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

Avalanche

Grayscale Investments has asked the SEC for permission to convert its Digital Large Cap Fund—which includes Solana and more—into an ETF.

Grayscale Seeks to Convert Fund With Solana, XRP and Avalanche Into ETF

The total value locked (TVL) in the decentralized finance (DeFi) ecosystem of Solana (SOL) has finally surpassed $6 billion, a level last reached almost three years ago.

Solana's DeFi TVL Reaches $6B For the First Time in Three Years

The community behind a synthetic dollar protocol on Ethereum (ETH) is proposing adding a top ETH rival to its reserve assets for its stablecoin. According to a new Ethena (ENA) community proposal, the community is considering adding Solana (SOL) as a reserve asset for the US-dollar pegged stablecoin USDe.

Ethena (ENA) Community Proposes Using Solana (SOL) To Back USDe Stablecoin

If the proposal is approved, SOL will join BTC and ETH within Ethena's collateral mix.

Ethena Labs Proposes SOL for USDe's Collateral

Bitwise chief investment officer Matt Hougan is pointing out metrics for one Solana (SOL) competitor that he says are impressive. Hougan tells his followers on the social media platform X that out of all the charts he's looked at recently, the on-chain metrics of Aptos (APT) are standing out the most.

Bitwise CIO Matt Hougan Says He's ‘Struck' by Two Charts From One Solana (SOL) Rival

ETC Group, a Bitwise-owned London-based fund issuer, examined the possibility of Solana and Aptos becoming the next Ethereum in its latest newsletter. Their analysts revealed that while these two chains have grown and enjoyed momentum, Ethereum is still the overall leader according to ETC Group's Network Dominance Index.

Analysts Consider These 2 Chains Might Become Ethereum Killers

Real Vision's chief crypto analyst Jamie Coutts is saying that a top Ethereum (ETH) competitor may be on the verge of a massive breakout. Coutts says that the number of active Solana (SOL) addresses has soared by triple digits in percentage terms in the last three months, far more than other smart contract platforms.

Top Ethereum Rival Solana Primed for a Breakout, According to Real Vision Analyst Jamie Coutts – Here's Why

A widely followed crypto analyst believes that one red-hot Solana (SOL) rival may soon print new all-time highs (ATHs). Crypto trader Michaël van de Poppe tells his 729,500 followers on the social media platform X that Sui (SUI) could soar more than 23% from its current value. “Sometimes you'll need to remain patient.

Solana Rival That's Exploded Over 130% in a Month Primed To Hit New All-Time High, According to Analyst

Banking giant Standard Chartered predicts that solana could experience a significant surge of up to 400% if Donald Trump wins the 2024 U.S. presidential election. The bank's head of digital assets suggests that solana's faster transaction speed and support for decentralized applications position it well in a crypto-friendly environment.

Solana Could Surge 400% Under Trump Presidency, Standard Chartered Predicts

Ethereum

Polygon

Payments giant Stripe is announcing global support for USDC settlements over the Ethereum (ETH), Solana (SOL), and Polygon (POL) blockchains.

Stripe To Roll Out Support for USDC Payments on Ethereum, Solana and Polygon in Over 150 Countries

Bitcoin

Chainlink

Crypto analytics platform Santiment is naming 20 digital assets that may soon rally based upon one key metric.

Here Are 20 Crypto Assets With the ‘Best Chance' of Rallying Based on Sentiment, According to Analytics Firm

The SEC continued its crypto crackdown Thursday with charges against Cumberland, again calling Solana and other assets securities.

SEC Sues Crypto Trading Firm Cumberland, Again Alleges Solana and Polygon Are Securities

The price of Solana (SOL) has fallen below its moving average lines, reaching a low of $133. The altcoin has been trading between $130 and below the moving average lines over the past week.

Solana's Rebound Above $130 Points To Demand At Lower Prices

Stripe has announced the reactivation of crypto payments for U.S. businesses, allowing businesses to accept USDC through Ethereum, Solana, and Polygon.

Stripe Enables USDC Crypto Payments for U.S. Companies Across Ethereum, Solana and Polygon

It's the first time in six years that Stripe's U.S. business customers can accept crypto payments since it ended support for bitcoin in 2018.

Stripe reinstates crypto payments for US businesses via USDC on Ethereum, Solana and Polygon

Bitget Research, the institutional analysis side of Bitget (CRYPTO: BGB) crypto exchange, has released a statement predicting the price of Solana (CRYPTO: SOL) to reach or exceed $160 to $180 in October and largely credits the bullish sentiment on memecoin activity. What Happened: Ryan Lee, Chief Analyst at Bitget Research said, "Based on the current market sentiment, the development of the Solana ecosystem, and the involvement of major partners, SOL may reach or exceed the price range of $160 to $180 in October.

Bitget Predicts Solana To Hit Up To $180 In October, Meme Coin Boom To Continue

Standard Chartered's Global Head of Digital Assets Research Geoff Kendrick predicts a potential increase in the value of Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL), irrespective of who wins the U.S. election. What Happened: Kendrick's projections include a potential quadrupling of Ether and a tripling of Bitcoin's value under a Trump administration.

Bitcoin, Ethereum, Solana Projected To Surge By 2025, Regardless Of Election Outcome: Report

The bank's analysts remained bullish on bitcoin and crypto in general no matter who wins the presidency in November.

Solana Is 'Richly Valued' Versus Ether, But Could Still Outperform If Trump Gets Elected: Standard Chartered

The bank also predicted that Bitcoin will hit $200,000 by the end of 2025, regardless of who wins the U.S. Presidential election.

Solana to Outperform Ethereum, Bitcoin in 2025 if Trump Reelected: Standard Chartered

Crypto prime broker FalconX couldn't figure out who the SOL tokens belonged to until crypto exchange Binance came asking for them.

Binance, FalconX and the Curious Case of 1.35M Missing Solana Tokens

Standard Chartered's Geoff Kendrick forecasts Solana's price could increase fivefold by the end of 2025, if Trump wins U.S. presidential race.

Standard Chartered says solana price could surge fivefold by end of 2025 if Trump wins presidency

Solana (SOL) co-founder Anatoly Yakovenko believes meme tokens have a role to play in advancing the product-market fit of crypto projects. Yakovenko says on the social media platform X that memecoins offer something unique to the crypto industry.

Solana Creator Anatoly Yakovenko Says Memecoins Are a Good Thing for Crypto, Forcing Projects To Prove Value

Grammy-winning rapper Cardi B appears to have launched a meme coin. And insiders look to have already made $250,000 from it in just 12 hours.

Insiders Have Made $250,000 on Cardi B WAP Solana Meme Coin in Just 12 Hours

As we move into the final quarter of 2024, all eyes will be on Solana to see if it can maintain its commanding lead in new token launches.

Solana dominates token launches, accounting for over 87% of new tokens in 2024

Arbitrum

Some 63% of web3 whitehats now consider hacking to be their primary job, up from 56% in 2023, according to Immunefi.

News for Solana Crypto (SOL)