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 class-action lawsuit has been filed claiming that cryptocurrency solana (SOL) is an unregistered security under the Howey test. “The specific facts and circumstances relating to SOL securities support the conclusion that SOL is a security under the Howey test,” the plaintiff argued.

New Lawsuit Claims Solana Is Unregistered Security — ‘Investors Have Suffered Enormous Losses'

Bitcoin

Polygon

A popular crypto analyst is making a prediction for one Ethereum (ETH) rival while updating his outlook on Polygon (MATIC) and Bitcoin (BTC). Pseudonymous crypto trader Altcoin Sherpa tells his 180,000 Twitter followers he sees ETH challenger Solana (SOL) trading between a low of $20, and 200% higher at $60 for several months. “Potential range […] The post Trader Predicts What's Next for a Leading Ethereum Rival Solana, Updates Stance on Polygon and Bitcoin appeared first on The Daily Hodl.

Trader Predicts What's Next for a Leading Ethereum Rival Solana, Updates Stance on Polygon and Bitcoin

A class-action lawsuit has been filed against layer-1 blockchain Solana (SOL) on the grounds that the smart contract platform is not as decentralized as advertised. In a court filing dated July 1st, Solana investor Mark Young alleges SOL cannot fit the definition of “decentralized” when nearly half of its supply is in possession of people […] The post Investors File Lawsuit Against Solana Labs Alleging SOL Is ‘Highly Centralized' Unregistered Security appeared first on The Daily Hodl.

Investors File Lawsuit Against Solana Labs Alleging SOL Is ‘Highly Centralized' Unregistered Security

Cosmos

NEAR Protocol

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 Liquid-staking derivatives are set to arrive in the Cosmos ecosystem, adding to the continued growth of this class of DeFi protocols over the past year Exploits continue to plague protocols throughout L1 ecosystems. On Solana, MEV attacks are becoming a growing concern

Layer by Layer Issue 38: Cosmos, NEAR and Solana

Blockchain phones are back. Here's how crypto and tech firms are approaching their latest mobile Web3 projects.

How Solana, Polygon and HTC's New Crypto Phones Compare

DappRadar says Solana (SOL) could potentially pass Ethereum (ETH) as the leading blockchain for non-fungible tokens (NFTs). In a new report, DappRadar finds Solana is performing well in the NFT space despite the latest widespread crypto market downturn. Trading volume for SOL increased amid declines seen in other blockchains, including leading altcoin Ethereum. DappRadar finds […] The post Solana (SOL) Emerging As Viable Threat to Ethereum in NFT Markets: DappRadar Report appeared first on The Daily Hodl.

Solana (SOL) Emerging As Viable Threat to Ethereum in NFT Markets: DappRadar Report

Chainlink

A popular analyst is diagnosing the state of four leading crypto assets as the markets approach the weekend on cautious footing. Pseudonymous crypto analyst Altcoin Sherpa tells his 180,000 Twitter followers that if Bitcoin (BTC) can recapture the $20,300 area, then he'll be eyeing $21,600 as the next leg up. “Still need to see a […] The post Here's What's Next for Bitcoin, Chainlink and One Ethereum Competitor, According to Top Trader appeared first on The Daily Hodl.

Here's What's Next for Bitcoin, Chainlink and One Ethereum Competitor, According to Top Trader

Solana's SOL token is an unregistered security whose insiders have benefitted while retail suffered, the suit alleged.

Solana Labs, Multicoin Accused of Violating Securities Law by SOL Investor

Ethereum

OpenSea is making moves, but so are some key and emerging rivals. DappRadar sees a battle for NFT marketplace superiority on the horizon.

Ethereum, Solana NFT Marketplace 'Wars' Heat Up as Firms Acquire Startups

Tech startup Nothing has tapped the Polygon network to offer NFTs on its new smartphone Nothing Phone (1)

Polygon Joins Solana in Bringing Web3 to Smartphones

A popular analyst is setting price targets for Ethereum challenger Solana (SOL) while forecasting what's next for ETH and STEPN (GMT). Pseudonymous analyst Altcoin Sherpa tells his 179,900 Twitter followers he's using the Fibonacci retracement tool to plot out support and resistance levels for Solana, noting things may go south for the smart contract platform […] The post Top Crypto Trader Predicts Rally for Ethereum Rival Solana (SOL), Updates Outlook on ETH and STEPN (GMT) appeared first on The Daily Hodl.

