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

A bug in the token lending contract of the Solana Program Library (SPL) was recently found and fixed by Neodyme, a security auditing firm. The bug, that was discovered a couple of months back, could have affected several decentralized finance protocols holding more than $2 billion in total value locked (TVL). Their team identified the […]

Bug in Solana Token Lending Contract Fixed, More Than $2 Billion Made Exploitable

Cardano

Bitcoin

Ethereum

Terra

Bitcoin and cryptocurrency prices have somewhat rebounded after a massive sell-off this week...

$300 Billion Crypto Price Crash: What Next For Bitcoin, Ethereum, BNB, Solana, Cardano, XRP And Terra's Luna

Over the past 24 hours, Solana's (CRYPTO: SOL) price has fallen 18.57% to $192.58. This continues its negative trend over the past week where it has experienced a 5.0% loss, moving from $197.87 to its current price.

Solana Decreases More Than 18% Within 24 hours

Avalanche

Prominent crypto analyst Nicholas Merten is taking a look at two layer-1 digital assets stacked up against the Ethereum (ETH) trading pair. In a new strategy session, the host of DataDash tells his 486,000 YouTube subscribers where he thinks smart contract platforms Avalanche (AVAX) and Solana (SOL) are headed. According to Merten, it is better […] The post Here's What's Next for Ethereum Rivals Solana and Avalanche, According to Analyst Nicholas Merten appeared first on The Daily Hodl.

Here's What's Next for Ethereum Rivals Solana and Avalanche, According to Analyst Nicholas Merten

A bug that impacted projects looking after $1.7 billion in funds was publicly disclosed for six months before it was fixed. The post Solana library bug could have seen attackers stealing $27 million an hour appeared first on The Block.

Solana library bug could have seen attackers stealing $27 million an hour

Bitcoin and cryptocurrency prices have fallen sharply, wiping around $300 billion worth of value from the combined crypto market in just two days...

$300 Billion Bitcoin And Crypto Price Crash After Stark Fed Warning—Ethereum, BNB, Solana, Cardano And XRP In Free Fall

The host of the popular crypto channel Coin Bureau is explaining why he thinks one Ethereum (ETH) competitor and smart contract platform could explode in the coming months. Pseudonymous crypto analyst Guy tells his 1.7 million YouTube subscribers that Solana (SOL) can potentially hit “an extremely bullish target that borders on fantasy.” Smart contract platform Solana […] The post Crypto's Top-Ranking Ethereum Competitor Could Explode to Five Times Its Current Value, According to Coin Bureau appeared first on The Daily Hodl.

Crypto's Top-Ranking Ethereum Competitor Could Explode to Five Times Its Current Value, According to Coin Bureau

Solice is bringing VR to the mix in a bid to compete with Decentraland and The Sandbox.

Three Arrows Leads $4.3M Round for Solana-Based Metaverse Project Solice

Polygon

Ethereum (CRYPTO: ETH) charted record-outperformance against Bitcoin (CRYPTO: BTC) recently, but Polygon (CRYPTO: MATIC) and Solana

Beyond-ETH Rally: Polygon And Solana Strike Big Gains Following Ethereum's Outperformance Of Bitcoin

Most of the cash invested in metaverse land is being spent on Ethereum-based projects—but investors are increasingly looking at Solana as well.

Metaverse Land Sales on Ethereum, Solana Top $100 Million in One Week

Solana (CRYPTO: SOL) is taking off Wednesday, pushing higher while Ethereum (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC) are falling lower.

Solana Defies The Market And Pushes Higher While Ethereum And Bitcoin Continue Fall

Over the past 24 hours, Solana's (CRYPTO: SOL) price has risen 6.3% to $228.08. This continues its positive trend over the past week where it has experienced a 8.0% gain, moving from $208.27 to its current price.

Cryptocurrency Solana Up More Than 6% In 24 hours

Grayscale Investments has launched a solana trust. The company now has nearly $54 billion in total assets under management. The new trust, which is the company's 16th crypto investment product, will solely invest in solana (SOL). The CEO of Grayscale said that investors are increasingly “diversifying their exposure beyond digital assets like bitcoin and ethereum.” […]

Grayscale Launches Solana Trust — Company Now Manages $54 Billion Across 16 Crypto Investment Funds

The world's largest digital asset manager just announced the launch of a single-asset investment product exposing its holders to Solana (SOL) – and support for more Ethereum competitors may be imminent. In a press release, Grayscale announces the new Solana Trust, which will join its other 13 single-asset crypto investment products. “The Trust is solely […] The post Crypto Giant Grayscale Exploring Two Ethereum Rivals After Launching Support for Solana appeared first on The Daily Hodl.

Crypto Giant Grayscale Exploring Two Ethereum Rivals After Launching Support for Solana

Grayscale Investments — the firm behind the world's biggest closed-end Bitcoin (CRYPTO: BTC) fund Grayscale Bitcoin Trust (OTC: GBTC) — launched a Solana

Solana Trust by Grayscale Investments Launches With $9.5M Under Management

Quick Take Of the $10.7 billion locked in Solana's top 10 projects, around $5 billion sits with closed-source projects.  But Solana's founders are pushing for projects to open up, and the message seems to be getting through.  

A surprising number of Solana projects are closed-source — but now the tide may be turning

The Grayscale Solana Trust is the latest altcoin offering from the firm, which debuted Chainlink, Decentraland and Basic Attention Token products this year.

Grayscale Solana Trust Launches With $9.5M Under Management

Crypto asset management firm Grayscale has launched a Solana trust product for accredited investors via price placement. The post Grayscale launches Solana trust product appeared first on The Block.

Grayscale launches Solana trust product

The Grayscale Solana Trust is now available to eligible individual and institutional accredited investors.

Grayscale Launches New Trust Dedicated to Solana

Hxro Network, a Solana-based derivatives trading platform, has raised $34 million in a token round. The post Solana-based derivatives network Hxro raises $34 million in token round appeared first on The Block.

Solana-based derivatives network Hxro raises $34 million in token round

TradFi stalwart Susquehanna International Group and DeFi upstart Jump Crypto co-led the network's latest token round.

Hxro Raises $34M on Promise of Derivatives Trading Infrastructure for Solana

Digital asset investment giant Grayscale is launching a new product offering exposure to one of the hottest digital assets today, Solana.

Grayscale Investments Launches Trust With Exposure To Ethereum Competitor Solana

Billionaire crypto investor Mike Novogratz has said Powell could trigger a bitcoin and crypto market meltdown as he acts to curb run-away inflation that's leapped to a 30-year high...

Crypto Price Prediction: Serious Fed Warning Issued Over Bitcoin, Ethereum, BNB, Solana, Cardano And XRP

Polkadot

Leading digital asset manager CoinShares says institutional investors have a strong appetite for Bitcoin (BTC) and three leading smart contract platforms. According to the firm, the overall crypto market correction has left investors hungry for more. “Digital asset investment products saw inflows of US$306m last week suggesting [a] continued appetite for digital assets.” As usual, […] The post Bitcoin, Ethereum and Two Smart Contract Competitors Are the Winners Among Institutional Investors, According to Crypto Asset Manager CoinShares appeared first on The Daily Hodl.

Bitcoin, Ethereum and Two Smart Contract Competitors Are the Winners Among Institutional Investors, According to Crypto Asset Manager CoinShares

The high costs and low return of running RPC endpoints has led to a shortage, forcing projects to pay massive premiums to tap into Solana RPC nodes.

News for Solana Crypto (SOL)