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.

Tech

Solana's New Daily Address Growth Outpaces Other Blockchains, SOL Jumps

Data shows that active wallets using the popular network have grown by over 58% since the start of this year.

By Shaurya MalwaJul 20, 2022

SOL is jumping. (Pixabay, modified by CoinDesk)

Finance

UnCaged Studios Raises $24M to Support Web3 Game Developers

The company will use the funds to build out its Solana-based esports franchise MonkeyLeague ahead of its public launch.

By Cam ThompsonJul 14, 2022

Finance

Solana-Based STEPN Reports $122.5M in Q2 Profits

The team will use 5% of the profits to initiate a buyback and burn program of its native GMT tokens.

By Shaurya MalwaJul 12, 2022

STEPN rewards runners and walkers with crypto. (Raúl González/Flickr)

Finance

Solana’s Macalinao Brothers Launch $100M VC Fund

Protagonist, the new venture capital firm and incubator from the prominent developers, will primarily focus on emerging blockchains and technology.

By Brandy BetzJul 12, 2022

Ian Macalinao is one of the co-founders of Protagonist. (Danny Nelson/CoinDesk)

Videos

Solana Labs Faces Lawsuit; US Bans Crypto Holders From Writing Government Policies

A class action suit filed in California federal court accuses key players in the Solana ecosystem of illegally profiting from SOL. Separately, U.S. officials who invest in crypto are now banned from working on crypto-related policy that could affect the value of their assets.

Jul 7, 2022

Tech

Crema Finance Attacker Returns Almost $8M, Keeps $1.7M Bounty

The protocol had more than $9 million worth of cryptocurrencies stolen from its platform over the weekend in a flash loan attack.

By Shaurya MalwaJul 7, 2022

Policy

Solana Labs, Multicoin Accused of Violating Securities Law by SOL Investor

Solana’s SOL token is an unregistered security whose insiders have benefitted while retail suffered, the suit alleged.

By Danny Nelson, Nikhilesh DeJul 6, 2022

The suit accuses Solana founder Anatoly Yakovenko of securities violations. (Danny Nelson/CoinDesk)

Videos

Polygon Joins Solana in Bringing Web3 to Smartphones

Tech startup Nothing has tapped Ethereum scaling tool Polygon to offer NFTs on its new Android-based Nothing Phone (1). This comes as Polygon’s competitor, Solana, is also developing its own Web3-focused phone called Saga.

Jul 6, 2022

Finance