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

Dogecoin

Crypto trader Ali Martinez is highlighting a layer-one altcoin that could appreciate by 30x. Martinez tells his 132,300 followers on the social media platform X that Solana (SOL) is developing a cup and handle pattern on the weekly time frame that could lead to a 2,915% surge.

Trader Says Ethereum Rival Forming Bullish Setup That Could Trigger 2,915% Rally, Updates Outlook on Dogecoin

XRP rose 5% following a strong week for closely-related Ripple Labs, which bagged a payments license in the UAE and, per sources, is said to be on track for a close of its long-running court case against the U.S. Securities and Exchange Commission.

SOL, XRP Zoom 5% Higher as Bitcoin Grapples With $84K Level

A Solana (SOL) layer-2 scaling solution defied the wider crypto market slump and surged by more than 41% this week following a flurry of recent exchange listings. Solayer (LAYER) is a blockchain network designed for high throughput and near-zero latency.

Solana Layer-2 Scaler Defies Crypto Market Slump, Surges 41% This Week Amid Multiple Exchange Listings

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Daily: Solana's inflation-cutting proposal fails to pass, Russian oil companies reportedly using crypto to circumvent sanctions and more

Bitcoin

Chainlink

The rebound in risk assets propelled BTC above its 200-day moving average, a key benchmark for the long-term trend.

Bitcoin Tops $84K, Battling Key Level for Bulls; SOL, LINK Lead Gains

SIMD-228 sought to reduce SOL token inflation by introducing a dynamic emissions model based on staking participation.

Solana's key SIMD-228 proposal fails to pass validator vote, token emissions unchanged

Solana's high inflation status quo will remain –– for now.

Solana Inflation Reform Effort Fails on Dramatic Final Voting Day

A widely followed analyst is leaning bullish on Solana (SOL) over the long term amid an upcoming upgrade. In a new video, the analyst pseudonymously known as InvestAnswers tells his 563,000 YouTube subscribers that a proposal to reduce Solana's inflation rate by around 80% at the end of Epoch 755 heightens Solana's bullish prospects.

Analyst Unveils Catalysts That Could Trigger ‘Crazy Pump' for Solana, Says SOL Could Become the Hardest Layer-1

If approved, the proposal could lead to a sharp reduction in the SOL inflation rate, potentially boosting the token's value.

Solana Proposal, Which Could Cut SOL Inflation By 80%, Gains Limited Validator Support

Ethereum

Binance CEO Richard Teng on Thursday expressed optimism that the pro-cryptocurrency policies introduced by U.S. President Donald Trump will inspire a wave of similar regulatory shifts worldwide. What Happened: Speaking at the CONVERGE LIVE event in Singapore on Thursday, Teng highlighted a dramatic change in the global financial landscape, noting that the United States, the world's largest economy, is now openly supporting digital currencies after years of regulatory uncertainty and skepticism under the previous administration.

Binance CEO Richard Teng Hails Donald Trump's Bitcoin Reserve, XRP, Ethereum, Solana Digital Asset Stockpile

Bitcoin and Ethereum ETFs were only the start: Issuers are now applying to offer all kinds of U.S. funds—for Dogecoin, Solana, XRP and more.

Which Crypto ETFs Are Next? Dogecoin, XRP, and Solana Lead the List

The U.S. Securities and Exchange Commission is unlikely to approve or reject crypto ETFs until its new leadership is in place, according to a new report. What Happened: Coindesk on Wednesday reported that the SEC has acknowledged multiple spot crypto ETF applications but is unlikely to approve them until its leadership is settled.

Trump-Appointed SEC Chair Could Fast-Track Crypto ETF Approvals: XRP, Solana, Dogecoin ETFs Coming By June?

Grayscale, Canary Capital, Bitwise and 21Shares have filed for ETFs in recent months tracking the price of the sixrh largest crypto by market value.

CBOE Applies for Rules Change to List Franklin Templeton Solana ETF

Franklin Templeton has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch the Franklin Solana ETF, a new exchange-traded fund designed to track the price of the cryptocurrency Solana (SOL).

Franklin Templeton Aims to Launch Solana ETF, Files With SEC

The filing comes one day after Franklin Templeton filed an S-1 with the SEC to list and trade a spot XRP ETF.

Franklin Templeton becomes largest asset manager to file for Solana ETF

Sol Strategies has signed a definitive agreement to acquire three Solana validators, including the prominent Laine validator, and the analytics site Stakewiz.com. This move significantly boosts its staked SOL to 3.3 million and enhances its institutional staking services on the Solana blockchain. Sol Strategies Strengthens Solana Presence with Acquisition of Laine Validator and Stakewiz.

SOL Strategies to Control Over 3.3 Million Staked SOL Following Major Validator Acquisition

A crypto strategist who accurately timed Solana's (SOL) meltdown this year thinks the next few years will not be kind to the popular layer-1 protocol. Pseudonymous analyst Bluntz tells his 318,400 followers on the social media platform X that he believes SOL will spend the next two years in deep bear territory.

Crypto Strategist Unveils Three-Year Price Outlook for Solana, Updates Forecast on US Dollar Index

Bitcoin and other top crypto assets are rising again after getting hit hard by President Trump's tariff twists and recession fears.

Bitcoin, XRP and Solana Bounce Back After Crypto Market Bloodbath

Blockchain sleuthing firm Bubblemaps launched its BMT token for its upcoming investigation platform. But some investors aren't happy.

Crypto Sleuthing Firm Bubblemaps Launches Token on Solana and BNB

Blum Trading Bot has rolled out a new feature allowing users to trade Solana (SOL) tokens directly through its platform.

Blum Trading Bot Introduces Solana Trading Feature

The token's realized price, the average cost basis of all coins last moved, has dropped below $134 for the first time since May 2022.

Solana's SOL Slips Below Key Price Level for the First Time in 3 Years

A widely followed analyst is outlining the potential path forward for Bitcoin (BTC), Solana (SOL) and other crypto assets. The analyst pseudonymously known as InvestAnswers tells his 563,000 YouTube subscribers that Bitcoin, Solana and other crypto assets are in a “classic bear trap.

Bitcoin, Solana and Crypto Markets Likely in ‘Classic Bear Trap' Before Euphoric Move: InvestAnswers

The total amount of transaction fees generated on the Solana network last week stood at just 53,800 SOL.

Transaction fees generated on Solana network fall to lowest weekly amount since September

Not even the president's meme coin is weathering the crypto market downturn, with TRUMP now down more than 85% from its all-time high.

President Trump's Solana Meme Coin Down 85% From Peak as Inflation Fears Slam Bitcoin

Controversy surrounding meme coins has affected Solana's price as token unlocks test confidence, according to one analyst.

News for Solana Crypto (SOL)