Symbol: 369 Blockchain: Solana
Contract Address: AKRsUuY13oQ3KZ3hHBAUfbpd1AK3ZVyaSAmobFQGKbeh
SOL Quick Links
Solana
Solana is a blockchain platform that is designed to host scalable decentralized applications. The open-source project was founded in 2017 by the Solana Foundation in Geneva, and the blockchain was built by Solana Labs which is located in San Francisco. Solana is a Proof of Stake (PoS) blockchain that also uses hashed timestamps to verify transactions, called Proof of History (PoH). Unlike Bitcoin and Ethereum which do not utilize clocks, Solana utilizes a clock to simplify network synchronization which results in exceptionally fast transaction speeds. Its architecture is designed to support 710,000 transactions per second (TPS) and achieving that speed is only limited by network capability and infrastructure. Solana’s token can be found on most exchanges under the ticker symbol SOL.
How does Solana work?
At its core, Solana’s high throughput is achieved by its unique consensus mechanism called Proof of History (PoH). PoH orders transactions by utilising cryptographic timestamps, enabling a secure and efficient consensus. It arranges events in a linear, verifiable sequence, ensuring accuracy without using intense computational resources. Nodes prove the passage of time by solving complex puzzles, which creates a historical record. This method establishes an order for transactions, reducing the need for energy-intensive calculations, enhancing scalability, and securing the network against manipulation, allowing for faster and more reliable consensus.
PoH’s unique methodology enhances the efficiency, scalability, and security of blockchain networks. It significantly reduces the computational workload required for reaching consensus, thereby improving scalability. By accurately ordering events through timestamps, PoH ensures a reliable and tamper-proof historical record, enhancing security against potential manipulation or fraud.
Source: SOLANIANS. Solana Ecosystem
Rapid Expansion
The Solana ecosystem is experiencing rapid growth and development consisting of more than 600 projects (some have tokens and some do not). Core ecosystem categories include Wallet, Defi, Infrastructure, Oracle, Application, Gaming, NFT, and Tooling & Explorer. There are more than 2,500 active developers building on Solana and the blockchain had 40.7M average daily user transactions (Q4, 2023).
Check out Solana’s latest ecosystem development report (8 January 2024).
Cryptocurrency Market Update: Cardano Faces Challenges, Solana Sees Reversal, Shiba Inu Eyes…
In the ever-evolving world of cryptocurrencies, recent movements in major assets like Cardano (ADA), Solana (SOL), and Shiba Inu (SHIB) have captured the attention of investors and enthusiasts alike. Let's delve into the latest updates…
Crypto Market Selloff: $70 Bln Liquidated As BTC, SOL, XRP, SHIB Prices Fell
In a tumultuous turn of events, the recent crypto market selloff has sparked discussions in the digital asset market while resulting in the liquidation of a staggering $70 billion within a span of 24 hours. Meanwhile, this latest downturn…
Can PEPE’s bullish signal help it replicate Solana-based POPCAT’s 59% hike?
Though a rally for PEPE may be possible, there is almost no way it replicates POPCAT's form.
Cryptocurrency Market Update: Bitcoin Volatility, Solana’s Slump, and Emerging Trends
In the ever-evolving world of cryptocurrencies, recent events have stirred up a whirlwind of uncertainty. Bitcoin, the poster child of the crypto realm, embarked on a rollercoaster journey, briefly soaring past the $67,000 mark before…
Crypto Prices Today April 27: Bitcoin At 62K, Ethereum Dips, SOL & XRP Crash
The top crypto prices today recorded a bearish turn as the Bitcoin (BTC) price slumped below the $63,000 level. Whilst, the Ethereum (ETH) price inched closer to drop below the $3,100 mark.
Trader Made $23M Flipping Solana Meme Coins: Details
Discover how a meme coin trader achieved profitable outcomes from tokens like Dogwifhat (WIF), Jeo Boden (BODEN), and Bonk (BONK).
Solana sees 1.3 million users leave – Here’s the why and what can stop it?
U.S. firm Stripe has initiated crypto payments by utilizing Solana's USDC.
Solflare Campaign Attracts 500K MetaMask Users to Solana
Solflare has successfully onboarded over 500,000 MetaMask users to Solana through its strategic integration of MetaMask Solana Snaps. The integration, announced in late 2023, enables the users to directly manage Solana assets via MetaMask…
Solana cat coin PAJAMAS soars over 500% in one week
The Solana-based cat meme coin PAJAMAS gained over 500% in one week after YouTube co-founder Steve Chen joined the project. The post Solana cat coin PAJAMAS soars over 500% in one week appeared first on Crypto Briefing.
SOL Primed For Massive Price Eruption To $500 As Solana Records ‘Dramatic Increase’ In…
A recent survey conducted by Coinshares has revealed burgeoning institutional interest in altcoins, with Solana's SOL leading among emerging favourites.
What Pantera Capital’s Latest Solana Investment Means for SOL
Amid FTX's bankruptcy proceedings, Pantera Capital purchases discounted Solana tokens, reflecting the firm's strategic acquisitions in the cryptocurrency market.
Grant Yun’s debut NFT collection on Solana sells out in 9 minutes
The collection "Life in Japan" from digital artist Grant Yun sold out in just 9 minutes on the Exchange Art NFT marketplace. The post Grant Yun's debut NFT collection on Solana sells out in 9 minutes appeared first on Crypto Briefing.
This 11-minute video (10 Jan 2024) provides an excellent summary of the top 7 Solana wallets, including their unique features, advantages, and drawbacks. Direct links to 5 of the most popular wallets can be found below.
There are many videos that cover the Defi aspects of Solana’s ecosystem, and thousands of videos covering individual projects. This 12-minute video provides a good starting point for those who are starting to explore this exciting part of Solana’s growing ecosystem.
You can also use the below link to search Defi projects directly on Solana’s main site.
NFTs on Solana
Emerging Use Cases
Non-fungible Tokens (NFTs) have been one of the most popular aspects of blockchain technology. New capabilities and use cases are being discovered as more and more people (and traditional sectors) explore the world of authenticated digital assets. There are two excellent articles worth your time as they describe the world of NFTs on Solana and how that aspect of the blockchain is developing and advancing:
