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 company also raised $5.5 million in a funding round co-led by Republic Capital.

Zebec Protocol Launches on Solana Offering Flexible Payroll

The companies are aiming to expand play-to-earn gaming worldwide.

Solana-Based GameFi Title Genopets to Partner With Yield Guild Games

Brave, the company behind the Brave browser, has partnered with Solana to provide support for the blockchain directly from its browser. According to a press release, the Brave browser will now default to Solana for cross-chain and decentralized app support. Brave users, that are now in the millions, will have access to a Solana wallet […]

Brave Browser to Integrate Solana Support

Alexis Ohanian, the co-founder of Reddit, told conference attendees on Tuesday that he has partnered with Solana Ventures to further the growth of decentralized social media projects on the Solana (CRYPTO: SOL) blockchain.

Reddit Co-Founder And Solana Ventures Invest $100M To Build Social Media On Solana

At the Breakpoint conference in Lisbon, Yakovenko told Decrypt that the role of NFTs in crypto has now become crystal clear.

NFTs Capture ‘Deep, Social Component' of Crypto: Solana's Anatoly Yakovenko

Over the past 24 hours, Solana's (CRYPTO: SOL) price has fallen 3.44% to $241.28. This is opposite to its positive trend over the past week where it has experienced a 14.0% gain, moving from $212.21 to its current price.

Solana Down More Than 3% Within 24 hours

The venture firm of U.S. investor Alexis Ohanian, co-founder of social media site Reddit, has teamed up with the venture arm of the Solana Labs blockchain for a $100 million investment initiative in decentralized social projects, both firms said on Tuesday at a conference in Lisbon.

Reddit co-founder, Solana venture team up on $100 mln blockchain investment initiative

With OddKey, the collaborators aim to recreate the Image Comics vibe of nearly 30 years ago with Spawn NFTs and more.

Todd McFarlane, Steve Aoki Launch Creator-Focused Solana NFT Marketplace

Reddit co-founder Alexis Ohanian will be investing in decentralized social media using the Solana blockchain. The post Reddit co-founder to invest $50 million in social media on Solana appeared first on The Block.

Reddit co-founder to invest $50 million in social media on Solana

Reddit and Solana's founders have teamed up to announce a $50 million initiative for Web 3.0 social media technology.

Reddit Co-Founder and Solana Ventures Team On $50M Web 3 Social Media Initiative

Seen as a key tool for “smart money” NFT flips on Ethereum, Nansen will soon offer insight into the rising Solana ecosystem.

Nansen to Add Solana to Popular NFT, DeFi Analytics Platform

Solana will be Nansen's first non-EVM chain when it joins the platform in early 2022.

Nansen to Bring Crypto Intelligence Tools to Solana Early Next Year

Phantom is launching a wallet app; Solflare's is already live. Both projects see mobile as critical to growth.

Solana Wallets Phantom, Solflare Eye Mobile for Growth

The Phantom wallet is a popular way for Solana traders to navigate DeFi. It says a mobile version is coming soon.

Phantom Wallet Preps Mobile Launch After Reaching 1.2 Million Users on Solana

Ethereum

Neon Labs has raised funds to continue building out Neon EVM, which allows any Ethereum app to be seamlessly ported to Solana.

Developers Behind Ethereum-Solana Bridge Raise $40M in Token Sale

Neon Labs, which is building a Solana EVM, has raised $40 million in a private token sale round. The post Neon Labs, developer of Ethereum virtual machine on Solana, raises $40 million appeared first on The Block.

Neon Labs, developer of Ethereum virtual machine on Solana, raises $40 million

SOL, the native cryptocurrency that runs the Solana blockchain, has again overtaken the industry's largest stablecoin, Tether, for market cap.

Solana Flips Tether Again to Reclaim Fourth Largest Cryptocurrency

The Ethereum-compatible environment could lead to implementations of popular DeFi protocols on Solana.

Neon Labs Raises $40M to Bring EVM Functionality to Solana

Alexis Ohanian's Seven Seven Six thinks Solana can support social at scale.

Reddit Co-Founder, Solana Ventures Launch $50M Fund for Web 3 Social Media

Terra

Macro guru Raoul Pal says smart contract platform Solana (SOL) and stablecoin-focused blockchain payment system Terra (LUNA) could be following the same parabolic price trajectory of Ethereum in 2016. In a new interview on Real Vision, Pal says that because of the cyclical nature of network effects, Ethereum is currently mirroring Bitcoin's 2017 bull cycle. […] The post Raoul Pal Says Solana and Terra Following Ethereum's Explosive 2016 Rally – Here's Why appeared first on The Daily Hodl.

Raoul Pal Says Solana and Terra Following Ethereum's Explosive 2016 Rally – Here's Why

Brave and Solana Labs today announced a joint integration which will see the privacy browser add support for Solana wallets early next year.

Privacy Browser Brave Expands Beyond Ethereum to Solana

Bots are a growing part of the decentralized experience. But they can also manipulate markets and cause massive headaches for blockchain developers.

To Combat Solana's Bot Problem, Civic Unveils Free Digital ID for NFTs

The US-based crypto exchange Kraken is analyzing the short-term potential of smart contract platforms Ethereum and Solana. Kraken's October market recap notes that Solana (SOL) is riding a fresh wave of support from institutional investors. “After climbing into the top five crypto assets by market cap, SOL has continued to attract increasingly greater attention from […] The post Kraken Details Massive Short-Term Price Target for Solana, Analyzes Ethereum's Dominance of Crypto Market appeared first on The Daily Hodl.

Kraken Details Massive Short-Term Price Target for Solana, Analyzes Ethereum's Dominance of Crypto Market

Solana Labs CEO Anatoly Yakovenko said that Solana's biggest challenge was getting people to run the network. The post Solana Labs CEO: ‘Part of our culture is to eat glass' appeared first on The Block.

Solana Labs CEO: ‘Part of our culture is to eat glass'

Bitcoin

A popular crypto strategist and trader says Bitcoin and Ethereum continue to flash signs of strength but highlights that one large-cap altcoin is strikingly stronger than the two largest crypto assets. The pseudonymous analyst known in the industry as The Crypto Dog tells his 666,900 Twitter followers that Bitcoin (BTC) looks bullish as it continues […] The post One Red-Hot Altcoin Looks Strikingly Stronger Than Both Bitcoin and Ethereum, According to Popular Crypto Analyst” appeared first on The Daily Hodl.

News for Solana Crypto (SOL)