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

Trading in November is about 88% lower than January as overall volume and total NFTs sold both slump even further.

Solana Soars, Flow Falls as NFT Market Declines Further in November

The Open Creator Protocol lets creators of new NFT collections block marketplaces that refuse to honor royalties on OCP-enabled assets.

Magic Eden Launches Solana NFT Tool to Enforce Creator Royalties

Users will now be able to make fiat purchases for tokens such as USDC and SOL via an onramp built inside Orca using Stripe's fiat-to-crypto system.

Solana-Based DEX Orca Partners With Stripe for Fiat Transactions

Ethereum

Polygon

Crypto wallet Phantom is expanding its services to the Ethereum (ETH) and Polygon (MATIC) blockchains, bringing competition to other popular non-custodial wallets like MetaMask. Announcing via Twitter, Phantom says it was founded with the intention of eventually expanding into a multichain existence, starting with the Ethereum network.

MetaMask Meets New Competitor As Crypto Wallet Phantom Expands to Ethereum (ETH) and Polygon (MATIC)

Solana-focused crypto wallet Phantom is tapping Ethereum and Polygon for its expansion plan.

Solana's Top Crypto Wallet Looks to Ethereum, Polygon Next

The popular wallet for the Solana blockchain is expanding to include two rival proof-of-stake blockchains.

Phantom Solana Wallet Adds Support for Ethereum and Polygon

A popular crypto strategist says that Ethereum (ETH) competitor Solana (SOL) is still a viable project despite getting hammered by nearly 96% from its all-time highs.

Ethereum Rival Solana (SOL) Not Dead Yet, According to InvestAnswers – Here's Why

A platform dedicated to tracking Solana's key on-chain metrics says hundreds of millions of dollars worth of SOL are now in the hands of Alameda Research liquidators. Solana Compass reveals that Sam Bankman-Fried's bankrupt trading firm Alameda Research previously controlled 48,636,772 SOL tokens worth over $643 million at time of writing.

Over $643,000,000 in Solana (SOL) Now Controlled by Liquidators as Part of Alameda Research Bankrutpcy Process: On-Chain Data

At Breakpoint last year, Solana Labs announced two funds totalling $250 million. Yet only a small portion has actually been deployed. The post Solana's flagship gaming and social media funds have been only partially deployed appeared first on The Block.

Solana's flagship gaming and social media funds have been only partially deployed

Chainlink

Chainlink rallied to a 12-day high earlier in today's session, as the token neared the $7.00 level. The move comes as prices rose for a fourth straight session, climbing by over 5% on Thursday. Solana has been another notable gainer, as prices closed in on a ten-day high.

Biggest Movers: LINK Nears 2-Week High, SOL Extends Recent Gains

Crypto analytics platform Santiment says that the heavily bearish sentiment revolving around Solana (SOL) could push the price of the Ethereum (ETH) competitor up. The market intelligence firm says that the fear, uncertainty and doubt (FUD) surrounding Solana could trigger the smart contract platform to rally until the heavily bearish sentiment reduces.

Top Ethereum Rival Is Now Flashing Bullish Signal, According to Crypto Analytics Firm Santiment

A closely followed crypto analyst is warning Solana (SOL) holders that the smart contract platform's downtrend is likely far from over. In a new strategy session, pseudonymous analyst Cheds tells his 50,200 YouTube subscribers that he's bearish on Ethereum (ETH) rival Solana and that he plans to short SOL should it bounce to $15.

Popular Analyst Warns Steep Correction in Sight for Solana, Says SOL Has Ways To Go – Here's His Target

The largest marketplace for non-fungible tokens (NFTs) on the Solana (SOL) blockchain says it is integrating with blockchain scaling solution Polygon (MATIC).

Top Solana (SOL) NFT Marketplace Announces Extension to Ethereum (ETH) Layer-2 Solution Polygon (MATIC)

Litecoin

Litecoin extended recent gains on Nov. 23, with the token climbing to its highest point since May. The move saw prices climb by nearly 20% in today's session, and comes ahead of this afternoon's Federal Open Market Committee (FOMC) minutes. Solana also surged on Wednesday, moving nearly 20% higher.

