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

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Solana-Based Music Marketplace Launches With Aspirations to Tokenize Royalties

Cardano

Polkadot

These days, it is impossible to go anywhere on social media where the cryptocurrency community gathers and not hear about certain trending coins. No longer is the conversation only about Bitcoin, Ethereum, and a select few others, the opportunities around crypto are much more plentiful.

PrimeXBT Expands Digital Asset Offering With Solana, Cardano, Polkadot, And More

Cosmos

Terra

Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding Layer 1 blockchain foundations continue to release incentive programs to attract users and developers, with a flurry of launches in the past month Rising demand (or lack of it) from users entering new ecosystems is proving to pose unique challenges for both layer 1 and layer 2 chains This week, we take a look at Solana, Binance Smart Chain, Cosmos, Terra, and Arweave

Layer by Layer Issue 7: Update on Solana, Binance Smart Chain, Cosmos, Terra, and Arweave

Ethereum

The blockchain network Solana had issues processing blocks on September 14 and according to a status report on September 15 at 2:01 a.m. (EST), the Solana validator community “successfully completed a restart of Mainnet Beta.” Solana Validators Restart Mainnet Beta Solana is now a member of the club of blockchains that have stalled for several […]

Solana Restarts Mainnet, SOL Users Complain, Dev Says Network Stall Not Similar to ETH in 2016

High-performance blockchain Solana (SOL) is now fully operational after recovering from a network instability problem. The Solana Foundation says in a tweet that the network was upgraded and restarted successfully hours after the issue was first reported. “The Solana validator community successfully completed a restart of Mainnet Beta after an upgrade to 1.6.25. Dapps, block […] The post Solana Network Back Up and Running Hours After Suffering Major Outage appeared first on The Daily Hodl.

Solana Network Back Up and Running Hours After Suffering Major Outage

After shutting down Tuesday due to transaction overload, Solana is gradually coming back online after validators restarted it.

Solana Sputters Back to Life Following Downtime, Network Restart

The Solana blockchain is back online after an hours-long outage. The post Solana blockchain validators restart network after transaction stoppage appeared first on The Block.

Solana blockchain validators restart network after transaction stoppage

Plus, an extremely rare CryptoPunk is being sold at a Christie's auction.

CoinMarketCap Daily, Sept. 15: Is SOL's Bull Run Over?

The outage has derailed the dramatic bull run that SOL had embarked on.

Solana Mainnet Back Online After High-Profile Outage, But SOL Suffers

High-speed blockchain Solana's (CRYPTO: SOL) network suffered a major outage on Tuesday, sending the value of its native token plummeting by more than 15% in under 12 hours.

Why The Solana Network Crashed On Tuesday

Bitcoin

High-performance blockchain Solana (SOL) is growing in popularity among cryptocurrency investors, threatening more established crypto asset investment products. According to digital asset management firm CoinShares, the seventh-largest cryptocurrency by market cap saw more inflows than Bitcoin and Ethereum during the week ending September 13th. During the period when the cryptocurrency market largely saw declines, Solana […] The post Solana Inflows Dwarf Bitcoin Investments As Institutions Diversify to Other Crypto Assets appeared first on The Daily Hodl.

Solana Inflows Dwarf Bitcoin Investments As Institutions Diversify to Other Crypto Assets

Dogecoin

Major coins like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) traded higher on Tuesday night as the global cryptocurrency market cap rose 3.75% to $2.13 trillion.

Bitcoin, Ethereum, Dogecoin Shoot Up While Solana Falls On Network Crash

Solana's sol token, which had been following a downward trend recently, fell to almost $140 this evening, down from more than $170 this morning. The digital asset pushed lower after Solana's network was overwhelmed with transactions and went down. Where will it go next?

Solana Suffers Sharp Volatility After Network Becomes Flooded With Transactions

SOL is sinking amid extended downtime, although the wider market is up over the last 24 hours.

Solana's Price Crashes 13% as Network Outage Continues

According to reports on social media, crypto forums, onchain metrics, and the Solana Status Twitter account indicate that Solana's blockchain has stalled. Solana mainnet-beta suffered a four-hour downtime and is still down after a technical glitch. Solana's Network Stalls In recent times, solana (SOL) joined the top ten crypto assets by market valuation and today, […]

Solana Block Production Stalls for Hours, SOL Holders Unable to Transact, Validators Deploy a Fix

Validators may have to restart the recently-rising blockchain network after it was overwhelmed by transactions.

Solana Has Been Down for Hours Due to ‘Resource Exhaustion'

Transaction blocks appear to be not processing on the Solana blockchain, according to available data and complaints from the network's users. The post Solana experiences transaction stoppage as developers report ‘intermittent instability' appeared first on The Block.

Solana experiences transaction stoppage as developers report ‘intermittent instability'

Institutional interest in Solana (CRYPTO: SOL) remains high, as SOL investment products saw close to $50 million in inflows last week.

Solana Sees Nearly $50M In Weekly Institutional Inflows

A widely followed crypto strategist and trader says Solana and two other altcoins are poised to print new all-time highs while predicting the bottom for two other crypto assets. Pseudonymous trader Smart Contracter predicts that smart contract platform Solana is gearing up for another explosive price surge en route to a new all-time high. “SOL […] The post Crypto Analyst Predicts Fresh All-Time Highs for Solana and Two Altcoins, Says Bottom Is In for 2 Other Crypto Assets appeared first on The Daily Hodl.

Crypto Analyst Predicts Fresh All-Time Highs for Solana and Two Altcoins, Says Bottom Is In for 2 Other Crypto Assets

Overall trading volume has dropped considerably amid a down crypto market, but top-dollar NFTs and new projects are still selling.

Ethereum, Solana NFT Market Cools Off Following Late Summer Surge

Solana's (CRYPTO: SOL) price has decreased 9.89% over the past 24 hours to $158.72. This is contrary to the coins performance over the past week where it has experienced an up-trend of 1.0%, moving from $157.41 to its current price.

Cryptocurrency Solana Falls More Than 9% In 24 hours

Ahead of the latest bitcoin and crypto sell-off, billionaire investor Leon Cooperman warned potential crypto investors to "be very careful" with bitcoin—adding he doesn't think it "makes a great deal of sense"...

Crypto Price Crash: Billionaire Investor Warns ‘Be Very Careful' As Bitcoin, Ethereum, Cardano, Solana, XRP And BNB Fall Sharply

Following the massive success of the Bored Ape Yacht Club NFT collection on the Ethereum (CRYPTO: ETH) blockchain, a new NFT collection on the competing Solana blockchain called the Degenerate Ape Academy is quickly gaining popularity.

Degenerate Ape NFTs On Solana Blockchain Selling For Millions

Solana-based NFTs—which look a lot like the Ethereum-based collections—are selling for big money.

Spin-Off Bored Apes and Pudgy Penguins Are Spreading Fast on Solana

The sale is a record for the layer-1 rival to Ethereum.

News for Solana Crypto (SOL)