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

Macro guru and Real Vision CEO Raoul Pal says that Solana (SOL) will lead the next market expansion for digital assets. In a new video update, the former Goldman Sachs executive tells his 94,200 YouTube subscribers that the crypto market is approaching the “banana zone,” or a lengthy period of sustained growth.

Solana (SOL) To Lead New Crypto Market Expansion, According to Former Goldman Sachs Executive

Here are all the important stories you may have missed from the past week in the crypto industry.

Weekly recap: Lawsuits fly, Wall Street eyes Solana ETFs, Vitalik goes Mega, and more stories you missed

21Shares has now officially filed paperwork in hopes of launching a Solana (SOL) exchange-traded fund (ETF). The fintech firm submitted a registration statement with the U.S. Securities and Exchange Commission (SEC) on Friday for the “21Shares Core Solana ETF,” which would trade on the Cboe BZX Exchange if approved.

Fintech Firm 21Shares Follows VanEck's Lead and Submits Solana (SOL) ETF Application

Bitcoin

Bitcoin is still struggling, but ETF narratives are building investor enthusiasm around Solana. Also, Blast debuts and BODEN tanks.

This Week In Coins: Bitcoin Price Cools, Solana Soars on ETFs, and BODEN Tanks Amid Debate

Bloomberg's senior ETF analyst has stated that the odds of a Solana exchange-traded fund (ETF) being approved within the next 12 months are closely linked to the likelihood of a change in the U.S. presidency. He noted that it is “safe to say the chances of both are higher today than they were yesterday.

Solana ETF Approval Odds Rise Amid Potential Political Shifts, Analyst Says

21shares has filed a registration statement for a solana exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The ETF will trade on the Cboe BZX Exchange and will utilize Coinbase Custody Trust Company for secure custody of SOL.

21shares Files to Launch Solana ETF With SEC

Digital assets investment management firm 21Shares filed Friday for permission from U.S. regulators to launch an exchange-traded fund tied to the spot price of crypto token Solana.

21Shares files for permission to offer ETF linked to cryptocurrency Solana

Solana recently introduced new functionality to its network, bringing Blinks (blockchain links) to the Web2 space. Now, users and developers can take wallet actions, like making a transaction, a donation, or a vote using a wallet address, wherever a URL can be shared, enhancing the user experience in legacy web applications or even on X.

Solana Introduces Blinks, Brings Blockchain to the Web2 Space

A widely followed crypto analyst and trader says that one top-10 altcoin could be gearing up for a massive rally. Crypto strategist Ali Martinez tells his 65,700 followers on the social media platform X that the native token of layer-1 blockchain Toncoin (TON) could soar more than 19% from its current value.

Crypto Trader Says Top-10 Altcoin Primed for a Double-Digit Rally, Updates Outlook on Bitcoin and Solana

21Shares has announced its application for a Solana (CRYPTO: SOL) spot ETF, following closely on the heels of VanEck's similar filing. What Happened: This development marks another significant step in the ongoing efforts to bring cryptocurrency-based investment products to mainstream financial markets.

21Shares Becomes The Next Fund Filing For A Solana Spot ETF

Investment giant VanEck is seeking approval for a spot Solana (SOL) exchange-traded fund (ETF), according to a new filing with the U.S. Securities and Exchange Commission (SEC). The company submitted an S-1 registration statement to the securities regulator on Thursday related to the SOL ETF, which would be called the VanEck Solana Trust.

Investment Giant VanEck Files for Solana Exchange-Traded Fund, Triggering Modest Price Jump for SOL

21Shares aims to offer its own spot Solana ETF in the United States, following VanEck's own filing on Thursday.

Another Solana ETF Filing Lands in US as 21Shares Follows VanEck's Lead

The price of Solana (SOL) has fallen below the moving average lines and reached a low of $128 on June 23. The downward momentum extended to the current support level of $122.

Solana Recovers But Encounters Resistance At $151

VanEck and 21Shares' applications seem doomed under the Biden administration. But they include a deadline that lapses when Trump would be in office, if he wins the presidency in November.

