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

Tokens built on the Solana blockchain are getting a bit more programmable, with their developers now able to implement rules around who can hold them and what they can do with them.

Solana Delivers 'Token Extensions' to Attract Compliance-Minded Token Developers

Bonk

dogwifhat

Solana meme coin Dogwifhat (WIF) soared as trading began on crypto exchange Bitget early Wednesday morning.

Solana Meme Coin Dogwifhat Soars 30% on Bitget Listing, SOL and BONK See Gains

Solana prices continued to encounter headwinds today, struggling to recoup their recent losses after dropping to their lowest in over a month.

Solana Prices Continue To Struggle After Reaching Lowest Since Christmas

Waiting for the Jupiter airdrop? Jupiter's launchpad will deploy a Solana meme coin to even more wallets this week.

Jupiter Launching Solana Meme Coin With An Airdrop Even Bigger Than JUP

Ethereum

In the dynamic world of crypto markets, recent trends have illuminated intriguing divergences in the altcoin market, particularly between ethereum and solana, relative to bitcoin. A comprehensive report published by Glassnode, an onchain analytics firm, delves into this phenomenon.

Report: Ethereum and Solana Showcase Unique Market Dynamics in Recent Altcoin Trends

Bitcoin

As the price of Bitcoin continues to drop, the broader crypto market is taking a hit—and Ethereum and Solana are having a rough week.

Ethereum, Solana Losses Pile Up as Bitcoin Sell-Off Sinks Crypto Market

Solana's largest perpetual trading protocol, Drift, has launched a points program to reward its users ahead of its token launch.

Solana protocol Drift announces points reward program ahead of token launch

1/23 update below. This post was originally published on January 22

Bitcoin ETF Panic: ‘Critical' Price Level Revealed After $300 Billion Ethereum, Solana And XRP Crash

Avalanche

Over half of the profits accumulated by short-term bitcoin holders have been wiped out, Bitfinex analysts said in a Tuesday note.

Solana, Avalanche Tokens Slide as Bitcoin Traders Target Eye Support at $38K

A new report from digital asset fund manager CoinShares reveals that investors are withdrawing funds from high-profile crypto funds.

Altcoin Crypto Funds Like Ethereum and Solana See Outflows After Bitcoin ETFs Launch

A widely followed crypto analyst says that one top-10 altcoin looks stronger than the competition while predicting corrections for the smart contract platform Solana (SOL) and one decentralized finance (DeFi) token.

Trader Says One Large-Cap Crypto Looks Way Stronger Than Others, Predicts Correction for Solana and One DeFi Altcoin

Cardano

While the crypto board is declining amid Grayscale's offloading Bitcoin (CRYPTO: BTC), a crypto analyst believed Ethereum (CRYPTO: ETH) could likely outperform Bitcoin. What Happened: Until midday trade, the cryptocurrency board was drenched in red amidst Grayscale offloading Bitcoin holdings worth $2.14 billion.

Ethereum, Solana, XRP, Cardano Bundle In Red Though Crypto King Ethereum Could Still Outperform Bitcoin, Says Analyst

The latest price moves in bitcoin [BTC] and crypto markets in context for Jan. 22, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Solana, Cardano Lead Losses as Market Starts Week in the Red

The price of Solana (SOL) is trapped between the moving average lines as buyers and sellers continue to compete for the price.

Solana Falls Slightly As The Bears Retest The $90 Low

Bitcoin BTC , ethereum and other major cryptocurrencies solana and XRP XRP have suffered a huge crash—just after JPMorgan's CEO issued a wild warning that Satoshi Nakamoto could "erase" bitcoin entirely.

Sudden Crypto ETF Crash Panic Sends Bitcoin To $40,000—Hitting The Price Of Ethereum, Solana And XRP

CoinDesk 20, a liquid index of the highest traded tokens, slumped 2.86% in the past 24 hours.

Solana (SOL), Cardano (ADA) Lead Crypto Market Lower as Traders Grapple With BTC Headwinds

The latest statistics indicate a further decline in non-fungible token (NFT) sales this week, showing a 5.05% decrease compared to the previous week. Sales of NFTs reached $297 million, with Ethereum leading the way this week. Ethereum's sales amounted to $106 million, overtaking Bitcoin's $70 million in sales over the same seven-day period.

Weekly NFT Sales Dip — Ethereum Outshines Bitcoin, Solana and Avalanche Record Gains

Bitcoin is down bad—but major altcoins like Solana, Avalanche, and Cardano are also experiencing a brutal selloff.

Solana, Avalanche Tumble as Bitcoin Slides Towards $40,000

A Solana (CRYPTO: SOL) influencer known as Bangerz microwaved one of the limited edition Solana Saga smartphones and shared the video on X. What Happened: Bangerz, who identifies as a “washed-up influencer” and is also the co-founder and CEO of NFT launchpad 3.land, uploaded footage of the device sizzling in the microwave.

Crypto Influencer Microwaves Solana's Saga Phone And Now It Is Selling As An NFT

A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on the Bitcoin (BTC) ecosystem tokens over the medium term.

Trader Updates Outlook on Ordinals Token That's Surged Over 2,700% in Three Months, Warns Solana Could Go Lower

Altcoins and meme coins are currently navigating choppy waters in the cryptocurrency market. This follows Bitcoin's (CRYPTO: BTC) price roller coaster, where the apex cryptocurrency spiked to $49,000 last week after the launch of BTC exchange-traded funds (ETFs) in the U.S., only to experience a swift downturn to $41,000, as a ‘sell the news' effect kicked in.

'In Search Of The Next DOGE' — Crypto Analyst Michael Van de Poppe Shares His Take On Solana's BONK Meme Craze And Floki's Real-World Assets Bet

There's one less Solana Saga in the world after a viral experiment

Someone Microwaved a Solana Saga Phone—Now Degens Are Buying Meme NFTs

One Solana-based (SOL) altcoin is surging just after the top US crypto exchange platform Coinbase announced it would be officially listing it. Earlier this week, Coinbase announced that it would be supporting Hivemapper (HONEY), a decentralized global mapping network built over the Solana blockchain. “Hivemapper (HONEY) is now live on http://coinbase.

Solana-Based Altcoin Rockets 22% in Hours After Coinbase Announces Official Listing

The co-founders of the crypto analytics firm Glassnode think Solana (SOL) could outperform Ethereum (ETH) by up to 5x in the current bull run. Glassnode co-founders Jan Happel and Yann Allemann, who share the Negentropic handle on the social media platform X, say the SOL/ETH chart suggests the SOL/ETH ratio could surge.

Solana Primed To Outperform Ethereum by up to 5x, According to Glassnode Co-Founders – Here's the Timeline

A widely followed crypto analyst is updating his strategy on Bitcoin (BTC) as the crypto king's next halving approaches. Pseudonymous crypto trader Rekt Capital tells his 388,300 followers on the social media platform X that BTC is likely to wrestle with resistance for the next few months.

News for Solana Crypto (SOL)