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

Having impressed the FTX brain trust, tokens for this Ethereum rival were concentrated in the wrong portfolio at the wrong time. But the technology that won over Bankman-Fried is impressing investors anew.

Why SBF's Favorite Crypto, Solana, Has Doubled Since September

Ethereum

Bitcoin (CRYPTO: BTC) moved lower, but the cryptocurrency prices traded above the key $34,000 level on Friday. Ethereum (CRYPTO: ETH) also traded lower, falling below the key $1,800 mark this morning.

Ethereum Falls Below $1,800 Following Jobs Report; Solana, Conflux Among Top Losers

A prominent digital asset venture capitalist believes that the crypto markets may mirror a major rally from recent years. Placeholder Capital founder Chris Burniske tells his followers on the social media platform X that the crypto markets may soar and suddenly retrace as they did in 2019.

Investor Who Nailed 2022 Solana (SOL) Bottom Predicts 2019-Style Crypto Rally – Here's What He Means

SOL has gained over 50% in two weeks with buyers from Coinbase playing a major role in powering the cryptocurrency higher.

Solana's Rally Marshalled by Buyers From Coinbase, Data Shows

Bitcoin

The founder of SkyBridge Capital says that Bitcoin (BTC) and one Ethereum (ETH) competitor have helped the firm see strong returns on its investments.

SkyBridge Capital's Anthony Scaramucci Says Bitcoin and One Ethereum Rival Have Boosted the Firm's Returns

Solana's [SOL] spectacular comeback – up over 300% this year – has captivated crypto market participants after being one of the most beaten-down assets during the bear market.

Solana Is Down 15% Since Hitting a 14-Month High. Is the Rally Over?

Solana outperformed all other blue chips in a 27% rally this week, however, the altcoin has fallen by over 7% in the past 24 hours.

Solana retraces gains as analysts say multi-week rally is a price correction

Decentraland

Solana is this week's biggest gainer, but another token has topped the charts over the past day, with Decentraland's MANA up 12%.

Not Just Solana: Gaming Tokens Are Booming as Decentraland's MANA Pumps

Polygon

A Bloomberg crypto analyst says that Ethereum (ETH) and two other altcoins are creating unprecedented financial opportunities for emerging markets. Blockchain analyst Jamie Coutts says on the social media platform X that ETH, Polygon (MATIC) and Solana (SOL) are unlocking greater access to the private credit market.

Bloomberg Analyst Says Ethereum, Polygon and Solana Unlocking Opportunities for Emerging Markets – Here's How

A widely followed crypto strategist is updating his outlook on one red-hot artificial intelligence (AI) altcoin. The pseudonymous crypto analyst Pentoshi tells his 707,100 Twitter followers that Fetch.AI (FET) is likely entering a consolidation phase after soaring 307% year-to-date. “Update: mid-term resistance resisting.

Top Trader Updates Outlook on AI-Focused Altcoin That's Exploded 307% Year-to-Date, Unveils Targets for Solana

Solana (SOL), an alternative layer-1 blockchain and Ethereum challenger, has experienced a remarkable surge, with its price reaching $46.30 and gaining over 21% at one point in the past day.

Solana Rallies 20%, Outperforming Other Large Caps

Aave

A crypto strategist who accurately called the top of Bitcoin's (BTC) 2021 bull market is expecting another leg up for XRP. Pseudonymous analyst Pentoshi tells his 706,900 followers on the social media platform X that XRP looks bullish after taking out a key resistance level at $0.548. “XRP fans. A breakout above $0.

Top Analyst Predicts Breakout Rally for XRP, Updates Outlook on Solana and Ethereum-Based Altcoin

The value of FTX's stake in Solana's SOL token, for instance, has just added $1 billion in two weeks.

A Year After Sam Bankman-Fried's Downfall, Solana and Other FTX Holdings Are Flying High

Solana fell to as low as $8 after the collapse of FTX. It's now up over 80% in the last 30 days.

What's Driving the Solana Rally?

The Federal Reserve pulled no surprises on Wednesay as it kept policy on hold but promised a continued focus on bringing inflation to heel.

Bitcoin Retakes $35K After FOMC as Solana's SOL Leads Sharp Altcoin Rally

Solana (SOL) continued its remarkable rally Wednesday and hit a 14-month high price, but sell pressure may soon hit the market as FTX unstaked another $65 million of tokens after moving millions of SOL to crypto exchanges over the past few days.

Solana Surges to 14-Month High; Sell Pressure Lingers as FTX Unstakes $67M Tokens

The Comeback Coin: Solana Soars 20% as Rally Rages On

Bitcoin's price rose after the U.S. Federal Reserve decided to hold interest rates at their current level, as expected.

Bitcoin's price is mostly flat as Fed holds rates steady; Solana leads altcoin rally

SkyBridge Capital, the hedge fund company founded by Anthony Scaramucci, on Tuesday, said it experienced record-breaking monthly returns, primarily attributed to investments in Bitcoin (CRYPTO: BTC). What Happened: According to Scaramucci, the month of October has been the best in SkyBridge's history.

Anthony Scaramucci Says Skybridge Had 'Best Month' In History Thanks To Investments In These 2 Coins: 'It Served Us And Our Clients Well'

Solana has displayed some very impressive performance lately, rising over 80% in a matter of weeks.

Solana Prices Climbed More Than 80% In Under A Month

Backpack, the Solana-based app best known for "xNFTs" and its connection to the Mad Lads project, will roll out a regulated crypto exchange.

Solana NFT App Backpack Launching Crypto Exchange With Dubai License

Bitcoin's rally has slowed—for now. But alts like XRP, SOL, and TON are still surging.

Bitcoin Dips as ETF Hype Fades—XRP, Solana and Toncoin Surge

Google Cloud's BigQuery has integrated Solana, offering enhanced insights into the blockchain's archival data and analytics.

Solana goes live on Google Cloud's BigQuery data analytics platform

The latest price moves in bitcoin [BTC] and crypto markets in context for Oct. 31, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Solana's SOL Gains 50% in October

Former Goldman Sachs executive Raoul Pal says Solana (SOL) is starting to look like a rocket ship on the charts as it gears up for big developments. In a new interview with Scott Melker, Pal touches on Firedancer, a new validator client for the Solana chain which is being developed by trading giant Jump Crypto.

News for Solana Crypto (SOL)