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

XRP and SOL led the charge in overnight trading, driving the CoinDesk 20 Index 1.3% higher.

CoinDesk 20 Performance Update: XRP and SOL Outperform as Index Climbs 1.3%

Solana's native token, SOL, experienced a notable 16% surge between July 25 and July 29, reaching a four-month high of $193.92.

SOL Surges, Faces Resistance as Market Analyzes Sustainability

The price of Solana (SOL) has risen steadily and has broken through resistance at $185. The breakout came after seven days of volatility below the resistance level.

Solana Slides Towards The Breakthrough Level Of $185

Bitcoin

"Over the next 10, 15 years, for sure, the United States will have some Bitcoin on its balance sheet or kind of in a strategic stockpile. I think the question really just becomes, how aggressive are we in that?

Anthony Pompliano: Bitcoin Will Be on U.S. Balance Sheet in 'Next 10, 15 Years' and Investing in Solana for Less Than a Dollar

Ethereum

Solana's decentralized exchanges have achieved a significant milestone, with the SOL:ETH DEX volume ratio reaching an all-time high of 136%.

Solana's DEX ecosystem may be outpacing Ethereum's in terms of trading activity

Dogecoin

The internet's love affair with Shiba Inu (CRYPTO: SHIB) dogs and cryptocurrencies has taken a bizarre new turn with the launch of Neiro (CRYPTO: NEIRO). What Happened: The recent announcement of a new Shiba Inu puppy, Neiro (CRYPTO: NEIRO), by the owner of the original Dogecoin (CRYPTO: DOGE) meme coin dog, Kabosu, has sparked a frenzy of token creation on the Solana (CRYPTO: SOL) blockchain.

Dogecoin Owner's New Shiba Inu Dog 'Neiro' Sparks Multi-Million Meme Coin Madness On Solana, Ethereum

The amended complaint would delay the court's need to rule on whether SOL, MATIC, ADA and other "third party crypto" assets are securities.

SEC Might Shelve Allegation That Solana Is a Security in Binance Lawsuit

The U.S. SEC may be dropping it's charges against so-called third-party tokens such as Solana and Matic which have been part of its case against Binance, according to a court filing early Tuesday morning.

SEC Intends to Amend Complaint Against Third Party Tokens (Like SOL) in Binance Case

“It's going to be extremely volatile this week, so I will not be surprised to see BTC price get another 10% drop/pump,” one analyst noted.

Bitcoin Slides to $66K in Wake of Silk Road BTC Movements, Solana's SOL Leads Majors Losses

Solana has outpaced Ethereum in weekly total fees for the first time during the week of July 22.

Solana Surpasses Ethereum in Weekly Revenue Amid Memecoin Frenzy

A closely followed crypto strategist thinks that one large-cap layer-1 altcoin will outperform most digital assets this cycle. Pseudonymous analyst Inmortal tells his 214,500 followers on the social media platform X that he has his eye on Solana (SOL). “Solana is the fastest horse in this cycle. It will keep outperforming BTC and ETH.

Crypto Trader Says One Ethereum Rival Is the Fastest Horse This Cycle, Updates Outlook on FLOKI

After launching in May, supply of PYUSD on Solana has nearly caught up with the supply of PYUSD on Ethereum.

Solana-based PayPal stablecoin supply closes gap on Ethereum PYUSD

Solana (CRYPTO: SOL) based meme coin Neiro (CRYPTO: NEIRO) has found itself at the center of a brewing controversy, as its developer appears to have made a swift and substantial profit. What Happened: According to on-chain analyst Lookonchain, the developer behind Neiro raked in $2.85 million after converting 68 million Neiro tokens into SOL.

Dogecoin Owner's New Dog Neiro Gets Memed, Developer Turns 3 SOL Into $2.85M In Suspected Foul Play

Billy was abandoned by his dev who deleted all social media accounts. But the community took over, pushing the token to a $200 million market cap.

How Solana Meme Coin Billy Survived Being Abandoned by Its Dev

Bitcoin‘s (CRYPTO: BTC) price surged to $69,670 on Monday morning, marking a 3.1% increase and approaching the $70,000 milestone for the first time since early June. What Happened: This rally comes in the wake of former U.S. President Donald Trump‘s declaration at the Bitcoin 2024 conference to make the cryptocurrency a national strategic asset if re-elected in November.

Bitcoin Nears $70K, Ethereum, Solana Up 3%: Why Is Crypto Up On Monday Morning?

Macro guru and Real Vision CEO Raoul Pal believes that Solana (SOL) will furiously outpace Bitcoin (BTC) this cycle. In a new YouTube strategy session, Pal says that Solana could be printing a classic bullish inverse head and shoulders pattern (I-HNS) pattern against Bitcoin.

‘There's a Very Big Move To Come': Raoul Pal Says One Indicator Signaling Solana Will Vastly Outperform Bitcoin

A widely followed crypto analyst believes that one Ethereum (ETH) rival is gearing up for a parabolic move. In a new strategy session, crypto trader Ali Martinez tells his 68,300 followers on the social media platform X that Solana (SOL) could put up a more than 400% gain based on historical precedence.

Crypto Analyst Says Top Ethereum Rival Mimicking 2021-Style Price Action, Could Explode by Over 400% ‘Soon'

Solana (CRYPTO: SOL) celebrity meme coins, are for the most part down 90% or more, according to a researcher. What Happened: Anonymous researcher Slorg highlighted 30 celebrity meme coins launched on Solana in June.

Solana's Celebrity Meme Coins Down 94% On Average: 'Initial Pump And Then Nothing,' Researcher Notes

For $248, Solana users will be able to mint their Republic of Palau digital IDs.

You Can Now Get Digital IDs for the Republic of Palau on Solana

The chief executive of the financial giant VanEck says that a Solana (SOL) exchange-traded fund (ETF) is unlikely to be available anytime soon unless one key event occurs.

VanEck CEO Rules Out the Approval of a Spot Solana ETF in the US Over the Short Term – Unless This Happens

Pepe

A widely followed crypto analyst and trader believes that one memecoin is heading for the next leg up. Pseudonymous crypto trader Altcoin Sherpa tells his 216,400 followers on the social media platform X that Pepe's (PEPE) market fundamentals look strong. “PEPE: never got a chance to add at $0.00001111, I'm still in this though.

Analyst Says Ethereum-Based Altcoin ‘Looks Strong as Hell,' Outlines Path Forward for Bitcoin and Solana

A widely followed crypto analyst says that one smart contract platform could see massive gains while updating his outlook on Bitcoin (BTC) and Dogecoin (DOGE).

Crypto Analyst Says Top Ethereum Rival Could Skyrocket by 900%, Outlines Path Forward for Bitcoin and Dogecoin

Solana's (CRYPTO: SOL) 24% monthly gains, strong total value locked, whale movements and talks of Solana ETFs have prompted traders to predict further price appreciation. What Happened: Crypto chart analyst Ali Martinez predicts a potential 900% rally for Solana as it has broken out from a bullish pattern.

Solana Up 24% On The Month, Outperforms Bitcoin, Ethereum: What Is Going On?

The yet-to-implemented codebase allows any Solana-based protocol to use any asset for its economic security.

Jito Releases Open-Source Restaking Service for Solana

Pro-cryptocurrency attorney John Deaton, who is running for Senate against Elizabeth Warren (D-Mass.) later this year, could potentially be the candidate with the largest Bitcoin (CRYPTO: BTC) holdings.

News for Solana Crypto (SOL)