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

Circle's euro-backed stablecoin, EURC will now be available on Solana for real-time, global payments and all-time available instant foreign exchange trading. What Happened: The Solana (CRYPTO: SOL) blockchain has now added Circle's (CRYPTO: USDC) euro-backed stablecoin EURC amid the former's low-cost, faster transactions supporting multiple ecosystem applications.

Circle Launches EURC Stablecoin On Fourth Blockchain, Solana Sees 3-Month Surge Of 260%

dogwifhat

It's a dog. With a hat. And the Solana token based on the dogwifhat meme is the latest to surge in value after BONK's boom.

The Next BONK? Solana Meme Coin Dogwifhat Pumps 2,000X in a Month

Solana and other altcoin funds saw $21 million deposited last week.

Bitcoin Funds See 'Profit-Taking' Dip, But Investors Still Like Solana

Stablecoin issuer Circle has now launched its euro-backed digital currency on a total of four different blockchains.

Circle adds Solana to list of chains used by EURC stablecoin

Bonk

Following Helium's nationwide U.S. rollout, the Solana-based tokens powering the decentralized 5G network have surged.

Helium Tokens Surge Amid Network Expansion, Solana Saga BONK Mania

Circle aims to boost around-the-clock foreign exchange transactions and remittances by deploying EURC on Solana.

Circle Issues Euro-Backed Stablecoin EURC Natively on the Solana Blockchain

A closely followed crypto analyst says that one Ethereum (ETH) rival that has exploded about 600% year to date is gearing up to spark another move to the upside.

Ethereum Rival That's Up About 7x Year-to-Date Primed To Explode Over 400% During Bull Run: Crypto Analyst

Solana (CRYPTO: SOL) Saga phones, which previously had trouble finding buyers, have sold out, fetching prices as high as $5,000 on eBay. What Happened: This sudden sales boost can be attributed to a frenzy surrounding the free Bonk memecoin airdrop included with each phone.

Solana Saga Phones Sold Out Amidst BONK Memecoin Buying Spree

The sealed and unopened phone boxes contain an airdrop of 30 million bonk (BONK) tokens, which has seemingly revived dismal Saga sales.

BONK's Surge Send Prices of Solana Saga Phone Flying to $2K

The price of Solana (SOL) is still within the positive trend zone, even though the upward trend has come to a standstill.

Solana's Price Uptrend Stops At $75 And Threatens To Sink

The phones, which come with an airdrop of BONK tokens, were initially deemed a failure. Now they're reselling for $2,000 and up.

Solana Saga phone sells for $5,000 on eBay as BONK hype continues

The Solana (SOL)-based decentralized exchange (DEX) Jupiter (JUP) will be airdropping a billion of its tokens early next year, according to its founder.

1,000,000,000 Jupiter (JUP) Tokens To Be Airdropped to Solana Wallets in January, According to Founder

A trader who nailed the top of the 2021 Bitcoin (BTC) bull market is warning of a severe market correction for one Solana (SOL)-based memecoin. Pseudonymous analyst Pentoshi tells his 711,700 followers on the social media platform X that Bonk (BONK) could lose half its value within weeks.

Solana-Based Altcoin That's Rallied Over 1,200% Primed To Crash ‘Within Four to Six Weeks,' Says Top Analyst

Bitcoin

Bitcoin and other major coins and tokens are down. But new meme coin BONK is still rallying.

This Week in Coins: Bonk Continues Surge With Solana Hype, Bitcoin Dips

Half of the 10 billion JUP supply will ultimately go to the Jupiter community, with 10% landing in Solana wallets during the first airdrop.

Jupiter Airdrop Set for January With a Billion JUP for Solana DeFi Users

The Saga is sold out in the U.S. and EU supplies are nearly tapped out. Solana Labs told Decrypt how it's assessing next moves.

Solana Weighs Demand for Saga Phones After Sellout Amid BONK Boom

Solana-based meme coin BONK has continued to soar in value and hit new all-time highs—and the Saga smartphone is an unexpected beneficiary.

BONK Spikes 101% Amid Solana Saga Sales Frenzy to Claim Airdrop

A rally in the price of cryptocurrencies such as Solana (SOL), which is currently trading at $78, has set the market for FTX bankruptcy claims on fire, according to specialists at distressed firms dealing in crypto.

Solana Rally Sees FTX's Holdings Grow to $3.3B, Setting Claims Market on Fire

From BONK making wild moves to Trump offering a dinner date to Mugshot NFT buyers, here is a 4-minute breakdown of everything important that happened in crypto this week.

Week in Crypto: SafeMoon Declares Bankruptcy, BONK Revives Solana's Phone, HTX Sees Massive Outflows

Binance's announcement to list Solana's (CRYPTO: SOL) BONK (CRYPTO: BONK) has sent its value soaring, surpassing the $0.000029 mark – recording a 950% surge within a month. What Happened: Amidst this rise,on-chain data spotted by Lookonchain shows one trader cashing out 52.3 billion BONK at approximately $927,000, securing a profit near $784,000.

This Crypto Trader Made Over $800K In Profits After Binance Announced Listing Solana's Meme Coin BONK

The Solana (CRYPTO: SOL) network's developers are celebrating a windfall, thanks to a BONK token airdrop they received last Christmas. The initial worth of the airdrop was a mere $300, but it has now skyrocketed to an impressive $500,000.

BONK Mania: How A $300 Christmas Gift To Solana Developers Snowballed Into $500K

The recent rally in the price of bonk tokens has created a strange price arbitrage, leading to high sales of the Solana phone.

Solana phone sells out in US as traders spot arbitrage with bonk's skyrocketing price

The Saga phone, once facing lackluster sales, is now witnessing a surge in demand due to the memecoin BONK.

Solana's Saga Phone Sales Surges Thanks to BONK Memecoin

Solana prices have experienced some compelling upside in the last 48 hours, rallying as the highly visible cryptocurrency benefits from a variety of positive developments.

Solana Prices Surge Over 15% As Multiple Bullish Factors Fuel Latest Gains

The Solana (CRYPTO: SOL) blockchain-powered smartphone, Saga, has seen a surge in sales, thanks to an airdrop of over 30 million BONK (CRYPTO: BONK) tokens specifically for Saga phone owners. The increase in demand is a sharp shift from previous lackluster interest in the device.

News for Solana Crypto (SOL)