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

The price of Solana's native cryptocurrency fell another 6% on Thursday, pulling other tokens in the ecosystem down with it.

Solana-Based Tokens Tumble as ‘Ethereum Killer' Continues Slide

The price of Solana, a cryptocurrency token that had been lauded by FTX founder Sam Bankman-Fried, fell 10.36% on Wednesday, and is down 94.2% so far in 2022.

Solana crypto token loses most of its value in 2022, FTX collapse weighs

SOL has dropped a further 29% this month after taking a hard hit amid the FTX collapse, plus Solana's top NFT projects are moving on.

Solana Sinks Below $10 for First Time in Nearly Two Years

Ethereum

Luna Classic (Former Terra)

Bitcoin (CRYPTO: BTC) recorded losses this morning, with prices for the most valued cryptocurrency in the world, trading below the $16,700 level on Wednesday. Ethereum (CRYPTO: ETH), also traded lower, falling below the key $1,200 mark on Wednesday.

Ethereum Slides Below $1,200; Terra Classic, Solana Among Top Losers

"DeGods" and "Y00ts," two of the top non-fungible token (NFT) projects on the Solana (CRYPTO: SOL) platform, have announced that they will be leaving the SOL ecosystem. The DeGods team will be switching to Ethereum (CRYPTO: ETH), while Y00ts will migrate to Polygon (CRYPTO: MATIC), both in the first quarter of the year.

Top Solana NFT Projects 'DeGods' And 'Y00ts' Leaving SOL, Switching To These 2 Blockchains

Mercurial is the latest to move away from FTX's shadow.

Solana DeFi Project Mercurial to Relaunch as 'Meteora,' Replace MER Token

Two prominent Solana projects have announced they are transitioning over to new blockchains. The non-fungible token (NFT) venture Degods detailed it will be moving to the Ethereum chain and the Y00ts NFT team detailed it is moving to Polygon. Both teams said the transitions will take place in 2023.

2 NFT Projects Plan to Transition From Solana to Alternative Blockchains

Polygon

Ethereum (ETH) rival blockchain Solana (SOL) is taking another bear market hit as its two biggest non-fungible token (NFT) projects announce a migration to other chains. On Christmas day at nearly the same time, Solana-based NFT projects y00ts and DeGods III announced on Twitter that they are bridging to Ethereum and Polygon (MATIC) next year.

Solana's Two Biggest NFT Projects Moving to Ethereum (ETH) and Polygon (MATIC) As SOL Approaches Yearly Low

DeGods and y00ts, two of Solana's leading non-fungible token (NFT) collections, have announced plans to move to Ethereum and Polygon. The post Top Solana NFT projects DeGods & y00ts are headed to Ethereum and Polygon appeared first on The Block.

Top Solana NFT projects DeGods & y00ts are headed to Ethereum and Polygon

Litecoin

CNBC host Jim Cramer is warning people to stay away from cryptocurrencies, especially Solana (SOL) and Litecoin (LTC). In a new CNBC interview, Cramer says that he has sold all his digital asset investments and would not enter the space again, in the aftermath of the FTX collapse.

CNBC's Jim Cramer Warns Solana and Litecoin Holders, Says He Wouldn't Touch Crypto ‘In a Million Years'

Uniswap

Solana fell to a one-month low to start the weekend, as cryptocurrency markets moved lower ahead of Christmas Day. Today's drop saw the token fall for a fourth straight session, as market sentiment shifted bearish. Uniswap was also in the red on Saturday, with price falling for a second consecutive day.

Biggest Movers: SOL Hits 1-Month Low on Saturday, as UNI Extends Recent Declines

Bitcoin

A crypto strategist says that the new year will bring a doubling in price for several cryptocurrencies, including Bitcoin (BTC), Polygon (MATIC) and Solana (SOL).

