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
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Ethereum

Unlike other Ethereum L2s, “the first true SVM rollup" uses the Solana Virtual Machine to speed transaction settlement times.

SOON, the Ethereum Layer 2 using the Solana Virtual Machine, raised $22 million in an NFT sale ahead of mainnet launch

Dogecoin

Crypto majors showed mixed movement as bitcoin (BTC), ether (ETH) and BNB Chain's bnb gained under 1% in the past 24 hours, while Solana's SOL and XRP surged as much as 7%.

Dogecoin Sinks After Brief D.O.G.E Pump; SOL, HYPE Lead Crypto Rebound

Osprey Funds and Rex Shares have filed with the U.S. Securities and Exchange Commission (SEC) to launch several new cryptocurrency exchange-traded funds (ETFs).

U.S. Asset Managers Submit Filings for TRUMP, DOGE, Solana, and Other Cryptocurrency ETFs

Of the 4.5 million daily active users on Solana, 1.5 million were unique tippers, showcasing interest in token sniping on platforms like Meteora and Orca.

Solana Validators Made Over $25M in Fees on TRUMP, MELANIA Memecoins

The block trade was a bull call spread that would see maximum profit on a potential move to $400 or higher by the end of February, according to data tracked by Amberdata.

Solana Bull Bets Big on SOL Rallying to $400

The official TRUMP token on Solana is up nearly 9% on the day, hitting its highest price in more than 24 hours.

Official Trump Solana Meme Coin Back on the Rise With Coinbase Listing

Jupiter's JUP token fell as the Solana decentralized exchange prepares to open claims for its latest airdrop for users.

Jupiter Set to Drop $630 Million Worth of JUP in Solana Airdrop Claim

Bonk

Osprey Funds and Rex Shares are looking for the SEC's sign off for several proposals for exchange-traded funds based off of TRUMP and DOGE.

Osprey, Rex file to list ETFs tracking President Trump's memecoin, XRP, BONK and other tokens

Coinbase CEO Brian Armstrong said the crypto exchange is working hard to scale up amid a surge in activity on Solana.

Coinbase promises infrastructure improvements to expedite Solana deposits and withdrawals

The recent explosion in adoption on Solana seems to have awakened Ethereum developers, who are now calling for a hastening of the ecosystem's innovation processes. Dankrad Feist, a researcher at the Ethereum Foundation, recognized that the current upgrade roadmap was “too unambitious.

Solana's Adoption Wakes Ethereum Developers From Slumber: Current Plans ‘Too Unambitious'

Bitcoin

An analyst known for making timely crypto calls is sounding the alarm about the possibility that the asset class may be hovering close to a bull market peak.

Trader Warns Crypto Flashing Top Signals ‘Everywhere,' Sees Potential Bull Run Peak for Bitcoin and Solana

Coinbase users have experienced significant delays with Solana transactions following the launch of memecoins by former President Donald Trump and his wife Melania.

Coinbase Users Face Delays of Up to 15 Hours in Solana Transactions Following Trump Memecoin Launch

Rivalry has added support for the TRUMP Solana meme coin, with bettors earning extra NUTZ rewards towards the upcoming RVLRY token airdrop.

Betting Platform Rivalry First to Support Trump Solana Meme Coin

As markets mulled Melania Trump's meme coin, Solana-based applications like Jupiter and Phantom experienced degraded performance.

Trump Meme Coin Creates Hurdles in the Trenches for Solana Traders

Analysts at Bernstein acknowledged the wackiness of the TRUMP token launch, but said that it signals a new era for crypto regulation.

Trump's Solana Meme Coin Launch Marks 'New Crypto Regulatory Era': Bernstein

Donald Trump did not mention crypto during his inauguration speech, leaving crypto traders' heightened expectations somewhat unfulfilled.

Solana, Trump Memecoins Tumble as Inauguration Day Brings $700M in Crypto Liquidations

It appears Cuba's Ministry of Foreign Affairs promoted a memecoin early Monday before the account was later disabled.

Cuban X account appears inactive after Solana memecoin rug pull allegations

Donald and Melania Trump's respective tokens have stolen the spotlight from Dogecoin and other long-running meme coins.

Dogecoin Down 15% Since Trump's Solana Coin Dropped as Meme Momentum Shifts

Chainlink (LINK) joined Solana (SOL) as a top performer, gaining 4.3%.

CoinDesk 20 Performance Update: SOL Surges 16% as Index Inches Higher From Friday

The fee surge was triggered by heavy user engagement in on-chain transactions amid the launch of the TRUMP and MELANIA memecoins.

Solana's daily fees hit record high of $33 million as Trump family memecoins boost network volume

Daniel Prince, host of the Once Bitten podcast, has recently alleged that conflicts of interest and nepotism were part of the motivation for choosing Solana as the chain for launching TRUMP, the official meme token of the U.S. president.

Launch of Trump Solana Meme Token Marred by Conflicts of Interest and Nepotism Allegations

Google search trends for “buy crypto” and “buy Solana” have soared following the launch of the Official Trump (TRUMP) memecoin.

Trump Memecoin Sparks 100% Surge in 'Buy Crypto' and 'Buy Solana' Search Volumes

The Solana (CRYPTO: SOL) blockchain experienced significant network congestion on Monday as enthusiasm around President-elect Donald Trump-themed meme tokens triggered unprecedented transaction volumes, leading to technical difficulties for key infrastructure provider Jito Labs. What Happened: Jito Labs reported “severe degradation” of its Block Engine API due to “unprecedented load levels,” though the company later confirmed service stability had improved following emergency mitigation efforts.

Solana Blockchain Faces Network Congestion As Trump And Melania Meme Tokens Surge: What You Need To Know

Such fees are remarkably high for a low-cost blockchain, when transactions typically take fractions of a cent to settle.

Solana Bags Record Daily Fees of $35M Amid Trump Memecoin Frenzy

The launch of Donald Trump's official memecoin on Solana has not only boosted the cryptocurrency's price and trading volume, but also perceived odds of a SOL ETF.

News for Solana Crypto (SOL)