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

Solana protocols Jupiter and Jito announce airdrops while Cosmos Hub prepares for a hard fork — check out these and more in our weekly DeFi roundup.

Week in DeFi: Solana Airdrop Season in Full Swing

The price of Solana (SOL) has survived two negative moments as sellers try to push the altcoin below the 21-day simple moving average.

Solana Continues His Positive Run And Breaks Out Above $62

Users can now check how much JUP token they're entitled to claim through DeFi platform Jupiter's upcoming airdrop.

Jupiter Reveals Airdrop Allocations for Solana DeFi Users

Jupiter, a DEX aggregator on Solana, opened its token airdrop. Some usersare already complaining about their allocations.

Solana DEX aggregator Jupiter starts token airdrop, with 10% of supply set to be allocated

Avalanche

Chainlink

A pseudonymous cryptocurrency analyst issued a warning to investors and traders in the digital currency ecosystem, predicting a gradual decline for several prominent cryptocurrencies, including Solana (CRYPTO: SOL), Chainlink (CRYPTO: LINK), Avalanche (CRYPTO: AVAX) and the decentralized finance (DeFi) token Rune (CRYPTO: RUNE). Altcoin Sherpa's analysis focused on specific technical indicators, particularly the .382 Fibonacci retracement levels and the 200-day Exponential Moving Averages (EMAs) on the four-hour charts.

Crypto Market Braces For Dramatic Shift: Analyst's Predictions About Solana, Chainlink, Avalanche Send Shockwaves

Bitcoin

Ethereum

Stellar

Solana (CRYPTO: SOL) has emerged as one of the top gainers among Layer-1 (or base) blockchains, up over 80% in the past month. Other top-performing Layer-1 cryptos in the past month include Avalanche (CRYPTO: AVAX) up 82%, Cardano (CRYPTO: ADA) up 28%, and Tron (CRYPTO: TRX) which gained 8%.

Solana's Stellar Month: Nearing $70 As Top Layer-1 Crypto, Surpassing Ethereum And Bitcoin

A closely followed crypto strategist believes that four altcoins including Solana (SOL), Chainlink (LINK) and Avalanche (AVAX) will witness a bearish December.

Crypto Trader Warns Slow Grind Down Incoming for Solana, Chainlink, Avalanche and One DeFi Altcoin

Solana beat all other major coins and tokens Wednesday by experiencing a price surge after cooling its November rally.

Solana Gets Some Shine: Ethereum Rival Rallies Again

Crypto market capitalization rose 2.3% in the past 24 hours.

Solana Leads Layer-1 Token Gains as Bitcoin Crosses $38K

Solana prices experienced some notable gains today, pushing higher as stronger investor sentiment fueled gains.

Solana Prices Rally As Market Sentiment Grows More Bullish

Lads on top: the prominent Solana NFT project leads the market in 24-hour sales volume as prices climb to yet another peak.

Solana's Mad Lads Top Bored Apes in Daily NFT Sales as Prices Surge

Three primary sectors are driving the development of Solana's (SOL) “vibrant” ecosystem, according to the Hong Kong-based crypto exchange CoinEx Global. CoinEx notes in a new analysis that the Ethereum (ETH) competitor's attention is focused on decentralized finance (DeFi), memecoins and decentralized physical infrastructure networks (dePIN).

These Three Narratives Are Driving ‘Vibrant' Solana (SOL) Ecosystem, According to Crypto Exchange CoinEx

The Solana-based Pyth token is up 35% over the last seven days.

Solana Token Pyth Pumps Following $77 Million Airdrop for DeFi Users

Solana's SOL token has experienced some notable volatility lately, falling more than 7% in under 24 hours as the highly visible digital currency continues to encounter

Solana Prices Suffer Their Latest Decline As Sharp Volatility Continues

The Solana DeFi platform Jito is giving 100 million JTO tokens to its community to facilitate collective governance.

Jito Reveals JTO Airdrop for Solana DeFi Users—Here's Who Can Claim

Polkadot

The digital asset investment sector experienced a significant surge last week, with inflows totaling $346 million, marking the largest weekly inflows during a nine-week consecutive run. This increase was primarily fueled by the anticipation of a spot-based exchange-traded fund (ETF) launch in the U.S., according to Coinshares.

Crypto Investment Is Hitting Records: These 5 Coins Top The List

Foundation managing Jito Lab's Solana-based liquid staking protocol launches JTO governance token with supply of 1 billion.

Solana MEV developer Jito launching governance token

Polygon

The Magic Eden Wallet is now in closed beta and promises a range of features for NFT collectors.

Magic Eden Launches Cross-Chain NFT and Crypto Wallet for Bitcoin, Ethereum, Solana, and Polygon

Solana (SOL) has held above the moving average lines, although the uptrend has been interrupted since November 15. The cryptocurrency is now in a sideways trend.

Solana Continues Sideways Movement Below $60

A Solana (SOL) competitor is suddenly soaring amid news that stablecoin issuer Circle (USDC) is investing in the blockchain project. The Sei Network (SEI), the new layer-1 blockchain that claims to be a blockchain faster than Solana, reached a high of $0.

Solana Competitor Explodes Over 110% in Two Weeks Amid New Investment From USDC Issuer Circle

A widely followed crypto analyst is expressing bullish sentiment on the native token of a blockchain oracle network that launched its permissionless mainnet earlier this week.

Newly Launched Solana-Based Altcoin Could Explode by More Than 880% in 24 Months, According to InvestAnswers

Top crypto analyst Bluntz says that the recent correction in Solana (SOL) is over and that rallies are set to continue for the leading Ethereum (ETH) rival. In a new strategy session, the pseudonymous analyst tells his YouTube subscribers that SOL has completed an ABC correction, priming itself for another impulse to the upside.

This Ethereum Rival's Poised To Be the ‘Fastest Horse,' Will Skyrocket Much Higher: Top Analyst

A popular crypto analyst is predicting that one Ethereum (ETH) competitor will soar to three figures in 2024. Pseudonymous trader Altcoin Sherpa tells his 198,500 followers on the social media platform X that Solana (SOL) will likely increase by at least 72% from its current value next year.

Crypto Analyst Says Ethereum Competitor Solana Primed To Surge by at Least 70% – Here's the Timeline

A widely followed strategist is saying that he is bullish on the Ethereum (ETH) scaling solution Polygon (MATIC) while offering his outlook on three other crypto assets. The crypto strategist pseudonymously known as Bluntz tells his 229,400 followers on the social media platform X that Polygon has more upside potential.

Top Analyst Says Polygon Has Plenty of Fuel in the Tank, Updates Outlook on Bitcoin, Ethereum and Solana

Bonk

BONK's meteoric rise fired a second-stage booster with a new futures offering alongside PYTH.

News for Solana Crypto (SOL)