Bitcoin, Polygon and One Ethereum Rival To More Than Double in Price, Says Crypto Analyst – Here's the Timeline

Chainlink

Polkadot

USDC

A trading robot with a reputation for outperforming the digital asset markets is sharing its newest Bitcoin (BTC) and altcoin portfolio allocations amid the ongoing crypto winter. Every week, the Real Vision Bot conducts surveys to compile algorithmic portfolio assessments that generate a “hive mind” consensus.

Algorithm Known for Outrunning Crypto Markets Allocates to Polygon, Uniswap, Chainlink and Three More Altcoins

Cardano

Popular crypto trader Jason Pizzino is updating his outlook on Polygon (MATIC), Solana (SOL) and Cardano (ADA). In a new video update, Pizzino tells his 279,000 YouTube subscribers that blockchain scaling solution Polygon could see a more than 30% decline from its current price of $0.798 if it takes out a high timeframe support level.

Here's What's in Store for Polygon (MATIC), Solana (SOL) and Cardano (ADA), According to Top Analyst

The derivatives trader is back after an 8-month hiatus.

Crypto Trading Protocol Drift Relaunches Into Rocky Solana DeFi Landscape

Avalanche

Real Vision CEO Raoul Pal says that Polygon (MATIC) and a pair of Ethereum (ETH) challengers are on the cusp of ‘unlocking something big.' In a new video update, the macro guru says that Solana (SOL), Polygon and Avalanche (AVAX) are furthering crypto adoption by carving out their own niches within the industry.

Polygon, Avalanche and Additional Ethereum Rival Are ‘Unlocking Something Big,' Says Macro Guru Raoul Pal

A hacker just exploited the Solana (SOL)-based automated market maker (AMM) Raydium (RAY) for more than $4.3 million in crypto. Raydium first acknowledged the hack on Twitter on Friday morning. “An exploit on Raydium is being investigated that affected liquidity pools. Details to follow as more is known.

Hacker Exploits Solana-Based Project Raydium for Over $4,300,000 As the Protocol's Native Token Slumps

The attacker appears to have used the protocol's own private keys to drain liquidity pools. It's unclear how they got them.

Solana DeFi Exchange Raydium Hacked for Over $2 Million

Amid the market chaos within the crypto economy and following the climactic FTX collapse, the crypto asset solana has been one of the hardest hit during the last 30 days. Since FTX's fallout, the digital currency lost 8.5% over the last month against the U.S. dollar and to date, it's down 94.

Solana Struggles to Remain in the Top 20 as Prior Ties to FTX and Alameda Wounded the Project

Currently, about $2 million of different cryptocurrencies are sitting in the attacker's account.

Solana-Based Raydium Exchange Victim of 9-figure Exploit

Solana-based decentralized exchange Raydium suffered an exploit that appears to have taken more than $2 million. The post Solana-based exchange Raydium suffers $2 million exploit appeared first on The Block.

Solana-based exchange Raydium suffers $2 million exploit

In this episode of The Scoop, Solana co-founders Raj Gokal and Anatoly Yakovenko discuss how Solana initially became intertwined with FTX, and when they first started to notice that Sam Bankman-Fried's ambitions diverged from the crypto ethos. The post Why FTX's collapse is a ‘crucible moment' for Solana appeared first on The Block.

Why FTX's collapse is a ‘crucible moment' for Solana

Magic Eden, Solana's biggest NFT platform, now supports Polygon NFT minting and trading.  The post Magic Eden bolsters gaming support by adding Polygon NFT minting and trading appeared first on The Block.

Magic Eden bolsters gaming support by adding Polygon NFT minting and trading

The move comes after several changes to bolster user engagement on the platform, such as a reinstated creator royalty system.  The post Magic Eden introduces discount and rewards system for marketplace users appeared first on The Block.

Magic Eden introduces discount and rewards system for marketplace users

The top Solana NFT marketplace is rolling out a rewards program with freebies and perks alongside an upcoming fee model shift.

News for Solana Crypto (SOL)