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

On May 26, the trader known as GCR was allegedly hacked, possibly by the team behind the Solana-based meme coin CAT, as suggested by onchain sleuth Zachxbt.

GCR's Hack Possibly Tied to Solana's CAT Coin Team, Onchain Sleuth Zachxbt Reports

After Caitlyn Jenner's Twitter account posted a Pump.fun link, someone has claimed to have deployed the token.

Meet the Crypto Promoter Who Says He Launched Caitlyn Jenner's Solana Meme Coin

SEAMM.io, the first fully phygital (physical + digital) fashion marketplace, is revolutionizing the fashion industry with the announcement of the Fashion Digital Product Passport (DPP) on the Solana blockchain at the Fashion Stage of NFC Lisbon.

Seamm Introduces Fashion Digital Product Passport (DPP) on Solana Blockchain

JPMorgan doesn't foresee the SEC approving additional crypto ETFs following spot Ethereum ETFs, Nikolaos Panigirtzoglou told The Block.

JPMorgan casts doubt on SEC approval for Solana and other crypto ETFs

A closely followed crypto strategist who's been bullish on Solana (SOL) for the past year is suddenly flipping bearish on the Ethereum (ETH) rival. In a new video, pseudonymous analyst Bluntz tells his 259,600 followers on the social media platform X that Solana appears to have completed a five-wave rally.

Top Analyst Predicts Over 50% Decline for Solana, Says There's Really High Chance SOL Printed Macro Lower High

Aptos (APT), the layer-1 blockchain platform developed by former Meta employees, surpassed Solana by recording an astounding 115.4 million transactions on May 25.

Aptos Blockchain Sets New Daily User Transaction Record, Surpassing Solana

Standard Chartered, one of the leading global banks, has predicted that Solana and XRP will soon receive their own exchange-traded funds (ETFs) for digital assets.

Standard Chartered: Solana, XRP ETFs Could Be Next

After an extensive auction process, the estate of the bankrupt crypto exchange FTX has finalized the sale of $2.6 billion worth of Solana (CRYPTO: SOL) tokens at significant discounts. What Happened: Figure Markets and Pantera Capital were among the latest buyers, Bloomberg reported.

SOL Down 3% As FTX Bankruptcy Estate Concludes Solana Token Sales

Bitcoin

Ethereum

British bank Standard Chartered says that following the U.S. approval of spot Bitcoin and Ethereum ETFs, Solana and XRP are likely next up.

Solana, XRP ETFs Next After Ethereum, Bitcoin Approvals: Standard Chartered

Standard Chartered believes Solana {{SOL}} or Ripple's XRP could be the next contenders, but not until 2025.

SOL, XPR Could Be Possible Candidates for ETFs, Standard Chartered Says

A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on one memecoin built on the Solana (SOL) blockchain while revealing his forecast for Ethereum (ETH) going forward.

Top Analyst Says Solana-Based Memecoin Primed To Surge Higher Again, Updates Outlook on Ethereum

Following the recent approval of ether spot ETFs, Standard Chartered analyst Geoffrey Kendrick is now looking at what might be next.

Standard Chartered analyst says other crypto ETFs such as SOL, XRP ‘is likely a 2025 story'

Brian Kelly, founder and CEO of BKCM, a digital currency investment firm, stated that while he is still unsure about the imminent approval of a spot ether EFT, he trusts that it will be approved “at some point in time.

Brian Kelly: Solana Might Get the Next Spot ETF

The founder and CEO of an investment firm specializing in digital currencies is looking down the line for the next crypto exchange-traded fund (ETF). In a new CNBC interview, BKCM LLC head Brian Kelly reacts to speculation that the U.S.

This Crypto Asset Could Be the Spot ETF Candidate After Bitcoin and Ethereum, According to Investor Brian Kelly

Pseudonymous cryptocurrency trader Wazz Crypto discussed the significant challenges Solana (CRYPTO: SOL) will face in outperforming Ethereum (CRYPTO: ETH) moving forward, touching on critical metrics and market dynamics. What Happened: Wazz presents a compelling argument suggesting that "it will be much harder for SOL to keep outperforming ETH from here.

Why Solana Could Find It 'Much Harder' To Outperform Ethereum After An ETF Approval

Memecoin hype received another boost last week, though the total amount of fees being paid on Solana is still lower than in March.

Solana's newfound dominance on display amid Roaring Kitty, pump.fun surge

The price of Solana (SOL) has resumed its upward trend after rising above the moving average lines.

Solana Continues Its Upward Trend, But Fails At The $190 Barrier

Dogecoin

As the financial markets eagerly anticipate the approval of the Ethereum (CRYPTO: ETH) Exchange-Traded Fund (ETF), discussions are already swirling about which cryptocurrency might be next in line for ETF consideration. Industry experts suggest a varied and cautious outlook on the future of crypto ETFs, particularly those beyond Bitcoin (CRYPTO: BTC) and Ethereum.

Will Solana Or Dogecoin Be The Next Crypto ETF If The Ethereum ETF Is Approved?

Ether spot ETF approval would set a precedent as the first non-bitcoin digital asset to be considered a commodity, raising expectations that solana could follow the same path, the report said.

Ether Spot ETF Approval Would Raise Expectations Solana Could Also Be Classified as a Commodity: Bernstein

A Solana meme coin dev had fireworks shot at him while doused in alcohol on livestream as an attempt to pump his token.

Solana Dev Hospitalized With Third Degree Burns Trying to Pump Meme Coin

In 2024, Solana saw a significant increase in users, largely due to the launch of several popular memecoins on the platform. These memecoins have helped Solaan recover from the FTX downfall, as the defunct trading platform was one of the largest holders of Solana tokens.

Solana Co-founder Brings Attention To Trump-Themed Memecoin After Breaking $100 Million Market Cap

SOL is often cited as a contender to replace ETH eventually. This week's market action shows how Herculean the task would be.

Ether Market Cap Adds Close to an Entire Solana Blockchain in a Single Day

Solana prices have been on a tear lately, rallying over 30% in under seven days as the broader cryptocurrency market pushes higher.

What Caused Solana Prices To Rally Over 30% In The Last Week?

Solana wallet Phantom has acquired the Bitski wallet platform for an undisclosed sum and plans to bring "embedded wallets" to Solana.

Solana wallet Phantom acquires a16z-backed Bitski wallet platform

The financial terms of the deal were not disclosed.

News for Solana Crypto (SOL)