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).
SOL and SUI Gain Momentum as BTC Price Stabilizes at $84K (Weekend Watch)
Both SOL and SUI are up by over 6% on a daily scale.
Expert identifies Solana’s path to $4,000
A trading expert has identified a technical setup that could see Solana (SOL) target the $4,000 mark as the decentralized finance (DeFi) asset continues to establish its price above the $100 support zone.
Crypto News Today (15th March, 2025): BTC Holds $84K | SOL Price Shoots 7%
The cryptocurrency market has kicked off the weekend on a positive note. The market cap of the business has climbed by 2.74%, reaching $2.75 trillion. In the meantime, daily trading volumes cooled off, dropping 14.82% to $76 billion.…
How Robinhood listings sparked rally for Solana memecoins POPCAT, PNUT
Is there a thing called the 'Robinhood effect?'
Solana Forms Classic Cup-And-Handle Pattern – Analyst Predicts A Breakout To $3,800
Solana (SOL) is facing significant selling pressure and struggling to hold key support levels as the entire crypto market remains under stress. Bulls have lost control, with SOL plunging over 37% since the start of March, reflecting the…
Crypto Market Today (Mar 15): BTC Regains $84K; ETH, XRP, SOL Pump
The crypto market today (March 15) showcased notable rising trajectories, igniting investor optimism globally. Bitcoin (BTC) price regained a break above $84K intraday, while Ethereum (ETH), Solana (SOL), and XRP prices also pumped…
Solana Inflation Reform Fails As Vote Ends In Defeat
In a remarkable showcase of on-chain governance, a proposal aimed at cutting Solana's inflation rate by 80%—identified as SIMD-228—has officially failed to meet the vote threshold required for passage.
Solana Layer-2 Scaler Defies Crypto Market Slump, Surges 41% This Week Amid Multiple Exchange…
A Solana (SOL) layer-2 scaling solution defied the wider crypto market slump and surged by more than 41% this week following a flurry of recent exchange listings. Solayer (LAYER) is a blockchain network designed for high throughput and…
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:
Consumer & Dev Projects
Solana Infrastructure Projects
