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

Jito Network became the top DeFi protocol on Solana, with liquid staking pool token JitoSOL rising by 8.5%.

Jito Price Jumps After Topping Solana DeFi Protocols With $1 Billion Locked

Bitcoin

Cryptocurrency markets on Thursday clawed back some of their losses earlier in the week, with Bitcoin open interest sinking to its lowest levels in two months. What Happened: Major cryptocurrencies are up moderately at the time of writing: Prices as of 4 p.m.

Bitcoin Battles To 'Reclaim Some Levels,' Solana, Meme Coins Leading The Rebound: The Thursday Play-By-Play

Ethereum

Bitcoin is rising after a rough week, but meme coins like Pepe, Bonk, Dogwifhat, and Dogecoin are the biggest winners today.

Ethereum and Solana Meme Coin Prices Surge Amid Modest Bitcoin Gains

Jito now has 10 million SOL ($1.4 billion) in total value locked — accounting for some 38% of Solana's overall TVL.

Jito becomes largest protocol on Solana with $1.4 billion in TVL

Dogecoin

Leverage traders are seeing red after Bitcoin (BTC) suddenly plummeted below $58,000, dragging altcoins down with it. According to crypto data aggregator Coinglass, over $448,490,000 in liquidations have occurred in the last 24 hours – more than 84% from leveraged longs. Leading exchange OKX hosted the largest amount of liquidations at $171.

Over $448,000,000 in Bitcoin, Ethereum, Solana, Dogecoin and Other Coins Liquidated As BTC Crashes Below $58,000

Cosmos

Solana (SOL) co-founder Raj Gokal is naming two blockchains that have a head start in the sovereign blockchains crypto sub-sector. At a TOKEN2049 panel discussion, Gokal says that Avalanche (AVAX) and Cosmos Hub (ATOM) are “the clear winners” with regard to sovereign blockchains.

Solana Co-Founder Says Cosmos and One SOL Rival Are Clear Winners in Building Sovereign Blockchains

Sales of non-fungible tokens (NFTs) experienced a 31.26% decline in April from the revenues recorded in March. Last month, statistics show that NFT transactions across several markets totaled approximately $1.15 billion in sales.

NFT Sales Dip Over 31% in April; Ethereum, Solana Experience Sharp Declines

Baxus, an alcohol beverage trading platform that authenticates ownership and transactions with blockchain, announced it has raised $5 million in a seed round led by Multicoin Capital. Solana Ventures, FJ Labs and Narwhal Ventures also participated, the firm said.

Blockchain booze trading platform Baxus raises $5 million from Multicoin, Solana Ventures

Restaking has taken hold of the Ethereum ecosystem. With Jito and a handful of other companies building for Solana, can the trend spread?

Restaking 'Gold Rush' Spreads to Solana From Ethereum, With Jito and Others Joining In

Avalanche

A closely followed crypto strategist is predicting one Ethereum (ETH) competitor could go on a massive rally following a market correction. Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that Solana (SOL) may retest $120 before a parabolic rally to more than $500 later this year.

Trader Predicts Massive Rallies for Solana This Year, Updates Outlook on One More Ethereum Rival

Cryptocurrency markets continue to bleed, with the FOMC meeting and poor ETF performances in the U.S. and Hong Kong weighing heavy on the markets. What Happened: Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL) and Dogecoin (CRYPTO: DOGE) started May with heavy losses.

Bitcoin Plummets Below $58K, ETH, SOL, DOGE Follow: Over $400M Liquidated In 'Deepest Retrace In The Cycle'

The FTX estate is completing the sale of another batch of locked SOL through an auction that saw higher prices than the first sale.

FTX estate wraps up second tranche of locked Solana sales with bids around $100

Prominent cryptocurrency trader Michael van de Poppe in a recent podcast shared his insights on the upcoming altcoin season and the importance of understanding market rotations to maximize returns. What Happened: Van de Poppe believes that by identifying opportunities in altcoins and strategically rotating profits back into Bitcoin (CRYPTO: BTC), investors can outperform the market and maintain their purchasing power in the face of inflation.

