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

Social media is buzzing with posts about Peanut, a popular pet squirrel with 500,000 Instagram followers, who was euthanized by New York state officials. In the wake of this, a wave of Peanut-themed meme coins has taken off, showing substantial gains over the weekend.

Peanut the Squirrel's Viral Fame Sparks Meme Coin Frenzy on Solana

Solana (CRYPTO: SOL), launched in March 2020, has risen more than 15-fold, driven by a robust ecosystem supporting various meme coins. What Happened: In 2022, Jim Cramer labeled Solana and other tokens like Litecoin as "idiot investments" on CNBC.

Jim Cramer Said You 'Shouldn't Hold' Solana When It Traded At $11 In 2022—Now It's Trading At $166

Solana's (CRYPTO: SOL) ecosystem showed notable financial and institutional growth in the year's third quarter, securing $173 million in new funding across 29 projects despite a slowdown in the number of funding rounds, according to a new Messari report. What Happened: This 54% quarter-over-quarter increase represents the highest quarterly funding total since Q2 2022, highlighting investor confidence in Solana's infrastructure and DeFi solutions, Messari writes.

Solana Sees $173M Funding Surge In Q3 Amid Rising Institutional Interest From PayPal, Visa, Franklin Templeton

The price of Solana (SOL) is correcting upwards and remains in a sideways trend. The cryptocurrency has reached a high of $183, but is now falling again.

Solana Continues To Rise But Pauses Above $174

Bitcoin

Dogecoin

A widely followed cryptocurrency analyst and trader is leaning bullish on a top-10 altcoin by market cap. The analyst pseudonymously known as Sherpa tells his 229,600 followers on the social media platform X that Dogecoin (DOGE) is “still very strong looking” amid the flagship memecoin rising by around 60% from the October low.

Crypto Analyst Says One Large-Cap Memecoin Looking Very Strong, Updates Outlook on Bitcoin and Solana

Canary Capital Group LLC has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to introduce the Canary Solana ETF. This exchange-traded fund (ETF) aims to give investors direct exposure to solana (SOL), minus operational expenses, through shares listed on a U.S. exchange.

Canary Capital Files for Solana ETF to Provide Direct SOL Exposure

Macro guru Raoul Pal believes that if Solana (SOL) reclaims a key level it may signal the broader crypto market has entered the most explosive phase of the cycle.

Solana Hitting This Price Will Be Final Confirmation Crypto in Parabolic Phase: Macro Guru Raoul Pal

A crypto strategist who accurately called the Bitcoin (BTC) correction earlier this year thinks a decentralized finance (DeFi) altcoin is getting ready to erupt.

Crypto Analyst Says DeFi Altcoin Gearing Up for Liftoff, Updates Outlook on Solana and Dogecoin

New American asset manager Canary Capital has filed to launch a spot Solana ETF in the United States, making it the third such firm to do so.

Solana ETF Momentum Grows With New Filing After Bitcoin and Ethereum Approvals

Canary Capital has filed for a Solana-based exchange-traded fund as issuers gear up to see if they can secure U.S. regulatory approval.

Canary Capital makes its move for a spot Solana ETF in latest filing to the SEC

The number of addresses that have claimed the GRASS token airdrop has jumped to nearly 1.5 million — the highest yet on Solana.

GRASS becomes ‘most distributed' Solana airdrop as nearly 1.5 million addresses claim tokens

October has seen Raydium, Solana's largest DEX, generate $22.3 billion in volume, while Uniswap on Ethereum has processed $38 billion.

Solana DEX volume soars to 168% of Ethereum's mainnet, driven by Raydium's surge in market share

Nitro Labs, the team behind Termina, a Solana scaling infrastructure platform, has raised $4 million in a seed funding round.

Solana scaling infrastructure developer Nitro Labs raises $4 million in seed funding

Solayer announced the launch of sUSD, a real-world asset-backed stablecoin, on the Solana blockchain.

Solayer Launches RWA-Backed Stablecoin sUSD on Solana

AgriDex is an example of how stablecoins are being increasingly used as a payment vehicle in emerging regions as a cheaper alternative for traditional banking rails.

Solana-Based RWA Platform AgriDex Taps Stripe's Bridge to Lower Cost for Agricultural Trade Settlements

Ethereum

Ethereum's infrastructure limitations are driving users, applications, and capital to Layer 2s and competing blockchains, an analyst said.

Ethereum mainnet issues drive users to Layer 2s and Solana, analyst says

Phantom, which is Solana's biggest wallet, is experiencing downtime. User funds should be safe, the company says.

Solana's Phantom wallet faces downtime, causing inaccurate account balances for users during anticipated GRASS airdrop

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

CoinDesk 20 Performance Update: SOL Gains 5.4%, Leading Index Higher from Friday

Economist Alex Krüger is putting traders on notice in regards to Ethereum, saying that one of ETH‘s biggest rivals has already reached escape velocity and will likely continue to outperform.

‘I've Scratched ETH Off' – Economist Alex Krüger Says One Ethereum Rival Has Now Reached Escape Velocity

A widely followed cryptocurrency analyst and trader is leaning bullish on a large-cap Ethereum (ETH) competitor while outlining the path forward for the Goatseus Maximus (GOAT) memecoin.

Trader Says One Ethereum (ETH) Rival Will Break All-Time Highs, Updates Outlook on Goatseus Maximus (GOAT)

Solana (SOL) co-founder Anatoly Yakovenko says that the project's biggest competitor is now Coinbase's Ethereum (ETH) scaling solution. In a new interview on the Unchained Crypto YouTube channel, Yakovenko says Coinbase's Base has become Solana's biggest rival due to the amount of network activity.

Anatoly Yakovenko Says Coinbase-Backed Layer-2 Base Is Solana's Biggest Competitor – Here's Why

Users can trace large fund movements from certain wallets, obtain real-time trade alerts and gain other information regarding the fifth largest blockchain by market cap.

Crypto data tracking platform Arkham adds support for Solana

A closely followed crypto strategist is suggesting that Bitcoin may soar by triple digits this cycle while one altcoin may even outperform BTC. Pseudonymous analyst Inmortal tells his 217,800 followers on the social media platform X that Bitcoin's cycle top may end up being 164% more than its current value.

Crypto Analyst Says Bitcoin Could Explode by 164% This Cycle, But Thinks Solana Will Do Even Better – Here's Why

Ethereum and Solana have plotted drastically divergent trajectories over the past week or so, causing investors eager to shift capital away from Bitcoin (CRYPTO: BTC) to sit up and take notice. What happened: Solana, often touted as the "Ethereum Killer," spiked over 13% in the last seven days, faring among the top weekly gainers.

The 'Ethereum Killer' Lives Up To Its Name: Solana Outperforms ETH by 19% Over A Week, But Can The Second-Largest Coin Stage A Comeback?

A widely followed cryptocurrency analyst and trader is leaning bullish on one memecoin while giving his forecast on two layer-1 altcoins. The analyst pseudonymously known as Bluntz tells his 287,700 followers on the social media platform X that Dogecoin (DOGE) is “still turbo strong.

News for Solana Crypto (SOL)