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.

Financiën

Jump Trading Backstops Wormhole’s $320M Exploit Loss

Wormhole’s parent company has stepped in to prevent chaos across the Solana DeFi landscape.

Door Andrew Thurman3 feb 2022

Markten

Solana's SOL Tumbles 10% After $326M Wormhole Exploit

The crypto fell 10% in the past 24 hours, trading at $98 during Asian afternoon hours.

Door Shaurya Malwa3 feb 2022

SOL briefly fell below resistance. (TradingView)

Technologie

Blockchain Bridge Wormhole Suffers Possible Exploit Worth Over $326M

The popular bridge for connecting Ethereum, Solana and more is now attempting to negotiate on-chain with the hacker.

Door Andrew Thurman2 feb 2022

Video's

Coachella Music Festival to Launch Solana NFTs in Deal With FTX

As part of a partnership with crypto exchange FTX, the Coachella Valley Music & Arts Festival, set to return this April after a two-year hiatus, has announced a series of non-fungible tokens (NFTs) offering on-site perks and VIP access to the event. "The Hash" team discusses the latest move signaling NFTs taking off in the music industry and bringing mainstream blockchain awareness to the masses.

2 feb 2022