Crypto Trader Michael Van De Poppe Highlights Runs In Solana, Meme Coins, Predicts 'There Is Always An Altcoin Season'

Users on X had raised questions about the number of GPUs available on Io.net's platform, leading the protocol's executives to respond.

Solana-based DePIN io.net CEO claims network was attacked in detailed postmortem

Anza, a dev collective behind Solana, recommended the adoption of Agave v1.18.12 into the blockchain's devnet and testnet. This new version of the mentioned client ships with a central scheduler that aims to reduce congestion by increasing fee collection and reducing conflicting transactions. Anza is calling for increased testing on this functionality.

Solana Advances Congestion-Alleviating Central Scheduler Feature to Testnet

A recent forecast by cryptocurrency strategist Altcoin Sherpa suggests an impressive surge in the value of Solana (CRYPTO: SOL). According to him, the digital asset is expected to climb by a whopping 267% by year's end, potentially breaking the $500 mark.

Crypto Analyst Predicts This Altcoin Will Explode 260% In 2024, And Its Not Dogecoin Or Shiba Inu

Ethereum (ETH) rival Solana (SOL) is seeing a “dramatic increase” in professional investor allocations this year, according to a new survey conducted by the digital assets manager CoinShares. CoinShares polled 64 investors worldwide who cover a combined $600 billion worth of assets under management.

Solana Witnessing ‘Dramatic Increase' in Investor Allocations This Year, According to New CoinShares Survey

A closely followed crypto strategist is predicting an explosive rally later this year for one Ethereum (ETH) competitor. Pseudonymous analyst Altcoin Sherpa tells his 215,500 followers on the social media platform X that Solana (SOL) could soar 267% from its current value. “SOL: averaging into SOL is never a bad idea in my opinion.

Trader Predicts One Blue-Chip Altcoin Will Explode 260%+ This Year, Updates Outlook on Fetch.ai and Render

Crypto asset manager Pantera Capital has reportedly won a bid to purchase discounted Solana (SOL) from bankrupt crypto exchange platform FTX. According to a new report by Bloomberg, an anonymous person familiar with the matter says that Pantera won a bid to purchase a discounted stash of the Ethereum (ETH) rival.

Pantera Capital Wins Bid To Purchase a Stash of Discounted Solana From Bankrupt Crypto Exchange FTX: Report

More of FTX's Solana tokens have gone to Pantera Capital, as the bankrupt exchange's estate liquidates its $2.6 billion SOL holdings.

More of FTX's Solana Has Gone to Pantera Capital in Auction: Report

The current value of airdrops for Chapter 2 is around $385, with pre-orders for the phone costing $450 ahead of its tentative 2025 rollout.

Memecoin airdrops briefly cover cost of Solana ‘Chapter 2' mobile phone

Polygon

Stripe, the fintech giant, has decided to re-enter the cryptocurrency payment space after a six-year hiatus, starting with USDC stablecoins on the Solana, Ethereum, and Polygon blockchains.

Stripe Re-Enters Crypto Payments With USDC on Ethereum, Polygon, and Solana

Pantera was among the investors who won the bids for solana tokens at the FTX estate's auction, Bloomberg reported.

Pantera acquires additional discounted Solana tokens in FTX bankruptcy auction: report

Nubank, a Brazilian neobank, has introduced new features for its cryptocurrency customers. The Sao Paolo-based organization recently enabled deposits and withdrawals of bitcoin, ether, and solana in its cryptocurrency service, broadening the use cases of its platform. Before, the company only allowed users to purchase, hold, and sell cryptocurrency assets.

Brazilian Neobank Nubank Introduces New Crypto Wallet Features for Bitcoin, Ether and Solana

Payments giant Stripe has announced its return to the cryptocurrency space.

News for Solana Crypto (SOL)