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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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

Bitcoin

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

Ethereum

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

Avalanche

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.

Crypto Exchange Coinbase Adds Solana-Based DEX to Listing Roadmap

Solana DEX Drift has officially launched its token and opened airdrop claims for 120 million tokens — with a bonus component.

Solana DEX Drift opens airdrop claims for 120 million tokens with bonus

Galaxy Digital CEO Mike Novogratz is predicting that new “market events” will propel Bitcoin (BTC) and other crypto assets to the next leg up.

Billionaire Mike Novogratz Says New ‘Market Events' To Propel Bitcoin, Ethereum and Solana Higher

The cryptocurrency arm of brokerage firm Robinhood Markets Inc. (NASDAQ:HOOD) announced the launch of its first-ever cryptocurrency staking product, though the new service will be limited to the European market. What Happened: The offering will cover Solana (CRYPTO: SOL), the fifth-largest cryptocurrency by market cap, Robinhood stated in a blog post on Wednesday.

Robinhood Launches Its First Crypto Staking Offering For Solana But Feature Limited To Europe

Real Vision analyst Jamie Coutts believes Bitcoin (BTC) and a certain breed of altcoins will be beneficiaries of artificial intelligence's (AI) rise to prominence. The former Bloomberg analyst tells his 16,200 followers on the social media platform X that AI will need a money system, and that BTC may be the best available form.

Ethereum, Solana and One More ETH-Rival Will Benefit From Rise of Artificial Intelligence: Real Vision Analyst

Solana (SOL) is currently trading above the $143 support level and the 21-day SMA as a result of the recent price rise.

Solana Oscillates Due To The Hurdle At $156

The meme coin craze is back on the Solana blockchain. Tokens paying homage to meme stock legends GameStop and AMC have been soaring, while the presale for Sealana (SEAL) just passed the $900,000 funding milestone. GMEWIFHAT & AMC Meme Coins Rocket on Solana Meme stock madness has fully spilled over to Solana.

GMEWIFHAT and AMC Solana Meme Coins Explode as Sealana Nears $1M

Unipics also known as ‘Bonk Guy', revealed a seven-figure profit in 48 hours trading AMC (CRYPTO: AMC) and GameStop (CRYPTO: GME) derivatives on Solana. What Happened: Bonk Guy disclosed that he invested around $155,000 in trade which is currently worth $1.3 million with an unrealized profit of $1.15 million (marking 641% gains).

Millionaire Trader 'Up 7 Figures In 48 Hours' On GameStop And AMC Meme Coins On Solana

Shiba Inu

Crypto trader Intuitio declared the current market downturn a "bear trap," comparing it to the 2021 summer bear trap while noting the stronger positions of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) this time around. What Happened: Intuitio asserts that the present summer bear trap closely mirrors that of 2021.

Why This Crypto Market Is 'A Bear Trap' And Which Coins This Trader Is Backing

Polygon

Paradigm, a prominent over-the-counter (OTC) liquidity network in the crypto industry, unveiled a new block trading feature on Deribit, a leading derivatives exchange.

News for Solana Crypto (SOL)