Solana News

Solana (SOL) was launched in 2020 by Anatoly Yakovenko as a high-performance blockchain designed to support thousands of transactions per second through its innovative Proof of History consensus mechanism combined with Proof of Stake. Built to compete directly with Ethereum, Solana offers developers fast transaction speeds and low fees, making it attractive for DeFi applications, NFT marketplaces, and Web3 gaming platforms.

The Solana ecosystem has rapidly expanded to include major DeFi protocols like Serum and Raydium, popular NFT collections, and gaming projects that leverage the network's speed and cost advantages. Despite experiencing several network outages that raised questions about decentralization and stability, Solana has maintained strong developer activity and institutional backing, with SOL serving as both a utility token for transaction fees and a staking asset for network security.

At CoinDesk, we cover comprehensive Solana news from protocol developments and network performance to the thriving NFT and DeFi ecosystems built on the platform. Our reporting tracks Solana's technical improvements, major partnerships, institutional adoption, and the ongoing efforts to address network reliability concerns while maintaining its competitive edge.

DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person.

Markets

Ethereum Alternatives and Gaming Tokens Outperform BTC and ETH

Solana’s SOL hit an all-time high of $246 on Wednesday and the token is up 5% in the last 24 hours. Polkadot (DOT) is up 7%.

By Lyllah LedesmaNov 4, 2021

The chart shows Ethereum alternatives such as Polkadot's DOT and Solana's SOL are outperforming bitcoin and ether. (TradingView)

Markets

Ether to Extend Outperformance Versus Bitcoin Following Recent Breakout, FSInsight Says

Solana may see some consolidation in the near term following recent gains.

By Will CannyNov 4, 2021

Markets

Loopring Surges 40%, Solana Replaces Cardano as 5th-Largest Coin as Ethereum Fees Spike

The average transaction fee on Ethereum has risen a staggering 2,300% since late June.

By Omkar GodboleNov 3, 2021

Ethereum's mean transaction fees in U.S. dollars. (Glassnode)

Videos

ETH and SOL Hit All-Time Highs, CBA to Offer Crypto Services

Ethereum and Solana hit all-time highs. Australia’s CBA to offer crypto services. Hong Kong fintech week underway. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”

Nov 3, 2021

Finance

Deadmau5, Gregory Siff Merge Digital and Physical Art With Solana NFT Drop

The duo is tapping metaverse studio Looks Rare to turn real-life art into NFTs.

By Eli TanNov 2, 2021

Deadmau5, aka Joel Thomas Zimmerman, poses for a photo at an event on Oct. 30, 2021 in Miami Beach, Florida. (Jason Koerner/Getty Images)

Videos

FTX CEO Sam Bankman-Fried on $420M Raise, LedgerX Acquisition

Bahamas-based crypto exchange FTX has finalized acquiring regulated futures exchange LedgerX. This follows last week’s meme-friendly raise of over $420 million from 69 investors and a Solana-based NFT marketplace launch earlier this month. FTX founder and CEO Sam Bankman-Fried shares insights into the crypto empire’s latest developments, discussing what lies ahead.

Oct 27, 2021

Finance