This is an old revision of this page, as edited by MrOllie (talk | contribs) at 21:41, 18 March 2023 (Restored revision 1145239796 by MrsSnoozyTurtle (talk): Rv edit warring about stats from unreliable source combined with deletion of actually reliably sourced information). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.
Revision as of 21:41, 18 March 2023 by MrOllie (talk | contribs) (Restored revision 1145239796 by MrsSnoozyTurtle (talk): Rv edit warring about stats from unreliable source combined with deletion of actually reliably sourced information)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff) Public blockchain platform| [REDACTED] | |
| Denominations | |
|---|---|
| Code | SOL |
| Development | |
| White paper | https://solana.com/solana-whitepaper.pdf |
| Code repository | https://github.com/solana-labs/solana |
| Developer(s) | Solana Labs & Solana Foundation |
| License | Apache 2.0 |
| Ledger | |
| Block explorer | https://explorer.solana.com/ |
| Website | |
| Website | Official website |
Solana is a blockchain platform that was founded in 2020. Solana's total market cap was US$55 billion in January 2022, however the cap fallen in value by 95 percent by the end of 2022, and the company was subject to several outages and a class-action lawsuit.
History
Solana was proposed in a white paper Anatoly Yakovenko published in November 2017. Solana's first block was created on 16 March, 2020.
In June 2021, Solana raised a $314 million funding round led by Andreessen Horowitz.
In December 2021, Melania Trump released her first NFT which was reportedly sold for 1 SOL. A Solana representative said that Trump's use of the blockchain was not part of any Solana-led initiative.
On July 1, 2022, a class action lawsuit was filed against Solana. The lawsuit accused Solana of selling unregistered securities tokens in the form of Solana (SOL) from March 24, 2020, onward and that Solana deliberately misled investors concerning the total circulating supply of SOL tokens. According to the lawsuit, Anatoly Yakovenko, the founder of Solana Labs, lent a market maker more than 11.3 million tokens in April 2020 and failed to disclose this information to the public. The lawsuit claimed that Solana stated it would reduce the supply by this amount, but it only burned 3.3 million tokens.
On 3 August, 2022, 9,231 Solana wallets were hacked. Four Solana wallet addresses took approximately $4.1 million in total from victims. According to Solana, this was due to a security failure of the Slope wallet applications, and not a flaw in the Solana protocol itself.
In November 2022, the price of Solana dropped by 40 percent in one day following the FTX liquidity crisis due to sell off from Alameda Research, as Solana was Alameda's second-largest holding. At the time, FTX held $982 million in Solana tokens. By the end of 2022, Solana had lost more than $50 billion in value since the beginning of the year.
In November 2022 Google Announced they would run Solana validators.
In February 2023 Def Jam and Universal Music Group signed The Whales, a gamified avatar music group built around Solana NFTs.
Outages
On 14 September, 2021, the Solana blockchain went offline after a surge of transactions caused the network to fork, and different validators had different views of the state of the network. The network was brought back online the next day on 15 September, 2021.
The Solana blockchain again went offline on 1 May, with the outage lasting roughly seven hours due to it being taken offline by bots. The blockchain went offline again on 31 May, 2022, due to a bug in how the blockchain processes offline transactions. This outage lasted about four and a half hours.
On 1 October, 2022, the Solana network went down for 6 hours due to a consensus bug in the validator client allowing a misconfigured node to publish multiple valid but different blocks.
Solana's outages have frequently resulted in the value of the network's native Sol token falling.
See also
References
- "solana/LICENSE". Solana Labs. 17 March 2023. Retrieved 18 March 2023.
- ^ "Solana's slide accelerates — $50 billion in value wiped from the cryptocurrency in 2022". CNBC. Retrieved 30 December 2022.
- "Explorer | Solana". explorer.solana.com. Retrieved 2022-05-07.
- Osipovich, Alexander. "Crypto Startup Solana Raises $314 Million to Develop Faster Blockchain". WSJ. Retrieved 2022-11-21.
- Ballentine, Claire; Klimasinska, Kasia; Jacobs, Jennifer (16 December 2021). "Melania Trump Is Releasing an NFT That Will Cost 1 SOL Each". Bloomberg. Retrieved 12 December 2022.
- Riaz, Saleha (17 December 2021). "Solana and MoonPay distance themselves from Melania Trump NFT venture". Yahoo! Finance. Retrieved 12 December 2022.
Meanwhile a Solana representative said that 'to avoid any confusion... her choice to use the Solana blockchain was completely organic and this project is not part of any Solana-led initiative.'
- Miller, Rosemarie. "New Lawsuit Alleging That Solana Is A Security Could Have Big Implications For The Crypto Investment Landscape". Forbes. Retrieved 2022-07-08.
- "Hacking attack drains £5m from 8,000 wallets linked to Solana crypto network". the Guardian. 2022-08-03. Retrieved 2022-09-28.
- "8/2/2022 Slope Wallet Incident Update". solana.com (Press release). 6 August 2022. Retrieved 12 August 2022.
- "How will the Binance-FTX drama affect Solana? Here's what we know so far". Fortune. Retrieved 2022-11-10.
- Shen, Muyao; Shukla, Sidhartha (9 November 2022). "'Ethereum Killer' Solana Falls Prey to Binance-FTX Deal Turmoil". Bloomberg.com. Retrieved 24 February 2023.
- Yang, Yueqi (13 November 2022). "FTX's Balance Sheet, Hack Paint Dim Picture for User Recovery". Bloomberg. Retrieved 6 December 2022.
- "Google Cloud Announces It's Now a Solana Validator; Announcement Sends SOL Price up by 15%". International Business Times. 7 November 2022.
- James, Benjamin (2023-02-08). "Def Jam Signs Virtual Band The Whales in Latest Major-Label Web3 Partnership". Billboard. Retrieved 2023-02-08.
- Shumba, Camomile (15 September 2021). "Solana says it is back up and running after a surge in transactions caused the network to crash the day before". Business Insider. Retrieved 2 December 2021 – via Yahoo News.
- Manjoo, Farhad (2022-05-05). "Opinion | What Is Happening to the People Falling for Crypto and NFTs". The New York Times. ISSN 0362-4331. Retrieved 2022-10-05.
- Sigalos, MacKenzie (1 June 2022). "Solana suffered its second outage in a month, sending price plunging". CNBC.com. Retrieved 2 June 2022.
- Evans, Brian (1 June 2022). "Solana tumbles as its blockchain network suffers 2nd outage in a month". Business Insider. Retrieved 2 June 2022 – via finance.yahoo.com.
- "Solana suffered a four-hour blackout due to a bug in how the blockchain processes offline transactions".
- Locke, Taylor (1 October 2022). "Solana back online after another outage. Here's what happened". Fortune. Retrieved 2 October 2022.
- Goswami, Rohan. "Solana's accelerating, yearlong slide wipes out over $50 billion". CNBC. Retrieved 2023-01-05.
External links
| Cryptocurrencies | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Technology | |||||||||||||||
| Consensus mechanisms | |||||||||||||||
| Proof of work currencies |
| ||||||||||||||
| Proof of stake currencies | |||||||||||||||
| ERC-20 tokens | |||||||||||||||
| Stablecoins | |||||||||||||||
| Other currencies | |||||||||||||||
| Inactive currencies | |||||||||||||||
| Crypto service companies | |||||||||||||||
| Related topics |
| ||||||||||||||
![[REDACTED]](https://u3vuiephb.global.ssl.fastly.net/File:Solana_logo.png){kind=link}