Biggest Movers: LTC Moves to 6-Month High, SOL up Nearly 20%

A popular crypto analyst is laying out his predictions for Solana (SOL) and a handful of other altcoins after this month's digital asset market fallout. The pseudonymous trader Altcoin Psycho tells his 10,700 YouTube subscribers that if Bitcoin's (BTC) price stays stable, SOL could jump up to $17 before breaking back down again.

Analyst Predicts Aftermath for Solana, Serum, Sushi and FTT Following Downfall of FTX and Sam Bankman-Fried

Dogecoin

Shiba Inu

The market cap of popular cryptocurrency Solana (CRYPTO: SOL) and meme coin Shiba Inu (CRYPTO: SHIB) has slipped below that of Dogecoin (CRYPTO: DOGE) relative Litecoin (CRYPTO: LTC). What Happened: At the time of writing, LTC was at 13 in terms of market capitalization, while SHIB ranked 14th in the list and SOL was at 16, according to CoinMarketCap's top 100 list of cryptocurrencies.

Solana, Shiba Inu Market Cap Shrinks Below This Dogecoin 'Relative' Amid Chaotic Market Conditions

The one-time Ethereum killer has fallen sharply as the crypto market buckles under the wreckage of FTX.

Solana Market Cap Shrinks Below Litecoin in Protracted Descent

Sam Bankman-Fried offered to buy up all of a trader's Solana for $3. Now FTX is bankrupt, SBF is out of cash, and SOL is sinking fast.

Solana Bear That SBF Dunked On With $3 Offer Gets the Last Laugh

Bitcoin

A popular crypto strategist is setting new potential price targets for Ethereum (ETH) and Solana (SOL) while also giving an update on Bitcoin's (BTC) price action.

Crypto Analyst Gives Price Targets for Ethereum (ETH) and One Its Top Competitors, Updates Bitcoin (BTC) Outlook

Uniswap

Dallas Mavericks owner and investor Mark Cuban on Sunday unfollowed several cryptocurrency-related accounts on Twitter, triggering fears that he might be losing faith in the sector. What Happened: According to BigTechAlert, an account that tracks Twitter accounts of billionaires, Cuban unfollowed accounts of Uniswap, Dapperlabs, Defi Pulse, Solana (CRYPTO: SOL) and MetaMask, among several others.

Mark Cuban Losing Faith In Crypto? 'Shark Tank' Star Unfollows Uniswap, Solana, MetaMask And Others On Twitter

Solana's biggest project, the decentralized exchange Serum, had to carry out an emergency hard fork for fears that private upgrade keys held by FTX were compromised.

Tether Yanks $1B In USDT Off Solana As Blockchain's FTX Ties Cloud Future

Coin Bureau host Guy is sending out a warning that a top Ethereum (ETH) competitor faces more downside risks in the FTX fallout. The Coin Bureau host tells his 2.17 million YouTube subscribers that the collapse of the FTX crypto exchange has made the road ahead for Solana (SOL) difficult.

Leading Ethereum Rival To Plunge by Over 40% Amid FTX Collapse, Predicts Coin Bureau Host

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 The sudden collapse of FTX and Alameda has sent shockwaves throughout crypto, imparting significant capital losses to a wide range of parties including users, developers, investors, and more Among L1s, the Solana ecosystem was impacted most severely by the incident due to early investments from FTX and Alameda, along with the two companies' roles in providing an extensive range of market-making and infrastructural services for the ecosystem Solana now faces a long and uncertain road to recovery, but steady network performance during the recent crisis offers a glimmer of hope that continued technical updates can lay the foundation for user interest and growth once more in the future 

Layer by Layer: Solana Ecosystem Contends with FTX Fallout

Tether, the issuer of the USDT stablecoin, said it was conducting a chain swap to move 1 billion USDT from Solana to Ethereum. The post Tether says it's moving 1 billion USDT from Solana to Ethereum appeared first on The Block.

Tether says it's moving 1 billion USDT from Solana to Ethereum

The chain swap announcement comes as Solana faces difficulties.

News for Solana Crypto (SOL)