SOLANA
Solana ($SOL) is an open-source blockchain platform designed to facilitate decentralized applications with high scalability. Originating in 2017, it was officially launched in March 2020 by the Solana Foundation, headquartered in Geneva, Switzerland. Solana's protocol introduces a hybrid consensus model, combining proof-of-history (PoH) with the underlying proof-of-stake (PoS) consensus of blockchains. This innovative approach allows Solana to achieve transaction speeds of up to 50,000 transactions per second, a significant leap compared to Ethereum's 15 transactions per second. Solana's energy efficiency is also noteworthy, with each transaction consuming energy equivalent to a few Google searches. The cryptocurrency associated with Solana, SOL, witnessed a remarkable surge in 2021, with its market capitalization reaching over $66 billion at one point. However, by October 3, 2022, its market cap had decreased to approximately $11.71 billion. Solana's unique proof-of-history concept, introduced by co-founder Anatoly Yakovenko in a 2017 white paper, enables the verification of the order and passage of time between events, enhancing the speed and efficiency of the blockchain. As of September 2022, Solana has processed over 100 billion transactions at an average cost of $0.00025 per transaction. Solana's GitHub repository indicates active development, with a focus on scalability, security, and decentralization. The platform's architecture can theoretically handle up to 710,000 TPS on a standard gigabit network. The repository also emphasizes compliance with applicable laws and regulations, highlighting the project's commitment to ethical and legal standards.
Everlend Finance, a Solana-based decentralized finance
Solana protocol decentralises finance Closing Everlend Finance.
On BX Swiss market, 21Shares launches crypto staking ETP
Staking-focused crypto-exchange-traded product from 21Shares. The STAKE ETP follows BNB, Cardano, Cosmos, Polkadot (DOT), Solana, and Tezos. 21Shares Staking Basket ETP never lends. AXTZ's year-to-date performance has increased 38% and ASOL's 78%.
Xternity migrates Solana multiplayer Web3 game for Polygon
Polygon and Xternity migrated Synergy Land, a multiplayer Web3 game from Solana, to Polygon. Solana-compatible wallets are linked, burned, then recreated on Polygon. Polygon's update reduces gas charge spikes and fixes chain rearrangement.
Stripe Is Integrated By Solana Market Maker For Fiat-To-Crypto Transfers
The Solana-based automated market maker Orca has opened up fiat purchases and fiat-to-crypto transactions through a new integration with Stripe. Users can now purchase the blockchain's standard native SPL tokens, including USD Coin and SOL, with fiat currencies. This comes as the entire crypto industry picks itself up after the collapse of the former powerhouse crypto exchange FTX.
BetDEX to Go Live on Solana as FIFA World Cup 2022 Approaches
Emerging decentralized sports betting outfit, BetDEX will be launching on Solana ahead of the World Cup
Google Cloud Says Running Validator on Solana Blockchain
Google Cloud is running a validator on the Solana blockchain. The validator will soon add new features that will allow integration for Solana (SOL) developers and node runners.
Circle to Introduce Euro Coin and Cross-Chain Transfer Protocol to Solana in Early 2023
USD coin issuer and digital financial technology firm, Circle, is now set to expand its Euro Coin and its cross-chain transfer protocol to the Solana ecosystem in the first half of 2023.
DeFi Platform Texture Secures $5M in Funds to Develop Yield Management Tools
DeFi protocol Texture Finance has tapped $5m in funding from P2P Capital amongst others.
Pre-Production Solana Phone Set to Ship to Developers in December
As the launch draws closer, Solana phones (also called Saga) pre-production are now set to be shipped out to developers for testing from December 15th.
DEC Pulls $9M in Seed Funding to Create Decentralized Uber
The Decentralized Engineering Corporation has pooled a $9M Seed Fund to build a ridesharing Protocol