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

A crypto trader, operating under the wallet name "sundayfunday.sol," achieved an incredible 993x gain on their purchase of 13 Solana (SOL) worth of a newly-launched memecoin called 1DOL.

Crypto Trader Turns $2.2K of SOL to $2.26M Within Eight Hours on Memecoin Trade

Avalanche

Ethereum

The two top cryptocurrencies are leading a parade of rising coins today.

Solana, Avalanche Soar as Ethereum Price Tops $3,500

Bitcoin

Inflows into the spot bitcoin ETFs restarted in a big way last week as the price rallied from near the $60K level.

Bitcoin Breaks Out Above $68K as SOL's 7% Gain Leads Crypto Rally

After admitting to being responsible for an exploit which drained $2 million from Pump.fun, the attacker claims to have been arrested.

Hacker Who Exploited Solana Meme Coin Factory Pump.fun Says He Faces Theft, Conspiracy Charges

Bonk

Meme coins are back in the spotlight again, and Bonk (BONK) is leading the charge. The Solana-based token has rallied 20% in the past week and is now trading around the $0.0000257 level. Alongside BONK, presale project Sealana (SEAL) is also seeing growth – nearing the $2 million milestone in its much-discussed presale phase.

Bonk Up 20% in a Week as New Solana Meme Coin SEAL Nears $2M

A popular crypto analyst says that it's likely Ethereum's (ETH) time to shine and that its biggest rival is in for a parabolic run. Pseudonymous trader Inmortal tells his 213,900 followers on the social media platform X that Ethereum will rally and leave many traders on the sidelines.

Crypto Analyst Predicts Ethereum Season, Says Solana Following in Footsteps of ETH's 2021 Market Cycle

Phantom Wallet, a popular cryptocurrency wallet, has recently climbed to the third position in the utility category on the Apple App Store.

Solana Wallet Phantom Surges to Third Place on Apple App Store's Utility Category

Meme coins like EPIK are looking more and more like crypto's future. Is that good or bad?

Epik Duck: From Joke to $25 Million Solana Meme Coin

In his latest social media posts, Daniel Cheung, co-founder of Syncracy Capital, expressed confidence in the strength of solana (SOL) and its potential to reclaim the $200 mark. He also hinted that upcoming upgrades could pave the way for new all-time highs (ATHs).

Analyst: Solana to Reclaim $200, Many New Crypto ATHs Soon

Smart contract platform Solana (SOL) is moving to the top of CoinGecko's list of fastest blockchains. In a new publication, CoinGecko says Solana is a staggering 46 times faster than its rival Ethereum (ETH), the second-largest digital asset by market cap, making it the fastest large blockchain on the market.

‘46 Times Faster Than Ethereum' – Solana Races to the Top of CoinGecko's List of Swiftest Blockchains

A closely followed crypto strategist believes one Top-50 artificial intelligence (AI)-related altcoin is preparing to witness big rallies in the coming months. Pseudonymous analyst Altcoin Sherpa tells his 215,400 followers on the social media platform X that Render (RNDR), a project related to Graphics Processing Units (GPUs), will likely hold a range low as support.

Top-50 Solana-Based Altcoin Primed for a ‘Much Higher' Price, According to Crypto Trader – Here's the Timeline

Dogecoin

A widely followed analyst and trader is expressing bullish sentiment on a leading memecoin while updating his outlook on three other crypto assets. The analyst pseudonymously known as Kaleo tells his 638,400 followers on the social media platform X that Dogecoin (DOGE) is “about to rip”.

Crypto Trader Says One Large-Cap Memecoin Is ‘About To Rip,' Updates Outlook on Bitcoin and Solana

The fifth-largest cryptocurrency is benefitting from multiple catalysts, including bustling meme coin and DeFi activity, upcoming network upgrade and increasing interest in restaking arriving to the ecosystem.

Solana's SOL Could Hit $200 By Month End, Hedge Fund Founder Says

The CoinDesk 20 Index is higher by more than 4% over the past 24 hours as crypto's big rally this week continues.

Bitcoin Rises Above $67K, but Lags Broader Crypto Market as ETH, SOL, LINK Post Big Gains

Both GameStop shares and the unofficial GME meme coin on Solana have seen similar plunges from their high prices this week.

GameStop Meme Coin on Solana Down 69% as GME Frenzy Fades

Popular Solana (CRYPTO: SOL) based meme coin platform Pump.Fun faced a scare on Thursday after a former employee exploited a vulnerability to manipulate the platform's system. What Happened: The incident, which saw the perpetrator siphon off roughly $1.9 million worth of SOL tokens, sent shockwaves through the platform's user base.

Solana Meme Coin Platform Pump.Fun Exploited For $1.9M, Vows To Repay Users

Pump.fun, a leading Solana-based marketplace and deployment tool for meme coins, issued a postmortem on the exploit that occurred on May 16. The team stated that a former employee took advantage of its position to misappropriate 12.3K SOL, worth $1.9 million. An X user nicknamed Staccoverflow, confirmed to be part of pump.

Solana Meme Coin Marketplace Pump.fun Issues $1.9 Million Exploit Postmortem, Discloses Former Employee Involvement

Pump.fun, a platform built on the Solana blockchain for streamlined token launches, has fallen victim to an apparent exploit resulting in significant losses.

Popular Solana Memecoin Launcher Pump.fun Suffers $2M Flash Loan Exploit

Pump.fun, a Solana-based marketplace and deployment tool for meme coins, has acknowledged suffering an exploit dealing with the bonding curve contracts in its platform.

Solana Meme Coin Marketplace Pump.fun Suffers $80 Million Exploit

A purported former Pump.fun employee drained an estimated $2 million worth of Solana on Thursday. Here's why he did it.

Pump.fun Attacker Says He Wanted to 'Kill' Solana Meme Coin Launcher

The exploiter may not be making any money from the attack.

Solana Meme Coin Factory Pump.Fun Compromised by 'Bonding Curve' Exploit

A closely followed crypto analyst predicts one Ethereum (ETH) competitor is about to have a massive breakout against Bitcoin (BTC). Pseudonymous trader Kaleo tells his 638,000 followers on the social media platform X that the smart contract platform Avalanche (AVAX) could soar against BTC by more than 84% from its current value.

Crypto Analyst Says Ethereum Competitor To Rip Higher, Predicts Outlook on Dogecoin and One More ETH Rival

The GameStop tribute coin GME and other Solana and Ethereum meme coins are sliding Thursday as the meme stock craze loses steam.

Solana, Ethereum Meme Coins Dip as GameStop Buzz Cools

The exploiter seems to be using flash loans to get enough SOL to buy out Pump.fun memecoin bonding curves.

Solana token launcher Pump.fun suffers flash loan exploit

Coinbase has added a new Solana (SOL)-based decentralized exchange (DEX) altcoin to its listing roadmap. On Tuesday, the top US crypto exchange put Drift Protocol (DRIFT) on the path towards being tradeable on its platform in the future. Drift is an open-source DEX that enables transparent and non-custodial trading.

News for Solana Crypto (SOL)