Solana ETF Applications Look Like Bets on Trump Retaking White House, Making U.S. Friendlier to Crypto

21Shares follows VanEck as the second firm in as many days to seek SEC approval for a spot Solana ETF.

21Shares files S-1 for spot Solana ETF in the US

Solana has outperformed its peers this week, posting gains while bitcoin and ether have declined during the same period.

Solana outperforms major crypto tokens this week due to multiple catalysts: Coinbase

VanEck's head of research wants to be first in line if the SEC approves Solana-based funds.

VanEck's Matt Sigel: Why now is the right time to shoot for a Solana ETF

According to stablecoin transfer volume metrics divided by blockchain, Solana's daily transfer volume has decreased from a range of $75 billion to $100 billion daily to around $7 billion daily. Additionally, a crypto advocate expressed doubts about the legitimacy of Solana's previous stablecoin transfer volumes, indicating that the metrics were highly overstated.

Solana's Stablecoin Transfer Volume Drops Drastically Amid Scrutiny

A new report has forecasted a significant price increase for Solana if a Solana (CRYPTO: SOL) exchange-traded fund (ETF) is approved. The report, by market maker GSR, suggests that under a Trump administration, regulatory changes could pave the way for a Solana ETF, leading to substantial inflows and a corresponding rise in SOL's price.

Here's How Much SOL Could Surge If Solana ETFs Get Approved

The launch of a spot Solana (SOL) exchange-traded fund (ETF) in the United States might depend on a shift in administration and changes in the leadership.

New US President, SEC Could Pave Way for Approval of Spot Solana ETF, Bloomberg ETF Analyst Says

Dogecoin

Ethereum

Leading cryptocurrencies ascended Thursday as the market celebrated the entry of Solana (CRYPTO: SOL) in the now hot spot exchange-traded fund for digital assets in the U.S. Cryptocurrency Gains +/- Price (Recorded 8:30 p.m. EDT) Bitcoin (CRYPTO: BTC) +1.14% $61,490.42 Ethereum (CRYPTO: ETH) +2.26% $3,439.83 Dogecoin (CRYPTO: DOGE) +3.55% $0.1269 What Happened: Market bellwether Bitcoin dramatically spiked to $62,300 after asset manager VanEck filed an S-1 registration form with the SEC for a spot Solana ETF.

Bitcoin, Ethereum, Dogecoin Edge Higher As Market Cheers Solana Spot ETF Filing: Analyst Forecasts King Crypto's Bounce To $66K If This Condition Holds

Cryptocurrency markets are up ahead of the Trump-Biden U.S. Presidential election debate, with a Solana spot ETF application as the main catalyst. Cryptocurrency Price Gains +/- Bitcoin (CRYPTO: BTC) $61,464.37 +1% Ethereum (CRYPTO: ETH) $3,449.60 +2% Solana (CRYPTO: SOL) $148.18 +8.5% Dogecoin (CRYPTO: DOGE) $0.1244 +0.6% Shiba Inu (CRYPTO: SHIB) $0.0000175 +1.5% Notable Statistics: IntoTheBlock data noted a 15.9% increase in large transaction volume.

Bitcoin, Ethereum, Dogecoin Rally, VanEck Files Solana ETF Application, But... 'Don't Get Too Excited Yet,' Warns Trader

Crypto market-maker GSR is bullish on Solana's ETF prospects in the U.S.—particularly if Donald Trump is elected as president in November.

Solana ETFs Could Beat Bitcoin Gains, Be Fast-Tracked in Trump Admin: GSR

dogwifhat

A closely followed crypto trader says that one memecoin that has seen massive gains during the last five months looks ready to surge even higher. In a new strategy session, crypto analyst Altcoin Sherpa tells his 217,600 followers on the social media platform X that meme assets are recovering nicely from the latest market crash.

Trader Says Memecoin That's Exploded Over 3,000% in Five Months Primed To Go Higher, Updates Outlook on Solana

Wormhole will tap Solana-based protocols to verify user's Worldcoin World IDs that were originally verified on Ethereum.

News for Solana Crypto (SOL)