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

Grape has raised $1.2 million in a seed round led by Multicoin Capital to keep up with the "monumental" demand for DAOs on Solana, says co-founder.

Grape's Token Sale Took Down Solana—Now It's Raising More Money for Its Army of DAOs

Grape Network, a Solana-based protocol that was involved in the network outage last week, has raised $1.2 million in a seed funding round. The post Solana-based Grape protocol raises $1.2 million in seed funding appeared first on The Block.

Solana-based Grape protocol raises $1.2 million in seed funding

Key contributor Dean Pappas said he didn't mean for his project's public token sale to crash an entire ecosystem. Now VCs are following suit.

Grape Network, the Startup That Broke Solana, Raises $1.8M

The decentralized exchange (dex) platform Orca has announced the platform has raised $18 million in a Series A financing round with Polychain, Placeholder, and Three Arrows co-leading the funding. The dex platform is a Solana-based project that aims to be the “go-to swap” platform for Solana. Solana's Orca Gets an $18 Million Capital Raise On […]

Solana-Powered Defi Platform Orca Raises $18 Million — AMM Commands Over $300 Million TVL

Orca will use the fresh funding injection to continue developing its automated market maker (AMM).

Solana-Based DEX Orca Raises $18M Series A Funding

Orca, a Solana-based decentralized cryptocurrency exchange, has raised $18 million in a Series A funding round. The post Solana-based DEX Orca raises $18 million from Three Arrows Capital and others appeared first on The Block.

Solana-based DEX Orca raises $18 million from Three Arrows Capital and others

Polychain, Placeholder, and Three Arrows Capital led a Series A financing round for Solana-based automated market maker Orca.

Decentralized Exchange on Solana Raises $18M in Series A Funding

Bitcoin

Ethereum

Tampa Bay quarterback Tom Brady said he'd “love to request” some payment in cryptocurrency.

Tom Brady Open to Earn Part of Salary in Bitcoin, Ethereum, or Solana

Over the past 24 hours, Solana's (CRYPTO: SOL) price has fallen 10.33% to $129.93. This continues its negative trend over the past week where it has experienced a 14.0% loss, moving from $156.76 to its current price.

Solana Is Down By 10%

A recent DDoS attack on the Solana (CRYPTO: SOL) network hasn't altered its status as the new favorite altcoin among institutional investors.

Solana Investment Products Saw $4.8M Weekly Inflows Despite Last Week's DDoS Attack

Cardano

Investors are turning their attention to the $3.4 billion worth of bitcoin options that expire this Friday—one of the largest options expiries this year...

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Avalanche

Polkadot

Crypto trader and YouTube influencer Aaron Arnold is highlighting his top five altcoins as he predicts the crypto markets are about to go insane. In a new video, Arnold tells his 998,000 YouTube subscribers that he's bullish on decentralized oracle Chainlink. “Chainlink is kind of a blue-chip in what it does. No other oracle crypto […] The post These Five Altcoins Are About To Go ‘Insane,' According to Crypto Trader Aaron Arnold appeared first on The Daily Hodl.

These Five Altcoins Are About To Go ‘Insane,' According to Crypto Trader Aaron Arnold

Institutional investors are unphased by Solana's recent network outage as they continue to pour capital into SOL, according to crypto asset management firm CoinShares. Last week, the smart contract platform Solana (SOL) suffered a distributed denial-of-service (DDoS) attack that caused the network to go offline. However, Solana developers managed to restart Solana's mainnet and restore […] The post Solana Investors Shrug Off Network Outage Last Week As SOL Sees Another Wave of Institutional Capital: CoinShares appeared first on The Daily Hodl.

Solana Investors Shrug Off Network Outage Last Week As SOL Sees Another Wave of Institutional Capital: CoinShares

After initially pegging “resource exhaustion” as the cause, Solana gets more pointed in its initial postmortem of last week's network outage.

Solana Blames ‘Denial of Service Attack' for Last Week's Downtime

Global ETF giant VanEck plans to offer a Solana (CRYPTO: SOL) exchange-traded (ETF) fund in Germany.

VanEck To Launch A Solana ETF In Germany: Report

Dogecoin

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CryptoCodex: Bitcoin And Crypto Price Meltdown Sends Ethereum, Cardano, Solana, BNB, XRP And Dogecoin Sharply Lower

Popular crypto analyst Michaël van de Poppe is bullish on Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Cardano (CRYPTO: ADA) and Solana CRYPTO: SOL) and believes they are ready for an “explosive” fourth quarter.

Bitcoin, Ethereum And These 2 Cryptos Are Set For 'Explosive' 4th Quarter, Says Popular Analyst Michaël van de Poppe

ECB president Christine Lagarde has warned cryptocurrencies aren't currencies and should be treated as "highly speculative" and "suspicious"...

ECB President Issued A ‘Suspicious' Warning Over Bitcoin, Ethereum, Cardano, BNB, XRP, Solana, And Dogecoin After Huge Price Explosion

On September 17, 2021, Solana protocol fans were introduced to the launch of the Wormhole Network's ethereum – solana bridge, which means assets between each chain can be intermingled. The launch announcement notes that Saber, the Solana-fueled protocol with more than $4 billion total-value locked (TVL), will support migration from Wormhole V1 to V2. Wormhole […]

Wormhole Network Launches Ethereum Solana Bridge, Solana AMM Saber Surpasses $4 Billion TVL

Decentralized finance is taking off on Solana. Here's what that looks like.

Solana's DeFi Projects are Raising Millions of Dollars

Solana's outage was bad for business. Was it just a momentary stumble, or a sign the red-hot Ethereum challenger isn't ready for the big leagues?

Solana's Growing Pains

The so-called ‘Ethereum killers' have had very different weeks, but both are surging.

Solana and Avalanche Lead Market-Wide Rally

The price of Solana's sol token tanked more than 35% below last week's all-time high.

Solana's Market Value Plunges $20 Billion After Outage—Is This Good For Ethereum?

There's a new rival to Ethereum NFTs, and no, you can't use MetaMask. Here's a quick primer to buying NFTs on Solana.

How to Buy Solana NFTs With Phantom Wallet

Over the past 24 hours, Solana's (CRYPTO: SOL) price has fallen 10.23% to $139.51. This continues its negative trend over the past week where it has experienced a 21.0% loss, moving from $178.46 to its current price.

News for Solana Crypto (SOL)