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

Solana meme coin investors have been refunded for the SOL they sent to the Slerf pre-sale wallet, which was mistakenly burned 19 months ago.

'Oh Fuck': Solana Meme Coin Refunds Investors—A Year After Accidentally Burning $10 Million

Solana Mobile will no longer provide software updates and security patches to its first-generation Android phone, the Saga.

Solana Saga Loses Security Updates and Support Following Seeker Phone Rollout

Zcash

Solana scores institutional and revenue wins as price dips.

Solana News: Hong Kong Approves SOL ETF, Jupiter Ultra and Zcash Arrive

Grayscale Research's latest analysis highlights Solana as the most active blockchain in crypto, leading peers in users, transaction volume, and network fees.

Solana Emerges as Crypto's Most Active Blockchain Network

he Solana DAT firm says its resale registration is a show of confidence in its Solana-linked treasury strategy, even as HSDT shares fall.

Solana Company Touts Conviction as Investors Gain Right to Sell Shares

Building on the success of its XRP card, Gemini has unveiled a Solana credit card edition that fuses spending with staking, offering high crypto cashback and expanding real-world blockchain use across mainstream consumer finance.

Gemini Builds Momentum After XRP Success With New Solana Credit Card

Solana's Yakovenko said he was just “messing around” with AI and never meant for the code to be public.

Solana Co-Founder Vibe Codes Hyperliquid Rival, Invites Devs to ‘Steal Idea'

Bitcoin

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Daily: Bitcoin is back above $110,000, Solana co-founder Anatoly Yakovenko is designing a perps DEX, and more

Solana Company (HSDT), the digital asset treasury firm formerly known as Helius Medical Technologies and backed by Pantera Capital, has moved ahead with unlocking shares for early investors in its $500 million PIPE round as the company's stock trades below the initial purchase price.

Pantera-Backed Solana Company Brings Forward PIPE Unlock as Stock Price Plunges 60%

The New York-based exchange is launching a Solana-themed credit card offering users up to 4% SOL token rewards on purchases.

Gemini launches Solana credit card with SOL token rewards and staking

Solana co-creator Anatoly Yakovenko is building an onchain perps DEX, according to detailed documentation posted on GitHub.

Solana co-founder Anatoly Yakovenko is designing a perps DEX: GitHub

Gemini is expanding its crypto credit card offerings with the release of the Solana Card, which will offer an auto-staking option.

Gemini Unveils Solana Credit Card That Pays and Auto-Stakes SOL Rewards

Ethereum

The recovery rally in major cryptocurrencies gathered pace on Monday as Japanese shares surged to record highs and China's third-quarter gross domestic product (GDP) data bettered estimates.

Bitcoin Surges Past $110.5K, XRP, SOL, ETH Rally as Japanese Shares Hit Record High

XRP$2.3504 and Solana's SOL$185.66 stand out as the major cryptocurrencies with a key sentiment gauge showing bullish momentum, while their peers bitcoin BTC$106,887.99, and ether ETH$3,889.25 remain stuck in the gloom.

XRP, SOL Break Ahead with Bullish Reset in Sentiment as Bitcoin and Ether Stay Stuck in the Gloom

Solana price analysis by Coinidol.com. SOL has continued its sideways movement above the $170 support level following the breakdown on October 10.

Solana Resumes Its Range-Bound Rise Above $170

Uniswap

The Uniswap web application—the interface for the world's leading decentralized exchange—announced support for the Solana blockchain.

Uniswap Web App Integrates Solana, Boosting Multi-Chain DeFi Interoperability

DeFi Development Corp. has acquired 86,307 additional SOL at an average price of $110.91, increasing its total SOL holdings to more than 2.19 million. The company now holds roughly $426 million in SOL as it continues to execute its long-term staking and yield strategy. Fresh Acquisition Strengthens DeFi Dev Corp's Solana Treasury DeFi Development Corp.

DeFi Dev Corp Boosts Solana Holdings to $426 Million

The updated protocol is "seamlessly integrated" into all Jupiter products, including its mobile and desktop apps as well as its API and Pro Tools.

Solana decentralized exchange aggregator Jupiter unveils Ultra v3 offering improved trade execution, MEV protections and ‘gasless support'

Aave

A broad altcoin sell-off is seeing whales de-risking, according to analysts, citing fears of a black swan event.

Is Smart Money Exiting? Whales Dump Solana, Aave, and Aster

This could simplify the user experience, removing the need to use complex bridges or switch between different wallets and applications

Ethereum-Based Uniswap Adds Solana Support in Win for Tackling DeFi Fragmentation

This aims to address fragmentation in DeFi especially between Solana and Ethereum ecosystems, Uniswap noted.

Uniswap's web app starts support for Solana

Solana (CRYPTO: SOL) is locked in a critical battle at the $186 support zone as nearly $400 million in outflows pressure the market, threatening to drag the token lower. The selloff comes just as Andreessen Horowitz's a16z crypto arm throws a $50 million lifeline into Solana staking giant Jito Foundation.

This Solana's Code Points To A Rally To $253, But There's A Catch

Nasdaq-listed DeFi Development Corp. paid an average of about $110 per token to boost its Solana treasury holdings by nearly 5%.

Solana treasury firm DeFi Development boosts SOL holdings nearly 5%, pays average of $110 per token

Andreessen Horowitz's crypto wing invested $50 million in key Solana infrastructure provider Jito in a strategic private token sale.

A16z Crypto invests $50 million in Solana's Jito via private token sale

Jito Foundation will use the funding to grow its validator technology, staking protocol, and developer tools on Solana.

News for Solana Crypto (SOL)