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

Ethereum

The new feature, described as "multitasking for rollups," is on Starknet's project roadmap for the second quarter of 2024, released Wednesday.

Starknet, an Ethereum Layer 2, Plans to Mimic 'Parallel Execution' Feature That Makes Solana Fast

The meme coin frenzy seems to have catalyzed higher volumes on the Solana blockchain, which also boasts greater capital efficiency than Ethereum.

Solana Leapfrogs Ethereum on DEX Volume

An unknown trader took home millions of dollars in profits in a span of a few minutes after their timely exit in a new memecoin running on the Solana (SOL) network, on-chain data shows. Blockchain tracking firm Lookonchain first spotted a trader who spent nearly 10,000 SOL to accumulate about 70 million Slerf (SLERF) tokens.

Trader Prints More Than $3,000,000 in Profits in Just 12 Minutes Amid Solana-Based Memecoin Rally: On-Chain Data

A closely followed crypto strategist believes one Ethereum (ETH) competitor is primed to print gains of more than 2x this year. Pseudonymous analyst Altcoin Sherpa tells his 211,900 followers on the social media platform X that he thinks Solana (SOL) will see new all-time highs this year.

Analyst Predicts Over 100% Rally for Ethereum Rival, Calls One Altcoin ‘Super Strong' Amid Crypto Volatility

The meme coin mania on the Solana (CRYPTO: SOL) blockchain prompted people to send almost $150 million to strangers' Solana addresses in search of the next 100X, pseudonymous cryptocurrency investigator ZachXBT revealed. What Happened: ZachXBT's investigation, shared on the social platform X, uncovered that since March 12, there have been more than 33 presale events on the Solana network, raising a total of $149.2 million in SOL.

$150M In 'Presale' Meme Coins Sent To Random Strangers' Solana Addresses, Investigation Reveals

A trader has reportedly suffered a significant loss of 3,731 SOL, equivalent to $775,000, within a span of an hour due to FOMO (Fear Of Missing Out) buying. What Happened: According to a tweet posted on Tuesday, the trader spent 5,004 SOL to acquire 790,236 SLERF at its highest price point of $1.32.

This Trader Lost $784,000 FOMO-Buying The Latest Hyped Meme Coin

The Solana Foundation has announced several recommendations that developers should follow to cope with the high usage that the network is currently experiencing. The foundation recommended implementing priority fees, and a series of optimizations to avoid dropping transactions. Also, an improved transaction scheduler is expected to be included in the next update.

Solana Announces Recommendations and Measures to Deal With Network Congestion

The increasingly prevalent practice, fueled by meme coin FOMO, is incredibly risky and already drawing red flags due to legal and ethical questions.

Solana Meme Coin Presales Have Raised $150 Million—What Could Go Wrong?

Over $122 million has been raised for 27 different Solana-based projects' presales in the last week, according to a recent investigation from blockchain sleuth ZachXBT. ZachXBT says that since March 12, more than 655,000 SOL worth about $122.5 million has been raised for various presales.

‘Stop Doing This' – $122,500,000 Worth of Solana (SOL) Raised in One Week for Altcoin Presales: Report

Some professional traders have termed SLERF a “blue chip meme” – a nod to blue chip stocks – for reasons ranging from its fair distribution among holders to perceived future demand.

Solana Meme Coin Slerf Clocks Higher Trading Volume Than All of Ethereum

The price of Solana (SOL) has overcome the resistance level of $150 and is thus continuing its upward trend.

Solana Rises But Drops Back To $176

A new Solana-based memecoin, Slerf, has lost $10 million after the project's developer accidentally burned a major portion of the token supply.

Solana Memecoin Slerf Accidentally Burns $10M of Presale Funds

Cosmos

Polkadot

With Bitcoin's (CRYPTO: BTC) stellar 155% rally in the past six months having reinvigorated interest in the cryptocurrency space, investors are on the lookout for investing opportunities that could provide similar or more returns going forward. This warrants a closer look at the altcoin space, with many token projects offering investors the opportunity to generate staking rewards along with the potential for further token price appreciation.

Turn $1,000 Into $150 A Month? Explore These High-Yield Crypto Staking Options

After the collapse of FTX Trading Ltd. in 2022, many wrote off Solana and thought that the project was dead.

Solana Meme Coin Mania: BOME, SLERF And SNAP Print Millionaires Overnight

Binance offered a multi-million dollar bounty for information on corruption within the exchange after an insider trading accusations went viral.

Was Solana Meme Coin BOME's Boom Aided by a Binance Insider?

An anonymous Solana developer accidentally burned $10 million worth of tokens after raising that amount in a presale. Degens bought in anyway.

Solana Meme Coin Slerf Racks Up $2 Billion in Volume Despite Dev Burning Presale Funds

Memecoin Slerf and presales for others gained traction recently, enough to drive up Solana's fees and on-chain volume.

Solana memecoin presales continue to see interest despite industry leaders expressing concerns

This week, SOL's value has seen a significant increase, elevating its decentralized exchange (dex) platforms and propelling the layer one (L1) blockchain to a leading position in 24-hour dex trading volume. Solana's dex platforms have amassed $2.802 billion in trade volume over the past day, outperforming Ethereum's dex platforms, which have recorded $2.

Solana's Decentralized Exchange Platforms Eclipse Ethereum in Daily Trading Volume, Surpassing $2.8 Billion

A new Solana (SOL)-based memecoin has soared to more than a $620 million market cap shortly after launching and securing listings on multiple crypto exchanges. Slerf (SLERF), a new sloth-themed memecoin, is now trading on at least four crypto exchanges as of Monday.

Solana Memecoin Skyrockets to $620,000,000 Market Cap Hours After Launch Amid Multiple Exchange Listings

Solana (CRYPTO: SOL) is soaring with an 8% single-day gain off the back of continuing interest in Solana-based meme coins.

Solana Chases All-Time Highs With 8% Gain As Whale Deposits $39.85M SOL Into Binance

Solana-based DEXs now hold the market share of decentralized cryptocurrency trading volume in the past 24 hours.

Solana DEXs hold market share of decentralized trading volume

Some called the move a marketing trick, as news of the burn went viral on X.

Solana Meme Slerf Notches $1.7B in Volume After Developer Loses All Presale Funds

While Solana has been rallying, the ecosystem has been reeling from an issue with the SLERF meme coin launch.

Solana Soars Into Top Four Amid SLERF Meme Coin Snafu

Some onchain watchers estimate that over $100 million worth of tokens were sent to various meme coin presales over the weekend.

Lure of Quick Money Sees $100M Flow to Solana Meme Coin 'Presales'

Solana's native token, SOL (CRYPTO: SOL), along with The Book of Meme (CRYPTO: BOME), a meme coin developed on the Solana blockchain, has seen a spike in attention within the crypto community on social media platforms. What Happened: According to social analytics firm Santiment, these tokens have dominated discussions across various networks.

News for Solana Crypto (SOL)