Top Crypto Trader Predicts Rally for Ethereum Rival Solana (SOL), Updates Outlook on ETH and STEPN (GMT)

Polkadot

A robot that's earned a reputation for outpacing the crypto markets is revealing its latest portfolio allocations to start the new week. Every week the Real Vision Bot conducts surveys in order to create algorithmic portfolio assessments consistent with a “hive mind” consensus. The bot's freshest data finds that traders are flocking to digital assets […] The post Algorithm Known for Outperforming Bitcoin and Crypto Reveals Blue-Chip Altcoin Allocation for The Week appeared first on The Daily Hodl.

Algorithm Known for Outperforming Bitcoin and Crypto Reveals Blue-Chip Altcoin Allocation for The Week

Cardano

A popular crypto analyst known for timely altcoin calls says that some wild volatility could be in play for Ethereum challenger Cardano (ADA). Pentoshi also has his eye on another Ethereum (ETH) rival for potential opportunities.

Crypto Analyst Predicts Wild Cardano (ADA) Price Swing, Sets Downward Target for One Ethereum Rival

Crema Finance temporarily suspended services this morning because of a hack that drained an undisclosed amount of funds. The post Crema Finance suspends liquidity protocol on Solana amid probe of hack  appeared first on The Block.

Crema Finance suspends liquidity protocol on Solana amid probe of hack 

A popular analyst who accurately predicted the recent market downturn is setting new price targets for four major crypto assets. Pseudonymous crypto trader Capo, who back in March sounded the alarm that several top cryptos were likely to fall by 50%, now tells his 423,200 Twitter followers what's next for Bitcoin (BTC), Ethereum (ETH), Cardano […] The post Crypto Trader Reveals Targets for Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and Solana (SOL) appeared first on The Daily Hodl.

Crypto Trader Reveals Targets for Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and Solana (SOL)

The U.S. Department of Justice (DOJ) is pressing charges against a Solana (SOL) non-fungible token (NFT) developer who allegedly pulled the rug on investors. According to a new press release, the DOJ is charging Vietnamese national Le Anh Tuan with one count of conspiracy to commit wire fraud and one count of conspiracy to commit […]

DOJ Announces Charges Against Solana-Based NFT Developer for Alleged Rug Pull Scheme

Trading will be restricted to dummy collateral as the developers stress-test their network.

Hxro Begins Testing Crypto Derivatives Trading Platform on Solana

In this episode of The Scoop, Solana Labs co-founder and CEO Anatoly Yakovenko chats about the company's new mobile division. The post The Solana phone is the leap that Google and Apple won't take, says Anatoly Yakovenko appeared first on The Block.

The Solana phone is the leap that Google and Apple won't take, says Anatoly Yakovenko

Traders can now access in-depth data on Solana's rising NFT projects, which had previously only been available for users on Ethereum.

What's Hot on Solana? Nansen Adds Analytics Data for 53,000 NFT Collections

The platform's data comes from the ecosystem's two most popular marketplaces, Magic Eden and OpenSea.

Nansen to Track Solana NFT Data Amid Boom in Minting, Trading Activity

Coinbase deals with the node set-up process and other technical details, making staking more accessible to everyday retail users. The post Coinbase adds support for staking Solana appeared first on The Block.

Coinbase adds support for staking Solana

Coinbase users can now earn passive yield as high as 3.85% by holding their SOL in the Solana network through their Coinbase accounts.

Coinbase Adds Solana Staking Rewards—With Higher Return Than Ethereum

One crypto veteran says Solana (SOL) is currently going through a similar phase to what Ethereum (ETH) experienced four years ago. Crypto venture fund Variant co-founder Spencer Noon tells his 112,100 Twitter followers Solana's current issues won't matter a few years down the road. “It feels to me like SOL is going through a similar […] The post Crypto Venture Capitalist Says Solana (SOL) Going Through Same Bear Phase As Ethereum (ETH) in 2018 appeared first on The Daily Hodl.

Crypto Venture Capitalist Says Solana (SOL) Going Through Same Bear Phase As Ethereum (ETH) in 2018

Avalanche

SOL was down by as much as 14% on Wednesday, as prices fell close to a one-week low earlier today. In addition to this, AVAX saw a similar decline, as the token dropped for a fourth consecutive session, with prices moving below $20. Solana (SOL) SOL was lower in today's session, as prices fell for […]

Biggest Movers: AVAX, SOL Slip by 14% on Wednesday, as Prices Near 1-Week Low

Bram Cohen's storage-based crypto network Chia just launched NFTs on its mainnet. Can a robust market sprout from the new standard?

News for Solana Crypto (SOL)