokens were issued on the Solana blockchain, and 30-day metrics show that more than half a million tokens, specifically 549,386, were minted. Solana Blockchain Mints Over Half a Million Tokens in 30 Days Solana has recently been a major source of new tokens, surpassing every other blockchain in monthly token issuance.

Meme Coin Craze Drives Solana's Token Issuance to New Heights

Solana has recommended validators in the network upgrade to the latest Mainnet Beta 1.18.15, which includes several fixes to address network performance and stability. The release includes a central scheduler functionality that can be turned on optionally, focused on solving performance issues identified when there is network congestion.

Solana Launches Mainnet Beta v1.18.15 Upgrade to Address Network Stability

Over 30 validator operators were kicked off the Solana Foundation Delegation Program over the weekend, a source familiar with the matter said. While they remain validators on the network, they're no longer eligible to receive what amounted to payout boosters for validating transactions on the Solana blockchain.

Solana Heavyweights Wage War Against Private Mempool Operators

Solana-based multisig protocol Squads raised $10 million in Series A funding and launched its retail wallet app Fuse on public TestFlight.

Solana-based multisig protocol Squads raises $10 million, launches retail wallet app Fuse

The price of Solana (SOL) has fallen below the moving average lines but has made a stop at the 50-day SMA.

Solana Rises But Faces An Early Obstacle At $162

Several operators were removed from the Solana Foundation's delegation program over malicious MEV activity.

Solana Foundation removes certain operators from delegation program over malicious sandwich attacks

Australian rapper Iggy Azalea, co-founder of a telecommunication company, has announced the relaunch of the company with a unique twist. In a recent social media post, Azalea revealed that customers will now be able to purchase phones and month-to-month cell plans using $MOTHER or Sol.

Rapper Iggy Azalea to Sell Phones and Cell Plans for MOTHER Token or Sol

Solana-based decentralized infrastructure provider io.net has announced a significant leadership change just two days before the launch of its highly anticipated token.

Solana-Based Io.net CEO Steps Down Days Before Token Launch

Bitcoin

Cryptocurrency analyst and trader Michaël van de Poppe believes that one Solana (SOL) challenger may be gearing up to witness a bullish reversal. Van de Poppe tells his 719,300 followers on the social media platform X that a “new round of upwards momentum seems inevitable” for Sei (SEI).

Analyst Michaël van de Poppe Says One Solana Rival's Upward Momentum ‘Inevitable,' Updates Outlook on Bitcoin

Binance is adding the token of a Solana (SOL)-powered decentralized artificial intelligence (AI) computing network to the roster of supported crypto assets on its Launchpool platform. In a statement, the world's largest crypto exchange says that io.

News for Solana Crypto (SOL)